7b. Statistics 101 Linear Regression

Statistics 101: Linear Regression This class session covers the fundamentals of linear regression and data preparation for analysts. Here is the breakdown by topic: 0:00 Introduction to Regression Concepts: Overview of statistical definitions including dependent/independent variables, simple linear vs. multiple/logistic regression, and the regression equation (y = mx + c) 12:47 Key Terminology: Explanation of critical terms: Correlation (positive/negative), Slope, Y-Intercept, R-squared (coefficient of determination), and Extrapolation. 14:40 Practice Exercise 1 - Smart Coffee Maker: Using fictional data to find the correlation, regression line, value, and making predictions with the FORECAST function. 29:45 Practice Exercise 2 - Ad Spend vs. Revenue: Analyzing a positive correlation scenario, including calculating baseline return on investment (intercept). 41:27 Practice Exercise 3 - Horsepower vs. Fuel Efficiency: Demonstrating a negative correlation and discussing why intercepts don't always hold physical meaning. 50:00 Practice Exercise 4 - Diamond Pricing: Using real-world data to explore non-linear relationships, demonstrating the Extrapolation Error when applying a linear model outside of known data boundaries. In this class, we introduce Simple Linear Regression, an important statistical technique used by data analysts to explore relationships between variables and support data-driven insights. This session is designed especially for ESL learners, with practical examples and guided explanations to make the concepts of regression and relationships in data easier to understand and apply. 🎥 Recording: This is the live class Zoom recording. It is provided as a learning resource for students to review the session, revisit demonstrations, reinforce concepts, and continue practicing after completing the program. 📚 Program: Data Analytics & Visualization with Excel and Tableau Public 🎓 Designed for: ESL learners, adult learners, career changers, and professionals developing practical data analytics skills #LinearRegression #Statistics #DataAnalytics #Excel #DataAnalysis #DataVisualization #TableauPublic #ESLLearners #DataSkills #linearregression #linearequations #regressionanalysis #scatterplot #slopeinterceptform