7 MLR - Managerial Statistics Richard A Briesch Southern Methodist University 1 Agenda Multiple Linear Regression Process Predictions Plot Theoretical

7 MLR - Managerial Statistics Richard A Briesch Southern...

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1 Managerial Statistics Richard A. Briesch Southern Methodist University
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2 Agenda Multiple Linear Regression Process Plot Theoretical Model Run Regression Interpret Results Predictions Confidence Intervals Model Comparison Model Building Dummy Variables
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Multiple Regression Change: More than one predictor variable, Example : HMO Revisited In arriving at a cost estimate for 100,000 employees, we simply used Total Enrollment (measured in total member months). One might expect a more accurate cost estimate from a “utilization” model based on services rendered (ambulatory visits and hospitalization). 3 k k k x x x x x x y 2 2 1 1 0 2 1 ) ,..., , (
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Process is Same Plot data Generate Theoretical Model Estimate Regression Interpret Results Statistics Alternative Theoretical Models Predictions 4
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Example: HMO Data Do the results make sense? (i.e., face validity) Why or why not?
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  • Fall '16
  • Regression Analysis, dummy variables, multiple linear regression, theoretical model, Linear Probability Models

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