Regression Analysis

Regression Analysis estimates relationships between independent (explanatory) variables and a dependent (response) variable. Regression models can be used to help understand and explain relationships among variables and they can also be used to predict actual responses. Regression is often carried out prior to further statistical investigation to get an idea of which explanatory variables have a significant effect on a particular response variable.

Typical Regression Analysis projects:

  • In the gas industry, ambient temperature can be used to predict energy usage in homes
  • In the chemical industry, hydraulic pressure and acid concentration can be used to predict product strength
  • In any industry, delivery volume can be used to predict delivery time

Regression Analysis can be used to answer questions such as:

  • How can I identify if there are relationships between my variables?
  • How can I build a model to predict some output based on a series of inputs?
  • How can I compare different models to each other?

Both our standard and bespoke courses are suitable for those with no prior knowledge of Regression Analysis or for those who require a refresher programme.

For further details contact ISRU.

 

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