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Thread: Regression analysis to estimate vaue of independent variables!!

  1. #1 Regression analysis to estimate vaue of independent variables!! 
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    Hi,

    I would like to know wheather regression analysis can be performed to find the contribution of each of the independent variable to the value of dependent variable.

    In my case i know the value of dependent variable, and have 3 independent variables, i need to know the contribution of each variable. I cant consider independent variable as dependent and carryout regression as it is intangible


    Your help will be highly appreciated

    Thanks


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  3. #2  
    Forum Professor wallaby's Avatar
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    No, typically we do regression with a set of data that has been obtained, in which the data collector assigns an output value corresponding to known inputs. What kind of data do you have and how did you get it?


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  4. #3  
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    Hi,

    I want to measure the performance of purchase department in term of the cost variation achieved in the items sourced.

    Cost variation depends(considered) on 1. market Price, 2. Purchase Department effort.

    I have calculated the cost variation comparing to the last year price. So, i know the value of dependent variable. I need to know the contribution of market price and Purchaser effor in arriving at that variation

    Any kind of help is appreciated

    Thanks
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  5. #4  
    Forum Professor wallaby's Avatar
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    Ok so you want to know if the purchasing department has an effect on the cost variation and you need to take market price into consideration to make the results accurate. It also sounds like you can find out the market price, if that's what you meant by
    I have calculated the cost variation comparing to the last year price.
    If this is all correct then it seems like the easy thing to do would be combine the cost variation and market price data, say cost variation relative to market price = cost variation / market price. Then what you do is perform a one way ANOVA, with the purchase department as the treatment (independent) variable.

    This is all assuming you have enough data points to obtain valid results.
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  6. #5  
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    Thanks a lot Mr. Forum Professor Wallaby for your reply,

    I have calculated variation in percentage by Purchased Price Variation (USD)/(Average Purchased Price) * 100.

    You want me to find in a similar way with Market Price in place of purchased Price.

    I Dont know about ANOVA, But, i will defnetly learn if it solves my problem.

    Thanks
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  7. #6  
    Forum Professor wallaby's Avatar
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    Quote Originally Posted by arjun patil View Post
    You want me to find in a similar way with Market Price in place of purchased Price.
    well just combine them in some way to give you a meaningful indicator of performance of each department, that's what i think would be the easiest thing to do. Otherwise what you need to read up on is what is known as ANCOVA, it's a hybrid of ANOVA and regression and so not really recommended unless you're comfortable with both of those processes. (or have some statistics software that makes it extremely easy to do)
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  8. #7  
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    okay, thanks!!
    I will do some work and get back to you
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