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Essay Available:
Pages:
2 pages/≈550 words
Sources:
5 Sources
Level:
APA
Topic:
Accounting, Finance, SPSS
Type:
Essay
Language:
English (U.S.)
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MS Word
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Research Assignment Extrapolation and Regression Equations (Essay Sample)

Instructions:

Address the issue of extrapolation and using regression equations to
forecast far into the future. Explain the dangers of extrapolation from an accuracy standpoint and an ethical viewpoint. Use Biblical principles where appropriate. Must be at least two complete pages.

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Content:


Extrapolation and Regression Equations
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Q: Address the issue of extrapolation and using regression equations to forecast far into the future. Explain the dangers of extrapolation from an accuracy standpoint and an ethical viewpoint. Use Biblical principles where appropriate. Extrapolation and using regression equations
Extrapolation refers to the process of using the regression equations to predict values that are outside the range of the observed data (Utts & Heckard, 2015). However, there is no guarantee that the relationship can be reliably predicted beyond the range of observed data. After identifying the dependent and independent variables, the regression equation is unused to predict the values of the dependent value (outcome) that dependents on one or more independent variables (Braun, Altan & Beck, 2014). While the regression equation is useful to forecast the future there are limits when the equation can be used. For instance, when predicting the NCAA 100 m dash winning time for male athletes in year x, it is possible to predict the time in the near future, but not in a hundred

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