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Business Statistics: Regression and Correlation Analysis

This is an individual assignment for Business Statistics 1 that requires the analysis of a dataset on the earnings of full-time Australian workers. The assignment must be submitted as a professional report with a specific structure and include the use of Microsoft Excel.

9 Pages1063 Words258 Views
   

Added on  2023-06-17

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This report explores the use of regression and correlation analysis in business statistics. It covers the estimation of relationships, interpretation of R squared, and prediction of future earnings. The impact of gender, degree, skill, and experience on earnings is also discussed.

Business Statistics: Regression and Correlation Analysis

This is an individual assignment for Business Statistics 1 that requires the analysis of a dataset on the earnings of full-time Australian workers. The assignment must be submitted as a professional report with a specific structure and include the use of Microsoft Excel.

   Added on 2023-06-17

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Business Statistics
Business Statistics: Regression and Correlation Analysis_1
EXECUTIVE SUMMARY
The present study is based on business statistics which involves study of numbers and analysis of
numeric information with help of different data sets. The present report has undertaken the use of
correlation and regression in order to analyse and evaluate the data presented.
Business Statistics: Regression and Correlation Analysis_2
TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Conducting preliminary analysis of relationship among various variables................................3
Use of linear regression for estimating relationship...................................................................3
Use of multiple regression..........................................................................................................4
Interpreting R squared in model A and adjusted R squared in model B.....................................5
Comparing the coefficient of gender in model A and model B..................................................5
Predicting the earning of male and female worker with same characteristic..............................5
Two new variables......................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................8
Business Statistics: Regression and Correlation Analysis_3

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