What type of mathematical equation describes the relationship between the dependent variable and several independent variables in regression analysis?

Disable ads (and more) with a membership for a one time $4.99 payment

Prepare for the UCF QMB3200 Final Exam with targeted flashcards and multiple-choice questions. Each question is designed to enhance your understanding, with hints and detailed explanations provided. Get exam-ready now!

In regression analysis, the relationship between a dependent variable and several independent variables is described by a multiple regression model. This type of model allows for the analysis of how multiple factors simultaneously influence a single outcome. It expresses the dependent variable as a function of multiple independent variables, which can help to uncover complex relationships in the data.

In a multiple regression model, the formulation typically takes the shape of an equation where coefficients are assigned to each independent variable, indicating their individual impact on the dependent variable while controlling for the others. This contrasts with a simple regression model, which only involves one independent variable; hence, it cannot account for the situation where multiple influences need to be evaluated concurrently.

The binary regression model is specifically designed for scenarios where the dependent variable is categorical with two possible outcomes, often expressed in 0s and 1s. On the other hand, a logistic regression model is a type of regression analysis suited for modeling binary outcome variables using a logistic function. While both of these still involve independent variables, they do not capture the relationship with multiple independent variables in the same way a multiple regression model does.

Therefore, the multiple regression model is the appropriate choice for capturing relationships involving several independent variables influencing a dependent variable.