The University has provided you with a dataset relating to 1,000 former students. Of a long list of variables in the data, one variable is IPi, which has a value of 1 if the i th student undertook an industrial placement and 0 otherwise. In modelling the impact of a range of student characteristics on the probability of an individual student under-taking an industrial placement: Explain why an Ordinary Least Squares model is inappropriate and suggest an alternative approach.

The University has provided you with a dataset relating to 1,000 former students. Of a long list of variables in the data, one variable is IPi, which has a value of 1 if the i th student undertook an industrial placement and 0 otherwise. In modelling the impact of a range of student characteristics on the probability of an individual student under-taking an industrial placement: Explain why an Ordinary Least Squares model is inappropriate and suggest an alternative approach.

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter7: Distance And Approximation

Section7.3: Least Squares Approximation

Problem 29EQ

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Concept explainers

Correlation

Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

Linear Correlation

A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.

Regression Analysis

Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.

Question

The University has provided you with a dataset
relating to 1,000 former students. Of a long list of
variables in the data, one variable is IPi, which has a
value of 1 if the i th student undertook an industrial
placement and 0 otherwise. In modelling the impact
of a range of student characteristics on the
probability of an individual student under-taking an
industrial placement:
Explain why an Ordinary Least Squares model is
inappropriate and suggest an alternative approach.

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