From the course: AI and Data-Driven Decision-Making for HR
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Statistics: Correlation and regression analysis
From the course: AI and Data-Driven Decision-Making for HR
Statistics: Correlation and regression analysis
Let's dig a little deeper into correlation and regression analysis. These are inferential statistical tools. And while similar, you use them for different purposes. Correlation analysis measures the strength and direction of the linear relationship between two variables. You'll figure this out by calculating the correlation coefficient, which is the slope of the line. In this sample graphic, it shows a positive correlation between role clarity and job satisfaction with a correlation coefficient of 0.7. This data is from the sample data set. For an HR person, it's important to note that the correlation coefficient is a number that ranges from minus one, meaning a strong negative relationship, to plus one, meaning a strong positive relationship. When the correlation coefficient is around zero, it means there is no linear relationship. Let me remind you, though, that if any of these terms are confusing, just ask ChatGPT to explain what they mean. Regression analysis involves creating a…
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