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What is the advantages and disadvantages of multiple regression analysis?
Wiki User
∙ 12y ago
Advantages:
The estimates of the unknown parameters obtained from linear least squares regression are the optimal.
Estimates from a broad class of possible parameter estimates under the usual assumptions are used for process modeling.
It uses data very efficiently. Good results can be obtained with relatively small data sets.
The theory associated with linear regression is well-understood and allows for construction of different types of easily-interpretable statistical intervals for predictions, calibrations, and optimizations.
Disadvantages:
Outputs of regression can lie outside of the range [0,1].
It has limitations in the shapes that linear models can assume over long ranges
The extrapolation properties will be possibly poor
It is very sensitive to outliers
It often gives optimal estimates of the unknown parameters.
Wiki User
∙ 12y ago
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