Give an example based on your experience of a situation in w

Give an example based on your experience of a situation in which using a multiple regression model or nonlinear regression model may have helped you make a better decision.

Solution

When I manage my time, I consider having taking an overtime at work to save more. However, maybe I can get sick if I work too much, so my own medical expenses will be larger, then. I could also be tempted to eat more (hence, more expenses) if I work too much.

Thus, I could have done a regression model of saving vs working time, medical expenses and food expenses to predict the best possible value of my savings.

This could have led to a better decision.