×

### Let's log you in.

or

Don't have a StudySoup account? Create one here!

×

or

## QBA 2

by: Nikita Hendricks

37

4

3

# QBA 2 2305

Nikita Hendricks

Enter your email below and we will instantly email you these Notes for QBA

(Limited time offer)

Unlock FREE Class Notes

Everyone needs better class notes. Enter your email and we will send you notes for this class for free.

8/30/16 Chapter 1 Notes Scatter plot and Correlation
COURSE
QBA
PROF.
Prof. Turner
TYPE
Class Notes
PAGES
3
WORDS
KARMA
Free

## Popular in QBA

This 3 page Class Notes was uploaded by Nikita Hendricks on Tuesday August 30, 2016. The Class Notes belongs to 2305 at Baylor University taught by Prof. Turner in Fall 2016. Since its upload, it has received 37 views. For similar materials see QBA in Business at Baylor University.

×

## Reviews for QBA 2

×

×

### What is Karma?

#### You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 08/30/16
QUANTATIVE BUSINESS ANALYSIS 11 2305 PROF. TURNER CLASS NOTES Chapter 1 Scatterplots & Correlation A. Two rules for hypothesis testing 1. the equal sign ALWAYS goes in the null hypothesis 2. If the p-value is low, reject Ho B. purpose of p-value in hypothesis testing the p-value is the actual chance that i reject the null hypothesis when in fact it is true. if thep-value is lower than .05 reject the Ho. 1. What is a scatterplot Plots one quantitative variable against another. It is usually the first step leading to regression analysis. The direction of the patterns indicated whether there is a positive, negative, or non-relationship between the variables. Coefficient of correlation: (r) is a measure of the strength of the relationship between two variables. Shows direction and strength of the linear relationship between two interval variables. -1 to 1. A correlation of indicates no relationship between X and Y. A value of -1 or +1 indicates a perfect linear relationship between X and Y The sign simply implies which direction the slope is taking. Simple Linear Regression: Only using one x variable/ predictor Coefficient of determination (r^2) is the proportion of the total variation in the dependent variable (Y) that is explained or accounted for by the variation in the independent variable (X). It is the square of the coefficient of correlation. Ranges from 0 to 1 doesn't show direction Suspicious outlier Between I2I and I3I Severe outlier I3I and should be removed from the data Extrapolation Using values beyond the range of the given X to predict Y. NEVER say X Causes Y unless you’ve done a controlled experiment. 2. Variables X is the independent variable. Using descriptive statistics to predict y Y is the Dependent variable; the value we wish to predict 3. Regression Line Also known as Least Squares Equation, Line of Best Fit A. Regression Analysis: The study of the equational relationship between X and Y. B. Correlation Analysis: The study of the nature and degree of the relationship between variables. C. Confidence Interval on slope: If Zero falls in the interval on the slope, then that’s a possible value for the slope and x is not a good predictor of y. 4. Standard Error: The smaller the standard error the closer the points will be to the regression line, the better the predictive power of line. Interpret the standard error by using the Empirical Rule: Approximately 95% of the predicted values will be within +/- 2 standard error. 5. Residuals: These are the differences between the observed values of Y at X and the Predicted values of Y at that same X. Residuals should have a mean of Zero and a random pattern in their plot.

×

×

### BOOM! Enjoy Your Free Notes!

×

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

## Why people love StudySoup

Steve Martinelli UC Los Angeles

#### "There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Jennifer McGill UCSF Med School

#### "Selling my MCAT study guides and notes has been a great source of side revenue while I'm in school. Some months I'm making over \$500! Plus, it makes me happy knowing that I'm helping future med students with their MCAT."

Steve Martinelli UC Los Angeles

Forbes

#### "Their 'Elite Notetakers' are making over \$1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!
×

### Refund Policy

#### STUDYSOUP CANCELLATION POLICY

All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email support@studysoup.com

#### STUDYSOUP REFUND POLICY

StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here: support@studysoup.com

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to support@studysoup.com