Different and Measurable Variables
Statistics play a critical hand in determining the relationship among different variables. One of the more commonly applied principles of this discipline is the Multiple Regression Analysis, which is used when reviewing three or more measurable variables.
When translated in mathematical terms, Multiple Regression Analysis means that there is a dependent variable, referred to as Y. The rest would then be regarded as X or independent variables. The goal is to formulate an equation that will determine the Y variable in a linear function of corresponding X variables.
Too complicated? Then some Multiple Regression Analysis examples below can shed some light to an otherwise obscure statistical equation.
Given the rigid requirements of running a business operation, the ability to correlate data is very critical. An example of how useful Multiple Regression Analysis could be can be seen in determining the compensation of an employee.
Following the Y and X components of this specific operation, the dependent variable (Y) is the salary while independent variables (X) may include: scope of responsibility, work experience, seniority, and education, among others. By matching the Y to the X, then the salary can be determined in a very objective manner.
Another use of Multiple Regression Analysis for business purposes can be gleaned for a real estate agent. Again, the dependent (Y) is the price of the house. On the other hand, the independent (X) variables point to the different factors that could affect the listing price of the Y variable.
The price can be correlated to various elements, such as the size, neighborhood, and other subjective ratings of the property for sale. That way, a fair amount can be duly attributed to a certain item, not simply mere estimation of its market value.
For Medical Purposes
Aside from business, a medical procedure can serve as a good Multiple Regression Analysis example. This is very important, given that precision and the ability to foresee outcomes are necessary for good patient care.
One scenario would be during surgery, especially when a new drug is being administered. If a surgeon wants to lower blood pressure using this particular medicine (the Y variable), then he needs to look into the dose administered together with the systolic blood pressure reached during interventions like surgeries.
For Research Projects
Ultimately, this process is widely used for social science research. Whether professional or for academic, this statistical operation can answer one of the more often-asked question in any research project: What is the best determiner of…?
For psychologists that want to delve into the minds of psychopaths, they can draw up variables that directly affect one’s mental health then deduct the elements that can cause such abnormal behavior. Another example can be cited in education research, especially when comparing attainment and other important milestones in a child’s learning journey.
The same can be said for the natural sciences, as Multiple Regression Analysis can put understanding into research whose scope needs to cover so much ground. By simply determining a fixed variable, the conclusion can be easily tracked and discovered.
Handbook of Biological Statistics: Multiple regression. (n.d.). Welcome to the University of Delaware. Retrieved July 16, 2010, from https://udel.edu/~mcdonald/statmultreg.html
Multiple Regression. (n.d.). Data Mining, Statistical Analysis, Software and Services, Credit Scoring | StatSoft. Retrieved July 16, 2010, from https://www.statsoft.com/textbook/multiple-regression/
Oxford Journals | Medicine | Journal of Tropical Pediatrics | Research Methods II: Multivariate Analysis. (n.d.). Oxford Journals. Retrieved July 16, 2010, from https://www.oxfordjournals.org/our_journals/tropej/online/ma_chap3.pdf