What are some real-world applications of linear regression?
An example of an AI chatbot conversation about linear regression applications.
What are some real-world applications of linear regression?
Linear regression is widely used in various fields. For example, in finance, it helps predict stock prices based on historical data.
Can you give me more examples in healthcare?
Sure! In healthcare, linear regression can be used to predict patient outcomes based on treatment variables or to analyze the relationship between lifestyle factors and health metrics.
How about in marketing?
In marketing, linear regression is used to analyze the impact of advertising spend on sales, helping businesses optimize their marketing strategies.
What about its limitations?
Linear regression assumes a linear relationship between variables, which may not always be the case. It can also be sensitive to outliers.
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