MGMT 1050 Chapter Notes - Chapter 17: Simple Linear Regression, Response Surface Methodology, Dependent And Independent Variables
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The error variable is retained between there is expected to be deviations between predicted values of y and actual values of y. Response surface: when there is more than one independent variable in the regression model, we refer to the graphical depiction of the equation as a response surface rather than a straight line. In this chapter, all analysis will be performed on excel, all i need to do is interpret the output and assessing the model. The multiple regression equation is expressed similarly to the simple regression equation: general form. Three statistics to are performed are sse, coefficient of. If we are satisfied, we can interpret the coefficients and test them. We can use the model to predict values. Sometimes, certain variables are linked to each other ex. number of years you have worked and age. We aim for a small sse which means that there is a small proportion of unexplained variation, the model is a good fit.
