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Define a simple linear regression. What is/are the difference(s) between simple linear regression and a multiple regression?
Define a dependent variable. Define an independent variable.
Example: A real estate agent likes to predict the selling price of a home based on several variables: size, location, condition, # of bedrooms, etc.
Based on the example, what is/are the independent variable(s)? What is/are the dependent variable(s?)
Provide two examples of situations in business, or your field, when regression is used. Explain each situation in detail.
Sample Solution
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