Logistic regression is a powerful statistical method that is used to model the probability that a set of explanatory (independent or predictor) variables predict data in an outcome (dependent or ...

In recent columns we showed how linear regression can be used to predict a continuous dependent variable given other independent variables 1,2. When the dependent variable is categorical, a common ...

In cost accounting, an accountant often uses the information about costs during a certain period to project future expenses. There are several methods the accountant may use for his estimations, ...

Abstract: Assumptions play a pivotal role in the selection and efficacy of statistical models, as unmet assumptions can lead to flawed conclusions and impact decision ...