Assignment #7 Part 1-Regression Analysis For the first part of this lab, you will be using two quantitative data variabl

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Assignment 7 Part 1 Regression Analysis For The First Part Of This Lab You Will Be Using Two Quantitative Data Variabl 1 (63.33 KiB) Viewed 59 times

Assignment #7 Part 1-Regression Analysis For the first part of this lab, you will be using two quantitative data variables to determine if there is a correlation between the two variables. Use the "Car Data" Excel data set included with your text, click on Data Sets to find the file: 1. Using the variables, Weight in Pounds and Miles per Gallon, determine the independent variable (X) and the dependent variable (y). Create and display a scatterplot. Describe the relationship you see in the plot. 2. At the 95% significance level, is there significant evidence of a relationship between Weight in Pounds and Miles per Gallon? Be sure to include your null and alternative hypothesis statements. Conduct a regression analysis to solve the problem. Make sure to present your conclusion. Include any Excel output in your answer. 3. What is the correlation coefficient and Interpret its meaning in the context of this question? 4. What is the R-squared value and interpret its meaning in the context of this question? 5. Determine the regression equation generated in Excel. Use the equation to predict the miles per gallon for a vehicle that weighs 3200 pounds. 6. Based upon your answers above, provide a paragraph (3-4 sentence) conclusion that would be appropriate to explain to a senior executive (who is not as familiar with statistics as you are!) why or why not using the regression equation to predict miles per gallon is a statistically sound idea. Part 2-Two Sample Hypothesis Testing Using the Retirement funds spreadsheet you used for Assignment #2, please determine if there is a significant difference between the average 3-year rate of return on Large Value and Large Growth stock funds. 1. Write a null and alternative hypothesis statement for the appropriate hypothesis test. 2. At the 95% significance level, is there significant evidence of a difference between fund rate of returns for Large Value stock funds and Large Growth stock funds? Conduct a t-test to solve the problem. Be sure to include if you are rejecting or not rejecting the null hypothesis. 3. Based upon your results above, provide a paragraph (3-4 sentence) conclusion that would be appropriate to explain the results to a senior executive that isn't as familiar with statistics as you are! Explain why senior executives would want to know these results.