Linear regression, a popular and powerful tool, enables you to make predictions about a variable if you know its relationship with another variable. Joe shows you how to use Excel to quickly visualize this relationship and the line that summarizes it. Understand this important statistical tool and apply it in your own work.
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- [Voiceover] Let's take an up-close look…at linear regression.…It's important to do this because linear regression's…the basis for a number…of powerful analytic techniques.…We use linear regression to summarize…and understand the relationship…between two variables that we can label X and Y,…and we use the relationship to make predictions.…Given the relationship and a value…for the X variable, we can predict…the corresponding value of the Y variable.…Here's an example.…I want to predict life expectancy…in a particular country…given the year of birth.…
We would anticipate that life expectancy…increases each birth year,…given advances in health and science.…Is that the case?…And by the way, is the relationship…between birth year and life expectancy…the same for males and females?…I downloaded the numbers you see on the left…from the website of the World Bank.…These are the life expectancies in the United States…for males and females from the 54 years…1960 to 2013.…I've labeled the years zero through 53…to make the numbers easier to work with.…
He explains how to organize and present data and how to draw conclusions using Excel's functions, charts, and 3D maps and the Solver and Analysis ToolPak add-ons. Learn to calculate mean, variance, standard deviation, and correlation; visualize sampling distributions; and test differences with analysis of variance (ANOVA). Then find out how to use linear, multiple, and nonlinear regression testing to analyze relationships between variables and make predictions. Joseph also shows how to perform advanced correlations, variable frequency testing, and simulations.
By the end of this course, you should have the foundational knowledge you need to take other statistics-related courses and perform basic analysis in the workplace.
- Using Excel's statistical functions and 3D charts
- Visualizing sampling distributions
- Performing comparisons with ANOVA
- Performing two-way analysis with ANOVA
- Analyzing linear regression
- Performing multiple regression and nonlinear regression analysis
- Making advanced correlations
- Testing variable frequencies
- Running simulations