Question

What is an example of a problem that you feel could be solved using a regression model? Try to think of one in your chosen career field or one that you have interest in solving.

In your post, specify what the problem is that you’d like to solve and how you would specify a model that would address the problem.

• What variables might impact on the outcome variable?
• Are they quantitative or categorical?
• You don’t have to actually collect data or run a regression, —we’re just looking for how you would analyze the problem using a regression model.

Answer 1

Answer:

• Relapse is a very notable and generally utilized system in the realm of investigation to concoct experiences to enable the business to settle on vital choices.
• One such issue that can be settled utilizing relapse is the financial soundness of a person who has applied for an advance. We should perceive how to take care of this issue by utilizing relapse.
• Here we have one yield variable that is a downright factor that either yields yes or no for expressing the financial soundness of the candidate.
• Thus, the yield variable that we have here is a downright factor with 2 levels, i.e., Yes & No.
• The yield variable will rely upon the free factors that will be utilized to asses the financial soundness of the candidate and subsequently the yield variable.
• The free factors for this case will include factors, for example, Income, Age, Profession, Credit History, Demographic factors and different factors that may affect the financial soundness of the person.
• There is no restriction to the quantity of free factors required for the examination. In any case, we should guarantee that we don't include unnecessary factors bringing about the issues of multicollinearity and high connection among the factors.
• Consequently, we should lead highlight building to go to the last arrangement of free factors.
• When we have all of the factors with us then we may utilize any product devices to lead the relapse examination and get the rundown of yield that will be basic for us to get the relapse condition that can be utilized later on to foresee the financial soundness of the candidate for the credit.
• This is the way we can figure and tackle the relapse to settle on significant business choices.