What are the applications of regression analysis?
An example of an AI chatbot conversation about applications of regression analysis in various fields.
What are the applications of regression analysis?
Regression analysis is used in various fields like finance, healthcare, and marketing to predict outcomes and trends.
Can you give me an example in healthcare?
Sure! In healthcare, regression analysis can predict patient outcomes based on treatment variables, helping in decision-making.
How about in marketing?
In marketing, regression can analyze customer behavior and predict sales based on factors like advertising spend and seasonality.
What types of regression are commonly used?
Common types include linear regression, logistic regression, and polynomial regression, each serving different purposes.
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