To describe the linear association between quantitative variables, a statistical procedure called regression often is used to construct a model. Regression is used to assess the contribution of one or more independent variables to one dependent variable.
It also can be used to predict the value of one variable based on the values of others. When there is only one independent variable and when the relationship can be expressed as a straight line, the procedure is called simple linear regression.
If there are more than one independent variable, then its called multiple regression
(See HW#10).
As a business major, you will see both linear and multiple regression again, possibly many time in future classes. Homework #9 and #10 will provide a simple introduction and more importantly how to use Excel to solve problems. Again you will see this again.
It also can be used to predict the value of one variable based on the values of others. When there is only one independent variable and when the relationship can be expressed as a straight line, the procedure is called simple linear regression.
If there are more than one independent variable, then its called multiple regression
(See HW#10).
As a business major, you will see both linear and multiple regression again, possibly many time in future classes. Homework #9 and #10 will provide a simple introduction and more importantly how to use Excel to solve problems. Again you will see this again.
HW #9 Data for Student Exam
HW#8 Steps:
- Watch the video(s) below (there are both PC & MAC videos)
- Download the excel file for HW#9
- Take Exam on classmarker.com (Thursday 9 am until Sunday midnight)
Excel 2010 Windows
Excel 2011 - MAC
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ReplyDeleteI remember using the regression equation in high school, so I have proof of its validity in my life. This reassures that I will use it in the future to make financial predictions as I get older.
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