Regression Correlation statistical techniques
1. We use Microsoft EXCEL to quickly graph and compute the
essential output of these techniques. What are the advantages and disadvantages
of using EXCEL for regression and correlation statistical techniques? Or
alternatively, is there any advice you would like to give the newbie in using
this EXCEL tool?
2. Linear Regression and Correlation are two analytical
techniques used to forecast the value of the dependent variable based on the
independent variable and test the strength of the relationship between the two
variables. With Microsoft EXCEL we can analyze a wide variety of large data
sets. Discuss some real data from business, sports or personal finance that
could be used in this analytical technique. Identify the independent and
dependent variables in the data set. What relationship do you expect to be
found between the two variables?
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