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Understanding Business Statistics by Timothy Bergquist, Stacey Jones, Ned Freed

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CHAPTER 12

Multiple Regression

LEARNING OBJECTIVES

After completing the chapter, you should be able to

  1. Describe the F distribution and use an F table.
  2. Properly apply the F test in simple linear regression and describe its connection to the t distribution.
  3. Discuss the nature of multiple regression, interpret the regression coefficients, and produce basic measures of performance.
  4. Use the F test to test the overall relationship and t tests to test individual coefficients in a multiple regression model.
  5. Discuss the key issues in building a regression model, including how one might identify the “best” set of independent variables, and use the proper procedure for including qualitative variables in the model.

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EVERYDAY STATISTICS

Sabermetrics

Think baseball is all about home runs and fastballs? Two-hundred-million-dollar players with 400-million-dollar egos? Think again. What it's really all about—at least according to the blockbuster book and movie Moneyball—is a laptop computer and late nights with statistics.

Sounds unlikely, but best-selling author Michael Lewis managed to create a compelling drama about sabermetrics, the application of non-traditional statistical analysis to the very traditional game of baseball. It no doubt helped that behind the film was a great storyteller, a great story, and Brad Pitt in the starring role, but the idea of statistics taking front and center ...

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