Lesson 1: Introduction to Advanced Statistics

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January 13, 2017 at 11:40 am  •  Posted in s17-busad360 by  •  0 Comments

Tue, Jan 17

Presentation:

  • Linear Regression
    • Find a line of best fit for a set of points
    • Least Squares Regression Proof: MethodLeastSquares
    • Example: Beer Party
      • Use temperature to predict 12-packs consumed
      • Data from previous parties (Temp degrees F, 12-packs consumed)
        • Party 1: 60°, 10 12-packs
        • Party 2: 70°, 12 12-packs
        • Party 3: 80°, 20 12-packs
        • Party 4: 90°, 40 12-packs
      • Scatter Plot
      • Table setup
    • Sum of Squares calculations
      • SSxx = ∑x² – (∑x)²/n
      • SSyy = ∑y² – (∑y)²/n
      • SSxy = ∑xy – (∑x*∑y)/n
      • Demonstrate Calculations
        • Beer party data: {(60,10), (70,12), (80,20), (90,40)}
        • Another example: {(2,3), (4,6), (7,9), (11,12)}

Activity:

  • Calculate Sum of Squares (SSxx, SSyy, SSxy)
    • Data set 1: {(3,5), (5,8), (8,11), (12,10)}
    • Data set 2: {(50,12), (60,15), (70,20), (80,30)}

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