Describe how you could use regression analysis to help make a decision in your c
ID: 3047460 • Letter: D
Question
Describe how you could use regression analysis to help make a decision in your current job, a past job, or a life situation. Include a description of the decision what would be the independent and the dependent variables, and how data could ideally be collected to calculate the regression equation Describe how you could use regression analysis to help make a decision in your current job, a past job, or a life situation. Include a description of the decision what would be the independent and the dependent variables, and how data could ideally be collected to calculate the regression equationExplanation / Answer
In statistical modeling, regression analysis is a set of statistical processes for estimating the relationships among variables.In restricted circumstances,regression analysis can be used to infer causal relationships between the independent and dependent variables.
Regression analysis to help make a decision in your current job/past job.
Let us us call Y my level of satisfaction with the job is dependent on the following factors let us call them
X1=initial salary ,X2= salary X3= work culture , X4= career growth
so now my equation could be modeled as
Y = a + X1 + X2 + X3 + X4
a= intercept
independent variables = X1,X2 , X3 ,X4
dependent variables = Y
What I can do for the data is give points on various aspects of my job life ( X1,X2...X4) through past four years
so I will have some crictical points from where I can draw out important decisions based out on the correlations.