Today’s topic was (simple linear) regression analysis.
As usual, the main focus of my class is not to learn an academic theory but to be able to apply the tools for a practical business issue.
After the review of the correlation analysis, I started talking about what is the “regression”.
Using Microsoft Excel, students solved a sample practice and other couple of the questions.
Through those exercises, they learned how to use the equation gained by the regression analysis. This is not only for future predictions but also for planning and optimization etc.
I spent lots of time for them to understand the slope of the equation means and how they can apply the concept to the problem-solving.