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    Statistics: ANOVA, Relationships, and Regression

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    Obtain bivariate data from the Excel spreadsheet

    - Determine which is the independent and which is the dependent variable.
    - Create a scatter diagram.
    - Determine the coefficient of correlation and interpret.
    - Determine the equation of the regression line and explain.
    - Interpret each value in the regression equation and explain how the equation and line are related.
    - Graph the regression line on a scatter diagram.
    - Make a prediction for some value within the x-range and explain the meaning and the reliability of the prediction.
    - From your data set determine the point with the largest residual and explain its interpretation.
    - For the two (or more) sets of data from different populations:
    - Perform a hypothesis test for the difference of two independent means or an ANOVA.
    - Remember to show all steps including the statements of the hypotheses, conditions, computational results, decisions, and interpretation. These should be in paragraph form, not numbered.
    - Perform a hypothesis test for the difference of two means.
    - Remember to show all steps and to explain and give an interpretation of the results.

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    Solution Preview

    See the attached file.

    Take the stocks provided, and provide a set of bivariate data:

    Determine the independent and dependent variables.

    Bivariate data (X, Y):

    X = Independent variable is "Stock number from January 2010 through October 2010."
    There are stock numbers for three stocks types: X1 = McDonald, X2 =Wendy's and X3 =Sonic.

    Y = Dependent variable is "Price of Stocks."
    The three stock types would result in three independent variables: Y1, Y2 and Y3 correspondingly.

    Bivariate data (X, Y): (X1, Y1); (X2, Y2) and (X3, Y3).

    Create a scatter diagram

    Determine the coefficient of correlation and interpret.

    Coefficient of correlation
    McD Price Wendy's Price Sonic Price
    McD Price 1
    Wendy's Price -0.78 1
    Sonic Price 0.04 -0.12 1

    McD stock price is negatively associated with Wendy's stock price and almost independent of Sonic's stock price. Furthermore, Wendy's and Sonic's prices are negatively correlated. Thus, when McD's stock price increases (or decreases), Wendy's price decreases (or increases). McD's stock price has no effect on ...

    Solution Summary

    ANOVA, relationships and regression is examined in statistics.