Lesson: Regression Analysis

In this lesson, Nick Palazzolo, CPA, breaks down the mystifying concept of regression analysis into digestible parts, making it less intimidating and more understandable. He starts by revisiting the basics of regression, explaining the difference between dependent and independent variables, and how they relate to forecasting and predicting business outcomes. Nick deftly illustrates how simple and multiple regressions can reveal connections between variables—like how sleep affects mood—and uses relatable examples to highlight how these relationships can be quantified in business contexts. He further clarifies the concept of correlation coefficient and its significance in determining the strength of relationships between variables, ensuring that grasping this foundational tool in analytics is approachable and retains a hint of humor to keep the atmosphere light.