DQ1Regression Analysis* What is the purpose of using regression analysis?* How may it be used to formulate strategies?* Provide examples related to strategy formulation and implementation.DQ2Regression analysis and correlation*How is regression analysis used in forecasting? Provide examples.* What is the purpose of using correlation analysis?* How may correlation analysis be used in business decisions or in relation to strategy formulation and implementation?DQ3Correlation and Causality*How may correlation analysis be misused to explain a cause-and-effect relationship?