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Regression Analysis and Operational Management

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This is a problem #7, chapter 9 - Regression Analysis, from the textbook by Cliff Ragsdale, "Spreadsheet Modeling and Decision Analysis".
This problem requires the use of Excel and the add-in, called Solver. The course is Excel-based and Solver is the optimization application used for all problems. Scatter plot of the data need to be prepared.

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Solution Preview

A. Scatter Plot

Cleary there is a linear relationship between the variables as the points are very close to the regression line.

B. Regression Model
Coefficients Standard Error t ...

Solution Summary

The solution provides step by step method for the calculation of Regression Analysis in Operational Management . Formula for the calculation and Interpretations of the results are also included.