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BANA7038 Chapter 01(3fe

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  Data Analysis Methods CHAPTER 1 Introduction 1  Data Analysis Methods Regression and Model Building ã Definition  A statistical methodology that utilizes the relation between two or more quantitative variables so that a response variable or outcome variable can be predicted from the other or others. ã Examples o Sales Volume o Employee Performance o Child Development o Hospital Stay o Sports Performance ã Simple Linear Regression (SLR)  A single predictor (independent) variable is used for predicting the response or outcome (dependent) variable. 2  Data Analysis Methods Regression and Model Building   ã Functional Relationship o Expressed as a mathematical formula o  =     o Example: Pay based on hours worked  Rate of pay is $25 per hour   = 25    3 020406080100120140010203040506070    H  o  u  r  s   W  o  r   k  e   d Gross Pay  Data Analysis Methods Regression and Model Building   ã Statistical Relationship o Not a perfect relationship o  =     o Example: Air freight breakage    is the number of times carton was transferred   = 4  + 10.2   4 051015202500.511.522.533.5    N  u  m   b  e  r  o   f   B  r  o   k  e  n   A  m  p  u   l  e  s Number of Transfers

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Jul 23, 2017

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Jul 23, 2017
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