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Building a Multiple Linear Regression Model

Previously, we have seen situations where an outcome (the dependent variable) is based on a single input variable (independent variable). Sadly, real life is rarely as simple. Most outcomes in real situations are affected by multiple input variables. To...

Building Nonlinear Regression Models

We have talked about regression models in the context of linear regression models in the previous post. A nonlinear regression model is one that describes a nonlinear relationship between the dependent and the independent variables. Naturally, the equation of the...

Building Linear Regression Models

What is regression? In the dictionary, the word regression basically means ‘to go back’. In terms of statistics too, the meaning is not too different – it means ‘to go back to the past data to explain the process that generates the data’....

Take a quiz – Central Tendency and Dispersion

1. Which is the most suitable measure of central tendency for a large data set with no outliers?  Mean  Median  Mode  Variance 2. To get a good idea about the nature of the data, which of the following should be stated together?  Mode and...

How to Compute the Measures of Dispersion using Microsoft Excel

Calculating Range in Excel Excel does not offer a function to compute range. However, we can easily compute it by subtracting the minimum value from the maximum value. The formula would be =MAX()-MIN() where the dataset would be the referenced in both the parentheses....