CHAPTER 15 EXPLORING RELATIONSHIPS 15.1 INTRODUCTION EXPLANATORY VARIABLE tribute Measured R Measured E Measured M easured s Atribute Measured 0 Atribute N Attribute Atribute Attribute E easure
CHAPTER 15 EXPLORING RELATIONSHIPS 15.1 INTRODUCTION EXPLANATORY VARIABLE
The most common data analysis situations in the business arena os Response variable is measured oG Explanatory variable is either attribute or measured
❖ The most common data analysis situations in the business arena Response variable is measured Explanatory variable is either attribute or measured
152.COMMONDATA-ANALYSIS METHODOLOGY o sTEP 1 Framework for defining a Data-Analysis oo a clear idea of what is meant by a connection between the response variable and the explanatory variable o StEP 2 Initial Data Analysis (IDA) 6 To use some simple sample descriptive statistics to have a first look at the nature of the link between the variables g Strong evidence to support a link .& No evidence of a link Inconclusive and further more sophisticated data analysis is required
15.2 COMMON DATA-ANALYSIS METHODOLOGY ❖ STEP 1 Framework for defining a Data-Analysis A clear idea of what is meant by a connection between the response variable and the explanatory variable. ❖ STEP 2 Initial Data Analysis (IDA) To use some simple sample descriptive statistics to have a first look at the nature of the link between the variables ❖ Strong evidence to support a link ❖ No evidence of a link ❖ Inconclusive and further more sophisticated data analysis is required
STEP 3 Further Data Analysis(FDA s The sample evidence is consistent with there being no link/connection/relationship between the response variable and the explanatory variable s The sample evidence is consistent with there being a link/connection/relationship between the response variable and the explanatory variable &o STEP 4 Describe Relationshil oo How to undertake and interpret the I.D.A 6 How to undertake and interpret the further data Analysis
❖ STEP 3 Further Data Analysis (FDA) The sample evidence is consistent with there being no link/connection/relationship between the response variable and the explanatory variable. The sample evidence is consistent with there being a link/connection/relationship between the response variable and the explanatory variable ❖ STEP 4 Describe Relationship How to undertake and interpret the I.D.A. How to undertake and interpret the Further Data Analysis
F,,,、, Initial data Analysis Yes-- there is evidence a relationship, in Which case the link Further data needs to be described Analysis No es No- No evidence of a relationship Describe Relationship
No– No evidence of a relationship Yes-- there is evidence of a relationship, in which case the link needs to be described