When the relationship is of quantitative nature, the appropriate statistical tool for discovering and measuring the relationship and expressing it, in brief formula is known as
A. Sampling Theory
B. Regression Analysis
C. Average
D. Correlation
Answer: Option C
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Related Questions on Business Statistics
In statistical analysis, the burden of proof lies traditionally with
A. alternative hypothesis
B. null hypothesis
C. analyst
D. facts
A. Target fixing
B. Markets
C. Business forecasting for products
D. All of the above
A. Statements I and II are true
B. Statement II is true
C. Statements II and III are true
D. Statement III is true
A. Transaction processing
B. Application processing
C. Data processing
D. Information processing
Regression analysis provides a quantitative measure of the strength and direction of the relationship between variables. The regression equation summarizes this relationship in a concise formula. So the answer should be option "B".