Correlation and Regression

| January 13, 2016

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Correlation (Write one page)
What results in your departments seem to be correlated or related (either causal or not) to other activities? How could you verify this? What are the managerial implications of a correlation between these variables??

Regression (Write one page)
At times we can generate a regression equation to explain outcomes. For example, an employee’s salary can often be explained by their pay grade, appraisal rating, education level, etc. What variables might explain or predict an outcome in your department or life? If you generated a regression equation, how would you interpret it and the residuals from it?

Required Resources
Text
Tanner, D. E., & Youssef–Morgan, C. M. (2013). Statistics for managers [Electronic version]. Retrieved from https://content.ashford.edu/
•Chapter 8: Correlation
•Chapter 9: Simple Regression: Predicting One Variable From Another
•Chapter 10: Multiple Regression: Using More Than One Predictor
•Chapter 11: Confidence Intervals ◦Read Section 11.3: The Confidence Interval of the Prediction only.
Recommended Resources
Articles
Burnside, K. (2013, June 8). How to use multiple regression in Excel. eHow. Retrieved from http://www.ehow.com/how_5768074_use-multiple-regression-excel.html
Weedmark, D. (2015, August 14). How to perform linear regression in an Excel spreadsheet. eHow. Retrieved from http://www.ehow.com/how_6788555_perform-linear-regression-excel-spreadsheet.html
Multimedia
Khan Academy. (Producer). Regression [Video files]. Retrieved from https://www.khanacademy.org/math/probability/regression

Meridian Education Corporation & Advanced Productions (Producers). (2001). Drinking and driving: A crash course [Video file]. Retrieved from the Films On Demand database.

Surgey, P. (Producer). (1995). The passionate statistician: Florence Nightingale [Video file]. Retrieved from the Films On Demand database

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