Linear Regression for Business Statistics

Course Overview

What skills and knowledge will you acquire during this course?
Skills and knowledge that will be acquired during this course include:
- Understanding and applying the Linear Regression Model
- Building and estimating a Regression Model using Excel
- Making inferences and predictions using the Regression model
- Understanding errors, residuals, and R-square in a regression model
- Conducting hypothesis tests in a Linear Regression
- Evaluating goodness of fit measures such as R-square and adjusted R-square
- Incorporating categorical variables in a regression using Dummy variable Regression
- Interpreting coefficients and p-values in the presence of Dummy variables
- Identifying and dealing with Multicollinearity in Regression Models
- Applying techniques such as mean-centering of variables and building confidence bounds for predictions using the Regression model
- Understanding and utilizing Interaction effects in a Regression
- Transforming variables in a regression, including log-log and semi-log regression models.

How does this course contribute to professional growth?
The course contributes to professional growth by providing knowledge and skills in regression analysis, which is a crucial tool in the field of business statistics. The course teaches students how to apply various procedures, such as dummy variable regressions, transforming variables, and interaction effects, using Microsoft Excel. By understanding and applying these techniques, professionals can make accurate predictions and inferences based on data analysis. The course also covers important concepts like hypothesis testing, goodness of fit measures, and dealing with multicollinearity. Additionally, the course introduces various extensions of linear regression, such as mean-centering of variables, building confidence bounds for predictions, and different regression models like log-log and semi-log. Overall, this course equips professionals with the necessary skills to analyze data, make informed decisions, and contribute to the field of business statistics.

Is this course suitable for preparing further education?
The course on Linear Regression for Business Statistics is suitable for preparing further education. It introduces the important tool of Linear Regression and teaches various procedures such as dummy variable regressions, transforming variables, and interaction effects. The focus of the course is on understanding and application rather than detailed mathematical derivations. The course also covers hypothesis testing, goodness of fit measures, and dealing with multicollinearity. It extends the understanding of Linear Regression by introducing techniques such as mean-centering of variables, building confidence bounds for predictions, and different regression models such as log-log and semi-log regression.