MATH 534 Week 6 Discussion; Regression Analysis (Keller)

Here,wearetalkingaboutregressionanalysis.Regressionanalysisreferstoa statisticalmethodofmodelingtherelationshipsbetweendifferentvariables(dependentand independent). It is used to describe and analyze relationships between data. Also,the regression analysis is used to make predictions, the relationships between databeingusedasabasis forforecastinganddesigningapredictionmodel. Inthisexample,weareaskedtoputtogetherareportshowingtherelationshipbetweentwovariablesthatarethe IQofeach personandthe IQofhis orher mother. Regression is based on the idea that a dependent variable is determined by one ormore independent variables. Assuming that there is a causal relationship between thetwovariables,thevalueoftheindependentvariableaffectsthevalueofthedependentvariable. Thus, a regression analysis will be used to examine the relationship betweenthe IQ of an interviewee and that of his or her mother. If this relationship is clearlyrepresented,itcan beusedasaforecast.Forinstance,asanalysts,wecouldcreatearegression model with explanatory variables, such as the person's race, ethnicity, anddiet,as well as education,in ordertoidentifythevariablesthatinfluenceIQ. Regressionanalyzeshavetwocentralpurposes.Theyaresupposedtofirst,quantifythe relationships and describe them using the measured values and their graphicrepresentation.Secondly,provide forecasts and predictions.