ELP 302 - Data and Decisions II

2 Unit(s)

The module continues with learning how to formulate hypotheses and choosing the right tests to use in crunching data. Additionally, lessons will be taught on how to make a decision: types of errors, Area of Rejection vs. P-value. There will also be a focus on understanding independent and dependent variables as well as correlation coefficient, correlation vs. causation. Thereafter, there will explanations about regression, least square method, and ANOVA output. Also, the sensitivity analysis and understanding how changing independent variables affect the dependent variables will be examined.