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The regression line should be drawn on the scatter diagram in such a way that when the squared values of the vertical distance from each plotted point to the line are added, the total amount will be the smallest possible amount. This criterion is called the Method of Least Squares.
Minimizing the sum of the squared differences of each value of Y from the regression line by the method of calculus, we arrive at two equations, called the normal equations:
Solving these equations simultaneously, and using equivalent expressions for and , we obtain the following formulae used to calculate the coefficients a and b in the regression line = = a + bX
E(Y|X = x) = a + bx
Standard Deviation The concept of standard deviation was first introduced by Karl Pearson in 1893. The standard deviation is the most important and the popular measure of disp
Example of discrete random variable: 1. What is a discrete random variable? Give three examples from the field of business. 2. Of 1000 items produced in a day at XYZ Manufa
Assumptions in Regression To understand the properties underlying the regression line, let us go back to the example of model exam and main exam. Now we can find an estimate o
what is the the Latin Square design? What is its application in research? please explain this term with very simple but with detailed explanation for effective understanding. I hav
Ten balls are put in 6 slots at random.Then expected total number of balls in the two extreme slots
Quota sampling Under this method enumerators shall select the respondents in place of those not available, as per the quota fixed according to guide lines provided to them.
Stratified Random Sampling: This method of sampling is used when the population is comprised of natural subdivision of units, The method consist in classifying the population u
In the context of multivariate data analysis, one might be faced with a large number of v&iables that are correlated with each other, eventually acting as proxy of each other. This
i m doing MBA in singapore and i want a good work. i want a data for 200 observations and then answers for some questions. and i need the data to be approved by our professor first
As we stated above, we start factor analysis with principal component analysis, but we quickly diverge as we apply the a priori knowledge we brought to the problem. This knowled
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