Open source softwares - Regression

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Lesson Description

Lession - #1518 Regression Analysis

Regression analysis is a reliable method of identifying which variables have impact on a topic of interest. The process of performing a regression allows you to confidently determine which factors matter most, which factors can be ignored, and how these factors influence each other.

In order to understand regression analysis completely, it’s essential to comprehend the following terms

Dependent Variable This is the main factor that you ’re trying to understand or predict.

Independent Variables These are the factors that you hypothesize have an impact on your dependent variable.

In our operation training illustration over, attendees ’ satisfaction with the event is our dependent variable. The topics covered, length of sessions, food handed, and the cost of a ticket are our independent variables.

How does regression analysis work?

In order to conduct a regression analysis, you ’ll need to define a dependent variable that you hypothecate is being told by one or several independent variables.

You ’ll also need to establish a comprehensive dataset to work with. Administering checks to your audiences of interest is a atrocious way to establish this dataset. Your survey should include questions addressing all of the independent variables that you're interested in.

Let’s continue using our operation training illustration. In this case, we ’d want to measure the literal situations of satisfaction with the events from the once three times or so( or still long you suppose statistically significant>
, as well as any information possible in respects to the independent variables.

maybe we ’re particularly curious about how the price of a ticket to the event has impacted situations of satisfaction.

To begin investigating whether or not there's a relationship between these two variables, we'd begin by plotting these data points on a chart, which would look like the following theoretical illustration.

Regression Analysis Plotting data is the first step in figuring out if there's a relationship between independent and dependent variables

Plotting your data is the first step in figuring out if there's a relationship between your independent and dependent variables>

Our dependent variable( in this case, the level of event satisfaction>
should be plotted on the y- axis, while our independent variable( the price of the event ticket>
should be plotted on thex-axis.

Once your data is plotted, you may begin to seecorrelations.However, also we ’d be suitable to confidently say that the advanced the ticket price, the advanced the situations of event satisfaction, If the theoretical chart above did indeed represent the impact of ticket prices on event satisfaction.