It was the last class of this year today.
We focused on some application exercises of the regression analysis in order to deepen their knowledge and skills of practical application.
I started summary to understand the difference and relationship with correlation analysis.
Followed by the four practical exercises below:
With question 1, they learned how to read the slope of trendline by evaluating “cost-effectiveness” of the two products.
With question 2, they learned how to apply the equation for resource planning in order to allocate optimal number of staff.
With question 3, they learned how to utilize the trendline visually in the diagram, where they split the data into two groups with the trendline.
With question 4, they learned how to combine correlation analysis and regression analysis to get a deep insight and set KPIs logically.
Finally, I shared the last assignment requesting for their presentation early January, when I will be in Thailand to give my one-day lecture at the university over there!