FAS-Reg-1 (1)-1.pdf - Advanced Statistics Regression Analysis Dr P.K.Viswanathan(Professor Analytics Great Lakes Institute of Management Proprietary

FAS-Reg-1 (1)-1.pdf - Advanced Statistics Regression...

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Advanced Statistics Regression Analysis Dr. P.K.Viswanathan(Professor Analytics) Great Lakes Institute of Management 1 Proprietary content. ©Great Learning. All Rights Reserved. Unauthorized use or distribution prohibited
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Need for Regression The correlation coefficient gives you just the degree of relationship or association. It cannot help you estimate or predict the response variable for a given independent variable. The response variable is called the dependent variable. In the present problem involving Sigma Property, ‘%' Occupancy is the independent variable and ‘Revenue’ is the dependent variable. 2 Proprietary content. ©Great Learning. All Rights Reserved. Unauthorized use or distribution prohibited
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Objectives of Regression Analysis Explain The variations in the dependent variable as a result of using a number of independent variables. Describe the nature of relationship in a precise manner by way of an equation. Validate the regression equation statistically. Predict the value of the dependent variable based on the target values of the independent variables. Remove unwanted variable/variables that do not contribute much toward explaining variations in the dependent variable 3 Proprietary content. ©Great Learning. All Rights Reserved. Unauthorized use or distribution prohibited
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Part I-Simple Linear Regression 4 Proprietary content. ©Great Learning. All Rights Reserved. Unauthorized use or distribution prohibited
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