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Unformatted text preview: . A model must be constructed to interpret the data. i. Specify the model ii. Evaluate the model iii. Implement the model II. Basic Concepts and Tools i. Distribution the spread of data ii. Linear Regression 1. Some model Y i =B o +B 1 x i +U e a. Y is the dependent variable, since we need to plug in x (the given data) to reach a conclusion b. B i is a constant that addresses some aspect of the model and usually B i s need to be estimated c. U e is the residual, some aspect of Y that the model cannot account for through calculating x i iii. After gathering sample data, the purpose is to estimate the parameters and assign a confidence interval for the estimates....
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- Fall '08