The Regression Class in Quorum is a statistical procedure that uses existing datasets (i.e. a large number of factors or variables) to create an equation that predicts unknown outcome variables. Quorum conducts an Ordinary Least Squares regression.
It basically takes independent variables as the input and gives us the dependent variable or outcome as the output which is what we are trying to predict.
|Action in Regression Class
For example, a sales manager is trying to predict next year's sales. There are so many factors that could affect them from a new competitor, bad marketing, or even the climate. Regression will then determine which variable or factors have an impact.
It takes what has happened in the past to predict what might happen in the future
Below is an example in Quorum.
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