Correlation & Regression

Correlation

1. What results in your departments seem to be correlated or related (either causal or not) to other activities?

2. How could you verify this?

3. What are the managerial implications of a correlation between these variables?

Regression

At times we can generate a regression equation to explain outcomes.  For example, an employee’s salary can often be explained by their pay grade, appraisal rating, education level, etc. 

1. What variables might explain or predict an outcome in your department or life? 

2. If you generated a regression equation, how would you interpret it and the residuals from it?