Question
State the utility of regression.
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Answer
Uses of Regression line are as follows :
- It helps to estimate the value of one variable for a given value of other variable.
- It helps us in estimating the change in the value of one variable for a unit increases in the value of other variable.
- To know if error arise in finding the value of regression.
- It helps us in marketing, planning, commercial field and management, for taking decision of finding assumptions.
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