At times we can generate a regression equation to explain ou

At times we can generate a regression equation to explain outcomes.  For example, an employees salary can often be explained by their pay grade, appraisal rating, education level, etc.  What variables might explain or predict an outcome in your department or life?  If you generated a regression equation, how would you interpret it and the residuals from it?

Solution

In a department of statistics to predict the score of an ndividual, lots of factors may play a vital role, as teacher\'s quality, study hour, attendance in college etc.

Consider the following regression model:

Student\'s grade=constant+b1 teacher\'s quality+b2 study hour+ c2 attendance in college.

Using a dataset on the required data one can generate a regression equation and can interpret it and calculate the residuals from it either by hand or by using Excel, Minitab or SPSS.