Predictive Power Unleashed: Multiple Regression Transforms Decision-Making Across Industries
The article discusses how to predict outcomes using multiple factors together instead of just one. It shows how two or more factors can help make better forecasts. They talk about partial correlation, which helps understand how two factors are related, considering other factors. The researchers explain ordinal regression, which works with data in a specific order, and tobit regression, applicable when data mostly fall at extreme points. Overall, the article dives deep into different methods to improve predictions by using multiple factors simultaneously.