![]() ![]() For ease of computation, it helps to put the dependent variable (Y) in the left column, and the independent variable (X) in the right column.Ĭlick on “Data” and then “Data Analysis” and a window like this will appear. You start by collecting a list observations or data, and recording them in your spreadsheet. due to other factors (age, years on job, etc.) error i = portion of Y (salary) that is unrelated to X (education), i.e.X i = value of X (education) for observation i.the average increase in salary for each additional year of education b = average change in Y (salary) given a one unit increase in X (education), i.e. ![]() a = average value of Y (salary) when X (education) is zero.Y i = value of Y (salary) for observation i.Suppose you want to determine whether a person’s salary is a function of his or her education level (measured in years). Completion of this course will give you an understanding of the concepts of the Bayesian approach, understanding the key differences between Bayesian and Frequentist approaches, and the ability to do basic data analyses.A linear regression is just a statistical tool used to determine whether or not two (or more) variables are linearly related.īefore you can perform a linear regression with Excel, you need to make sure the “Analysis ToolPak” is installed. The lectures provide some of the basic mathematical development as well as explanations of philosophy and interpretation. For computing, you have the choice of using Microsoft Excel or the open-source, freely available statistical package R, with equivalent content for both options. This course combines lecture videos, computer demonstrations, readings, exercises, and discussion boards to create an active learning experience. In particular, the Bayesian approach allows for better accounting of uncertainty, results that have more intuitive and interpretable meaning, and more explicit statements of assumptions. We will compare the Bayesian approach to the more commonly-taught Frequentist approach, and see some of the benefits of the Bayesian approach. We will learn about the philosophy of the Bayesian approach as well as how to implement it for common types of data. ![]() This course introduces the Bayesian approach to statistics, starting with the concept of probability and moving to the analysis of data. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
January 2023
Categories |