Lesson 3: Simple Linear Regression
January 31, 2024
Review:
- Correlation
- Scatterplot
- Manual calculation
- Spreadsheet calculation
- XL Miner ToolPak
Presentation:
- Simple Linear Regression
- Bivariate (2 variables)
- i.e., one x and one y variable
- use Beer Party data
- Demonstrate using Beer Party data
- {(20,10), (24,12), (28,20), (32,40)}
- Beer Party data in Sheets
- Manual Calculations
- Sheets Chart/Scatterplot functionality
- Sheets internal function
- XL Miner Analysis ToolPak
Activity:
- Run Simple Linear Regression on the Pueblo RE 2014 – 100 rows sample data
- Total SqFt = x/independent/explanatory variable
- Selling Price = y/dependent/response variable
- Estimate Price assuming SqFt (x) = 1200, 1600, 2000
- Sheets Chart/Scatterplot functionality
- Sheets internal function
- XL Miner Analysis ToolPak
- Repeat with preferred approach for all 5 examples at statology.org/bivariate-data-real-life-examples/
Assignment:
- Forecast downstream water volume using upstream snowpack measurements
- Use Snowpack n Runoff data (1981-2017) to generate regression equation
- Source: National Water and Climate Center, USDA
- Snowpack = x/independent/explanatory variable
- Runoff = the y/dependent/response variable
- Use your Simple Regression Model to Estimate Runoff (2018-2023)
- Prepare estimates for next class
