Question-11: You are working with a company which manufacture and sale the designer dresses across the entire region in Asia. You have been given the list of 10 new designs for the Women dresses and you need to determine out of these 10 designs on which one company should invest more and produce in bulk. Hence, you decided to use the machine learning modeling which can predict the sales level for each product and out which you would select 3 designs which would be having highest sales as per your model.
- You would be using Random Forest algorithm
- You would be using multinomial logistic regression
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- You would be using logistic regression model
- You would be using .... algorithm.
Exp: Linear regression is a model that can show the relationship between two variables and how one can be affected by other one. " All AWS Certification & Training Material Can be accessed from this link as well "
Linear regression can be used to analyze the marketing effectiveness, pricing and promotions on sales of a product. For instance, if your company wants to know that in last year they have invested in marketing a particular brand has given them substantial return on investment, they can use linear regression. The beauty of linear regression is that it enables us to capture the isolated impacts of each of the marketing campaigns along with controlling the factors that could influence the sales.
Another set of examples where you can use linear regression
- Temperature vs. Number of cones sold at ice cream store
- Inches of rain vs. new cars sold
- Daily Snowfall vs. number of skier visits