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Regression Analysis: Basic Statistics Lecture Series Lecture #13

As promised last time , I am going to cover the basics of simple regression analysis.  It is simple because there is only one independent variable for the dependent variable. As a side note here, most of you are likely familiar with the phrase "correlation does not imply causation".  This statement, while true, is misleading.  Yes, it is true that not all correlations are causal, it is also true that all causation's are correlated.  Causation cannot occur without correlation, so correlation is the first necessary step to show causation, but it is also an insufficient step. For example, if we look at the graph of MLB wins on the y-axis and the ratio of runs scored to runs allowed on the x-axis, it is easily apparent that the ratio and the number of wins are highly correlated.  This is a causal relationship as well.  The more runs you score and the fewer runs you give up, the more you'll win, because the winner is the team who scores more runs than...

Basic Statistics Lecture #8: Anscombe's Quartet

"There are three kinds of lies: lies, damned lies, and statistics." - Unknown As promised last time , I will be covering Anscombe's Quartet.  It is an idea where people may use statistics to lie about a data set.  It is a series of data sets developed by statistician Francis Anscombe and published in the journal American Statistician in 1973. I'm going to provide you with four sets of data.  Do me a favor and apply what you know of statistical analysis to them.  If the statistical data look weird to you, don't be scared; you may have done the analysis perfectly.  Here's the four sets: I II III IV x y x y x y x y 10 8.04 10 9.14 10 7.46 8 6.58 8 6.95 8 8.14 8 6.77 8 5.76 13 7.58 13 8.74 13 12.74 8 7.71 9 8.81 9 8.77 9 7.11 8 8.84 11 8.33 11 9.26 11 7.81 ...

Basic Statistics Lecture #6: Types of Graphs

As mentioned last time , I am going to cover different types of graphs Pie charts  vs. bar charts: Pie charts are those graphs where the data is represented as slices of a circle.  We've all seen pie graphs, and it is exactly what it says on the tin. Bar graphs are another type of data visualization which most people have seen.  It is where the data is represented as bars, where the x-axis is the independent variable, and the y-axis is the dependent variable. Pie charts have the advantages of displaying categories within one set with respect to one another and being used best with percentages.  They have the disadvantages of needing each category displayed to be read correctly (no truncation) and that all data values must be present.  Bar charts have the advantages of being very flexible (there is no distortions from truncating categories) and they can compare 2 or more data sets.  The disadvantage is that it is not very useful for...