Abstract
Regression analysis estimates the value of a random variable (dependent variable) for a given value of an associated independent variable. The regression equation provides the formula for such a calculation. In the present case, which is about the analysis of the dependence of total monthly sales on the monthly customer traffic, the consultant first examines to see if there is a correlation between the two variables. To achieve this, the consultant uses the scatterplot, plotting the points on a graph. After analyzing the scatterplot, the consultant is convinced that there exists a strong positive linear correlation between the two ...