Regression Analysis in Marketing Research. Understanding Prediction • Prediction: statement of what is believed will happen in the future made on the basis of past experience or prior observation | Regression Analysis in Marketing Research Understanding Prediction Prediction statement of what is believed will happen in the future made on the basis of past experience or prior observation Ch 19 2 Understanding Prediction Two Approaches Two approaches to prediction -Extrapolation detects a pattern in the past and projects it into the future -Predictive model uses relationships among variables to make a prediction Ch 19
