Linear regression is a powerful and long-established statistical tool that is commonly used across applied sciences, economics and many other fields. Linear regression considers the relationship ...

The first step in conducting a regression-based study is to specify a model. In real applications, this is usually the most challenging step - deciding which variables “belong” in the model and which ...

The standard linear regression model does not apply when the effect of one explanatory variable on the dependent variable depends on the value of another explanatory variable. In this case, the ...

Journal of the Royal Statistical Society. Series C (Applied Statistics), Vol. 30, No. 2 (1981), pp. 116-124 (9 pages) This paper develops a maximum likelihood method for estimating a piecewise ...

Businesspeople need to demand more from machine learning so they can connect data scientists’ work to relevant action. This requires basic machine learning literacy — what kinds of problems can ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Suzanne is a content marketer, writer, and ...

Marketing research professionals often use inferential or descriptive statistics to guide major marketing decisions. There are a number of statistical tests that explore the relationship between the ...