Building Multiple Regression Models

Cynthia Fraser
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Cynthia Fraser: University of Virginia, McIntire School of Commerce

Chapter Chapter 8 in Business Statistics for Competitive Advantage with Excel and JMP, 2024, pp 179-200 from Springer

Abstract: Abstract Explanatory multiple regression models are used to accomplish two complementary goals: identification of drivers of performance and prediction of performance under alternative scenarios. Multiple regression offers a major advantage over simple regression. Multiple regression accounts for the joint impact of multiple drivers, which provides a truer estimate of the impact of each one individually. Looking at just one driver, as in simple regression, its estimated impact will be much greater than it actually is. A single driver takes the credit for the joint influence of multiple drivers. For this reason, multiple regression provides a clearer picture of influence.

Date: 2024
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DOI: 10.1007/978-3-031-42555-4_8

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