Questions answered in this chapter:
How can I predict quarterly U.S. auto sales?
How can I predict U.S. presidential elections?
Is there an Excel function I can use to easily make forecasts from a multiple regression equation?
In the first example of multiple regression in Chapter 53, I forecasted the monthly cost of plant operations by using the number of units of each product manufactured at the plant. Because you can quantify exactly the amount of a product produced at a plant, you can refer to the units produced of Product A, Product B, and Product C as quantitative independent variables. In many situations, however, independent variables can’t be easily quantified. In this ...