Linear Regression is the most widely used Machine Learning model, as it allows to define an equation that represents the relationship between two variables.

Hello tutors,

Please explain to me and provide references, (not a copy paste)

On what cases do you consider that building a Linear Regression Model can be useful in a business context?

Would you use it for predicting qualitative variables such as Customer Monthly Purchases?

What about categorical variables, such as predicting the preferred product of that same customer?

What can we do if we wanted to account for multiple independent variables that we believe have an effect on the desired prediction? What are the benefits and limitations of these technique.

Thanks