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Regression Analysis

(a) Use Excel to make a scatter plot of the data. (b) Select the
data points, right-click, select Add Trendline, select the Options tab, and choose Display equation on chart
and Display R-squared value on chart. (c) Interpret the fitted slope. (d) Is the intercept meaningful? Explain.
(e) Interpret the R2.

Moviegoer Spending ($) on Snacks Movies

Age (X) Spent (Y)

30 2.85
50 6.50
34 1.50
12 6.35
37 6.20
33 6.75
36 3.60
26 6.10
18 8.35
46 4.35

Solution Preview

Please see the attachment for solution. Thank you.

c) The fitted regression equation is y = -0.053x + 6.9609.
The fitted slope (coefficient of x) indicates the average change in the y value for a unit increase in the x value. Here the fitted slope is -0.053. Since the slope is ...

Solution Summary

The solution contains the fitting of a trendline using regression analysis and its interpretation.

$2.19