Create a new account

It's simple, and free.

Statistical Procedure of Linear Regression INTRODUCTION The purpose of this researc

The purpose of this research is to examine the statistical procedure of linear regression. A technical description of the procedure is provided, along with an explanation of the role of regression analysis in organizational decisionmaking, and an illustration of linear regression analysis.

Administrators and managers of organizations use statistics in three general ways. These three ways are as follows:

1. To describe events. Descriptive statistics describe the performance or activity of one group or class, without attempting to make generalizations about other groups or classes.1

2. To infer causes or future events. Inferential statistics permit the findings with respect to one set of relationships to be extended to other relationships and to generalize findings and conclusions on the basis of statistical inference.2

1R. I. Levin, Statistics for Management, 3rd ed. (Englewood Cliffs, New Jersey: PrenticeHall, Inc., 1984), 12.

3. To enhance the decision making process. Decision theory provides administrators and managers with knowledge about events and relationships which reduce the level of uncertainty in the data upon which decisions for an organization are based.3

The basic theoretical principle upon which inferential statistics are based is that of probability.4 Probability is "a number expressing the likelihood of occurrence of a specific event."5 For use in inferential statistics, this probability must be statistically independent.6 Classical statistics is concerned with the analysis of sampled data. This analysis of sampled data permits the researcher to make inferences concerning total populations, "with the exclusions of any personal judgements or opinions."7

Essentially, the choice between probability levels of TypeI and Type II errors is the basis on which the relative importance of two alternative types of mistakes is assessed in hypothesis testing...

Page 1 of 10 Next >

More on Statistical Procedure of Linear Regression INTRODUCTION The purpose of this researc...

Loading...
APA     MLA     Chicago
Statistical Procedure of Linear Regression INTRODUCTION The purpose of this researc. (1969, December 31). In LotsofEssays.com. Retrieved 08:16, March 28, 2024, from https://www.lotsofessays.com/viewpaper/1700328.html