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Multiple Linear Regression (MLR) Definition, Formula, and Example.



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What is Multiple Linear Regression? Multiple linear regression is a statistical technique that is used to predict the value of a dependent variable, given a set of independent variables. The basic concept behind MLR is that there is a linear relationship between the dependent variable and the independent variables. This means that the value of … Read more

Queuing Theory and the Science of Waiting in Line.



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Queuing theory is the mathematical study of waiting in line or queues. It is a branch of operations research because it focuses on the design and analysis of systems, such as queues, that provide services to customers. Queuing theory is often used to understand, design, and analyze computer and communication systems. The main goal of … Read more