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Essay
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English (U.S.)
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Topic:
What Is the Difference Between Correlation and Regression?
Essay Instructions:
What Is the Difference Between Correlation and Regression?
Correlation and regression are tightly related, but they serve slightly different purposes. A regression predicts and describes the relationship between two variables whereas a correlation only identifies if there was a relationship between them in the past.
For this discussion, develop an original response describing a scenario where you might need to use regression instead of correlation. How could a regression model serve your purpose?
In this open-ended discussion, designed to generate a free flow of ideas, no APA citations are required.
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What Is the Difference Between Correlation and Regression?
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What Is the Difference Between Correlation and Regression?
Researchers use regression or correlation statistical approaches depending on the available data and the purpose of their analysis. Such an aspect facilitates the revelation of the relationships between different variables or the linear prediction of the changes in one variable when another varies. These capabilities confirm the importance of these models in diverse circumstances, including in the business environment. Thus, firms rely on regression for such objectives.
A company looking to determine how its quarterly earnings affect its s...
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