1- Explain the importance of Regression Analysis in determining Correlation in a one sample test for research in business and economics. 2- How Multiple Regression Analysis would be considered to...

Running Head: APPLIED STATISTICS        1
APPLIED STATISTICS         2
APPLIED STATISTICS
Table of Contents
1. Significance of Regression Analysis to Determine Correlation in One-Sample Test for Economics and Business Research    3
2. Considering Multiple Regression Analysis for Examining Multivariable Influence in Correlation applicable to Economics and Business Research    4
References    5
1. Significance of Regression Analysis to Determine Correlation in One-Sample Test for Economics and Business Research
Regression Analysis helps to determine the correlation or normally known as interrelation between the two variables of a research, which are independent and dependent. Hence, what strength the interrelation possesses between these two variables are closely examined and measured using Regression Analysis. Therefore, as suggested by Gunst (2018), Regression Analysis holds the importance in business and economics researches that it can predict the values of any one variable in the research that involves one-sample test, by only the assumed value of another variable involved in the research.
Hence, it is clear that Regression Analysis serves the purpose of forecasting of the economic trends and analyzing the business scenarios, based on only 1 sample and the value of only 1 variable (Oczkowski & Doucouliagos, 2015). Thus, it also serves as an econometric tool used in the forecasting process, consequently, providing directions to the business analysts as how they design strategies for the...