Regression as an Executive Tool
|
Group
mean
|
Individual
|
| Interpolate |
Extrapolate |
Interpolate |
Extrapolate |
| Predict |
Most Reliable
|
|
|
|
Select
|
|
|
|
|
Influence
|
|
|
|
|
| Credit & Blame |
|
|
|
Least Reliable
|
"Insight" = the ability to do these informally in conjunction with other
kinds of evidence in a larger context.
Confidence interval for a group mean versus prediction interval for an
individual
"Credit & Blame"
Multicollinearity and the relative importance of variables
As you move down the table above, multicollinearity
becomes more and more of an issue.