Statistical variation and regression methods

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1. What are the implications of statistical variation? Why are we interested in understanding and measuring variation?

Besides using variation in the world of quality, there are also social implications. For example, what does statistical variation suggest about how we ought to judge and treat ourselves and others? Cite an example of these implications from your own experience.

2. Linear Regression is a useful method if you want to be able to predict one variable based on knowledge of another. Discuss other prediction methods that might be useful. Also, discuss some of the more advance Regression methods. When would these methods be appropriate? Provide examples of each method.

Reference no: EM1397213

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