WEEK 5 Correlation and Regression
What results in your departments seem to be correlated or related to other activities? How could you verify this? Create a null and alternate hypothesis for one of these issues. What are the managerial implications of a correlation between these variables?
At times we can generate a regression equation to explain outcomes. For example, an employee’s 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?