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Multiple Regression with Minitab
Rating: 4.6 out of 5(138 ratings)
1,012 students

Multiple Regression with Minitab

Perform & Analyze the Results of Multiple Regression using Minitab 19 - Six Sigma Master Black Belt (SSMBB) Level
Last updated 2/2023
English
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What you'll learn

  • Master the fundamentals of Regression Analysis, including both linear and polynomial regression techniques.
  • Perform and interpret the results of multiple regression analysis using Minitab with confidence.
  • Start with basics, understanding scatter plots and simple regression with one predictor, and progressively move to more complex scenarios.
  • Gain a practical view of regression modeling, analyzing real-world examples like predicting insurance costs based on various factors.
  • Add additional predictors to your regression models and understand the significance of R-squared and adjusted R-squared values.
  • Select the best features using Best Subsets and Stepwise selection approaches to optimize your models.
  • Learn about training and test data, including validation set approach, leave-one-out cross-validation, and K-Fold validation.
  • Develop a solid foundation in multiple regression to boost your career in data analysis and Six Sigma projects.

Course content

9 sections47 lectures4h 48m total length
  • Introduction to Simple Linear Regression6:57

    Explore simple linear regression by examining the relationship between two variables, using predictor and response variables, and fitting a best-fit line y = mx + c from scatterplots.

  • Understanding Scatter Plot7:38

    Plot scatterplots to visualize the relationship between predictor and response variables, assess linear versus non-linear patterns, strength and direction (positive or negative), and explore matrix plots in Minitab.

  • [Minitab] Plotting Scatter and Matrix Plots3:44

    Create scatterplots and matrix plots in Minitab to explore relationships between stiffness, density, and other variables. Learn how to add a regression line and preview correlation coefficients to quantify relationships.

  • Correlation Coefficient3:47

    Explore how the Pearson correlation coefficient r measures the strength and direction of relationships between variables, including sample vs population, with examples and a Minitab solution.

  • [Minitab] Regression - Two Approaches in Minitab6:03

    Explore how hours studied predict test scores using scatterplots and simple linear regression in Minitab, and compare two regression approaches, including coefficients, p-values, and R-squared.

  • The R Value4:58

    Explore the correlation between hours studied (X) and test scores (Y) using Minitab, with r = 0.88 indicating a strong positive relationship.

  • The R-Squared Value (Coefficient of Determination)4:43

    Explore how the R-squared value, the coefficient of determination, explains 77.33 percent of variation in marks from hours studied, and compare with a low R-squared example.

  • Hypothesis Testing - Introduction9:51

    Learn the foundations of hypothesis testing in regression, including null and alternate hypotheses, alpha levels, P values, and how to decide to reject the null using software like Minitab.

  • Type I and Type II Errors6:36

    Learn how Type I and Type II errors arise in regression analysis, control alpha, and distinguish false alarms from correct conclusions about null and alternative hypotheses.

  • The p-Value6:28

    Learn how the p-value tests the null hypothesis of no relationship between predictor and response, and compare it to alpha (often 0.05) to infer a relationship.

  • Regression Line10:12

    Explore how the fitted regression line links hours studied to test scores, with y = 15.79 + 0.9760x, r = 0.88, and 77% of variation explained.

  • Residuals4:16

    Learn to interpret residuals in a regression diagnostic plot in Minitab, identify patterns or large residuals, and understand that the sum of squared residuals is minimized for the best-fit line.

  • The p-Value and VIF4:31

    Apply minitab regression reports to interpret p-values and confirm the relationship between hours studied and test scores, and assess VIFs for co-linearity in anticipation of multiple regression.

  • The S-Value, Confidence and Prediction Intervals4:39

    The S value is the standard error, measuring the average distance from the regression line; the caption notes prediction intervals are broader than confidence intervals, with 95 percent confidence.

  • R-Squared6:08

    Learn how r-squared, the coefficient of determination, explains variance in the dependent variable; compare r-squared adjusted and r-squared predicted for models with multiple predictors in Minitab.

  • Quiz: Simple Linear Regression

Requirements

  • Some basic understanding of statistical concepts
  • You can download 30 days trial version of Minitab for practice from their website

Description

In this course, I will teach you one of the most commonly used analytical techniques: Regression Analysis.

This course covers the top of multiple regression analysis at the Six Sigma Master Black Belt level.

I will use Minitab 19 to perform the analysis. The focus of my teaching will be on explaining the concepts and on analyzing and interpreting the results of the analysis.

The course starts from the basics, covering the scatter plot and learning the simple regression with just one predictor. The analysis is conducted in Minitab 19, and the results of the output are explained in detail. To understand the concept, a simple example of hours of studies and marks obtained in the exam is taken. As you move through the course the example becomes more complex. In the end, we analyzed and modelled the insurance cost based on various factors.

This course also covers hypothesis testing, understanding the p-value to interpret the result.

Later, additional predictors are added to the regression model. The performance of the model is understood by interpreting the value of R-squared and adjusted R-squared.

The following concepts are covered in this course:

  • Simple Linear Regression

  • Multiple Regression

  • Nonlinear Regression (Polynomial)

  • Bias Variance Trade-off

  • Selecting features using Best Subsets and Stepwise selection approaches

  • Identifying Outliers

  • Training and Test Data - Validation set approach, Leave one out cross-validation and K-Fold Validation.

  • Predicting Response

  • Project Work - Medical Insurance Charges





Who this course is for:

  • Six Sigma professionals who want to take their understanding of Regression Analysis to the next level
  • Anyone who wants to get a more in-depth insight into interpreting the Regression results