In classical statistics, linear regression is regarded as the ‘gateway to predictive modelling’. For decades students have been taught about regression from theory to practice simply because it still one of the most versatile and simple ways to understand and predict the effect of key factors on critical outcomes.
For instance, using regression you can:
- Estimate and predict outcomes such as revenue from sales, machine repair costs, traffic volumes or asset failure rates
- Predict what effect a change in advertising spend or price will have on your sales
- Understand the relative strength of different factors that influence your sales – do your sales depend more strongly on price or on advertising volume?
With this two-part video, in less than 20 minutes, Jarlath Quinn illustrates:
- The fundamentals of correlation analysis and linear regression
- How to build and interpret linear regression models in SPSS
- How to apply a regression model to make predictions
How to do linear regression in SPSS – video tutorial part one