What are the differences between bivariate regression and multiple regression?

Expert Solution

(1):Bivariate Regression Analysis

Bivariate Regression Analysis is a type of statistical analysis that can be used during the analysis and reporting stage of quantitative market research. It is often considered the simplest form of regression analysis, and is also known as Ordinary Least-Squares regression or linear regression.

Bivariate Regression Analysis involves analysing two variables to establish the strength of the relationship between them. The two variables are frequently denoted as X and Y, with one being an independent variable (or explanatory variable), while the other is a dependent variable (or outcome variable).

In order to determine the relationship, Bivariate Regression Analysis uses a linear regression line (because the relationship between the variables is assumed to be linear) in order to help measure how the two variables change together, simultaneously.

(2) :Multiple Linear Regression

Multiple linear regression is the most common form of linear regression analysis. As a predictive analysis, the multiple linear regression is used to explain the relationship between one continuous dependent variable and two or more independent variables. The independent variables can be continuous or categorical (dummy coded as appropriate).

Assumptions:

(a) Regression residuals must be normally distributed.

(b) A linear relationship is assumed between the dependent variable and the independent variables.

(c) The residuals are homoscedastic and approximately rectangular-shaped.

(d) Absence of multicollinearity is assumed in the model, meaning that the independent variables are not too highly correlated.

::::There are 3 major uses for multiple regression analysis

(1) It might be used to identify the strength of the effect that the independent variables have on a dependent variable.

(2) It can be used to forecast effects or impacts of changes. That is, multiple linear regression analysis helps us to understand how much will the dependent variable change when we change the independent variables.

(3) Multiple linear regression analysis predicts trends and future values. The multiple linear regression analysis can be used to get point estimates.

orchestra answered 1 year ago

1. Distinguish between a bivariate regression model and a multiple regression.

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