When marketing managers looks for a relationship between past sales and one or more independent variables, such as population, per capita income, or gross domestic product, they are engaging in

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Frida

Business

7 November, 10:40

When marketing managers looks for a relationship between past sales and one or more independent variables, such as population, per capita income, or gross domestic product, they are engaging in

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Felicity Burns · Answer 1

When marketing managers looks for a relationship between past sales and one or more independent variables, such as population, per capita income, or gross domestic product, they are engaging in regression analysis.

Explanation:

An effective mathematical formalism which enables one to analyze the interaction among two or more interest factors is understood as a regression analysis. While there are several forms of regression analysis, they all analyze the effect of one or more independent variables on a dependent variable at their source.

The linear association among two variables is defined using correlation. Regression is then used to match the best line and predict one variable based on another variable. Regression, then, represents the effect on the dependent variable of the unit shift in the independent variable.