Week-3: The Grandfather of All Analytics

Welcome to Regression Analysis

If there is one tool analysts should be comfortable with, it's Regression

It’s the mother, the father, and the grandfather of all analytic tools. It can answer most questions that you’d put to other tools. It’s the state-of-the-art, even though it’s hundreds of years old. It is Regression.

Isn’t it odd that the tool you should be most familiar with is tucked at the back of most texts on statistical analysis? You have to leaf through hundreds of pages to get to Regression Analysis. Well, let’s not regress anymore as we embrace Regression Analysis in all its glory!

Why Regress?

Regression Models are the bridge between the traditional statistical analysis and modern day data science. Regression can answer what T-tests, Correlation tests, Anova and other tools could answer. Regression models (including GLS) often offer better (more useful) forecasts than ANN and other datamining tools. 

Regression can help you determine if good-looking instructors receive higher teaching evaluations?

See you Friday. Bring your laptop and be prepared to work with data scientist work bench.

Resources

Lecture Slides, Click HERE.
R Script to match Chapter 7 output, Click HERE.
R Script for NY Taxi data, Click HERE.
New york Taxi Data, Click HERE.
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