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Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich
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Explain why stepwise regression is used. What is its

Chapter 12, Problem 139SE

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QUESTION:

Problem 139SE

Explain why stepwise regression is used. What is its valuein the model-building process?

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QUESTION:

Problem 139SE

Explain why stepwise regression is used. What is its valuein the model-building process?

ANSWER:

Step 1 of 2

We need to explain the reason for using stepwise regression and its value in model

building process is used.

The model building process deals with the procedure of identifying useful predictor

variables that should be included in to the model, as if the dependent variable depends on

more number of independent variables. Using this method we reduce the number of

independent variables included in to the model, which minimises the complexity of the

model by reducing the un-significant variables.

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