Using Regression Analysis in Business

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What definition best defines regression analysis as it is used in business?

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1. What does the term 'correlation' mean as a part of regression analysis in business?

2. What does the term 'inverse correlation' mean as a part of regression analysis in business?

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About This Quiz & Worksheet

Use the mobile-friendly quiz and worksheet to check your understanding of regression analysis and the ways it is used in business. Some business terms you need to be familiar with for the quiz include correlation and inverse correlation.

Quiz & Worksheet Goals

Go through these resources to check your knowledge of:

  • Business-related questions that regression analysis can answer
  • The dependent variable in a regression equation
  • The definition of correlation and inverse correlation
  • Meaning of regression analysis

Skills Practiced

  • Defining key concepts - ensure that you accurately define main phrases, such as inverse correlation and regression analysis
  • Information recall - access the knowledge you have gained about the types of questions that a business regression analysis could be used to answer
  • Reading comprehension - ensure that you draw the most important details from the lesson on regression analysis used in business

Additional Learning

If you explore sections in the lesson Using Regression Analysis in Business, you can pick up more details about this type of analysis. You'll also be able to:

  • Understand the purpose of using regression analysis
  • Learn how regression analysis is used effectively
  • Identify the regression equation
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