Correlation And Regression

About This Course

A common goal of statistical research is to find links between variables. By using correlation to identify the strength and direction of a linear relationship between two variables and using regression to predict how much a dependent variable changes based on adjustments to an independent variable, you are empowered to make objective, data-driven decisions regarding your processes.

Training Objectives

• Increase profitability and competitiveness.
• Understand the Correlation and Regression Tools and their applications.
• Identify problems and apply the appropriate tools.
• Practice using the Correlation and Regression tools effectively.
• Develop quality mindset and analytical skills.
• Apply the Correlation and Regression Tools within the organization.

Training Delivery

➢ Duration: 3 Days in 3 Weeks

1. Review how to use a scatter plot to determine if two variables appear correlated and to what degree.

2. Explain how to calculate the correlation coefficient and the coefficient of determination.

3. Show how regression analysis can be used to predict the value of one variable from another variable by fitting a least squares regression line to the data and judging the validity of the model.

4. Describe how to use information generated by a computer output from a simple linear regression to write the equation of the line and perform predictions based upon the model.

5. Explain the purpose of multiple regression and how it differs from simple regression.

6. Describe the elements of the multiple linear regression model and identify assumptions about the data required for regression analysis to work.

7. Use the “best subsets” method to determine the possible regression models and apply several techniques for selecting the best model.

8. Discuss what can go wrong with multiple regression that may lead to incorrect conclusions.

➢ Study materials include:

1. LSSI LEARN Document (Bilingual Materials and Training in Vietnamese)
2. Additional reference materials

➢ Training methodology

Our training methodology brings diversity, modernity, and flexibility, enabling learners to absorb knowledge with enthusiasm, comfort, and proactivity.

We employ both the application of knowledge and experience to real-world situations and a deep exploration of the essence of the subject matter to help learners gain a profound understanding. Here are some teaching methods we utilize.

• 50% theory and 50% hands-on practice
• Exchange and discussion (Brainstorming)
• Teamwork (3-5 People/Group)
• Case studies
• Presentations
• Gamification