In this student project, you will be researching and analyzing the linear relationship between a pair of variables of your choice using linear regression! You will have the opportunity to explore this technique and discover how linear regression works in practice.
Step 1: Research First, research linear regression and explore this technique. Understand how linear regression works and familiarize yourself with the mathematics behind it.
Step 2: Select Data Now, you will need to find a pair of variables to analyze. These can be variables of your choice, for example, the relationship between the price of a stock and its volume of trades over a particular period, or the relationship between the size of a house and its sale price in your city. Feel free to be creative with the data you select!
Step 3: Collect and Clean Data Next, you will need to collect your data. Data can be found online, or you can gather it yourself using surveys or interviews. Once your data is collected, you will need to clean the data – e.g. remove any outliers or corrupted entries, fill in any missing values, and standardize it to ensure it is ready for analysis.
Step 4: Run Analysis Once your data is clean and organized, you will analyze it with linear regression. This will enable you to identify the strength and direction of the link between your two variables, and identify any patterns or trends. As well as being able to quantify the relationship between the two variables.
Step 5: Interpret and Present Results Finally, you will interpret and present the results of your analysis so that it can be understood by others. This could be an oral or written report, a poster, a powerpoint presentation, or a website. Your interpretation should be backed up by visual representations of your analysis, such as graphs, tables, or diagrams.
Congratulations! You have now completed your student project on linear regression!
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