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Statistics: Relationships between Variables

Audience

Business managers, business analysts, and researchers who need to be familiar with methods of data collection and analysis

Prerequisites

Basic math and algebra

Course Aim

To introduce the learner to contingency tables, x-y data displays, and regression

Learning Objectives

Explain how to create a contingency table. Accurately interpret contingency tables. Discuss false positives, and other problems associated with contingency tables. Interpret data shown in scatterplot form. Construct a scatterplot. Interpret and construct time-series plots. Calculate correlation and covariance. Calculate the slope and intercept of a line. Define and interpret root mean squared error (RMSE). Determine how well the line fits the given data. Explain what residual plots and outliers are.

Topics Covered

Contingency Tables - Count data and contingency tables - Contingency table drawbacks The x-y Relationship - Scatterplots and time-series plots - Transformation and rescaling of axes - Covariance and correlation Least-Squares Regression - The equation of a regression line - Root mean squared error - Hands-on: Fitting a regression line - Residual plots and outliers