Business Applications of Multiple Regression
A basic understanding of multiple regression is helpful in carrying out good business practices--specifically in the areas of demand management and data analysis. This book on correlation and regression analysis will have a non-mathematical, applied, data-analytic approach. Readers will benefit from its practitioner language and frequent use of examples. Multiple regression is at the heart of business data analysis because it deals with explanations of why data behaves the way it does and correlations demonstrating this behavior. The applied emphasis of the book provides clear illustrations of these principles and offers complete examples of the types of applications that are possible, including how to arrive at basic forecasts when the absence of historical data makes more sophisticated forecasting techniques impossible, and how to carry out elementary data mining, which can be done using only Excel, without reliance on more specialized data mining software. Students and business readers will learn how to specify regression models that directly address their questions.
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2000 Sydney Olympics adjusted r2 advertising ANOVA approach Asking Price assumption autocorrelation broilers calculations candidate car tag chapter column compute confidence interval correlation analysis correlation coefficient correlation matrix critical value data set degrees of freedom dialog box dialog box shown discussed dollars dropped dummy variable error terms estimate Excel explain F statistic fictitious data final model forecast formula heteroscedasticity homoscedasticity hypothesis testing impact independent variables intercept linear relationship measured meter reader model is significant multicollinearity multiple regression model multiple regression run negative null hypothesis number of bathrooms number of variables onetailed overall model pair of variables perform population positive power ranking problem pvalue r2 value reading Residuals plotted resulting regression route sample scatterplot shown in Figure simple regression slope coefficients SPSS statistical package Student Table tag number test statistic twotailed test unlinked passenger trips variables are significant variation worksheet Yaxis zero