This week we will study the Chi-Square, Correlation and Regression as well as Time Series Analysis and Forecasting.
1. FICO Score, Independent and Dependent Variables– Have you heard of the FICO or credit score?
Is this the Independent or Dependent Variable?
2. Tips for Correlation and Regression in Excel– This week we have introduced to Regression and Correlation, two statistical techniques used in forecasting and basic modeling. We use Microsoft EXCEL to quickly graph and compute the essential output of these techniques. What are the advantages and disadvantages of using EXCEL for these statistical techniques?
Or alternatively, is there any advice you would like to give the newbie in using this EXCEL tool?
3. Time Series Analysis, Advantages, Disadvantages- We have discussed Correlation and Regression Analysis as two powerful statistical methodologies to test the strength of relationships between variables and express the value of a Dependent Variable based on an Equation containing one or more Independent Variables. Time Series Analysis and Forecasting are also important methodologies where we can use Excel to identify trends in our data.
What are the advantages and disadvantages in using these tools in our business management roles?