Business statisticsLesson 5 of 5 in the course Linear Regression and Correlation

Running and Interpreting Regression in Excel’s Analysis ToolPak

5 flashcards · 5 quiz questions · 5 match pairs · 5 fill-in sentences · English

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Summary

Regression analysis helps estimate how one or more explanatory variables relate to an outcome. This lesson introduces the role of Excel and the Analysis ToolPak.

Regression calculations can involve many observations and variables, making them more involved than a quick arithmetic calculation. Modern statistical software performs these calculations efficiently and presents results in a consistent format.

All flashcards

What does Y represent in a regression model?
The dependent or outcome variable that the model seeks to explain.
What are X variables in a regression model?
Independent or explanatory variables used to model the outcome.
What does the Constant is Zero option do in Excel regression?
It suppresses the intercept and forces the fitted relationship through the origin.
What does an individual t test assess in a regression?
Whether one coefficient differs from its hypothesized value, often zero.
How should a regression slope be interpreted?
As the change in predicted Y for a one-unit increase in that X, holding other included variables constant.

Quiz questions

  1. How should multiple independent-variable columns be arranged for straightforward selection in Excel’s regression dialog?Answer: In one contiguous block of adjacent columns.
  2. In Excel’s regression output, what does Significance F report?Answer: The p-value for the joint test that all slope coefficients are zero.
  3. In a multiple regression, what does a slope estimate describe?Answer: The change in predicted outcome for a one-unit increase in that predictor, holding the other included predictors constant.
  4. What does R Square describe in a fitted regression model?Answer: The proportion of sample variation in the outcome accounted for by the fitted model.
  5. What does selecting Constant is Zero impose on a regression model?Answer: The fitted relationship must pass through the origin.

Based on Introductory Business Statistics 2e by Alexander Holmes, Barbara Illowsky, Susan Dean (OpenStax), licensed CC BY 4.0. Adapted into a summary, flashcards and quizzes.

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