The Ordinary Least Squares (OLS) Regression Model
Chapter 3 Preview
When you have completed reading this chapter you will be able to:
- Know the difference between a dependent variable and an independent variable.
- Know what portion of a regression equation (model) represents the intercept (or constant) and how to interpret that value.
- Know what part of the regression equation represents the slope and how to interpret that value.
- Know that for business applications the slope is the most important part of a regression equation.
- Know the ordinary least squares (OLS) criterion for the “best” regression line.
- Know four of the basic statistical assumptions underlying regression analysis.
- Know how to perform regression analysis in Excel.
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