Regression is used for forecasting when there is a relationship between the dependent variable (demand)and one or more independent (explanatory)variables.

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Regression is a statistical method that helps to model the relationship between a dependent variable and one or more independent variables. It is commonly used in forecasting when there is data available on both the dependent variable (the variable being forecast) and one or more independent variables that may help to explain or predict its behavior. The dependent variable in this context is the demand for a product or service, and the independent variables could include factors such as price, income, or marketing expenditures that may influence demand.

Regression Is Used for Forecasting When There Is a Relationship