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    Regression: Gambling and Winnings

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    Robert has the following accounts on money spent on gambling and winnings:
    Money Spent Money Won
    1000
    1200
    1800
    2000
    2500
    2800
    3500
    4000
    4200
    2500
    4000
    4500
    4600
    5000
    4800
    5600
    6000
    5800
    (a) (3 points) Use Excel to fit the above data into a regression line Write the equation of the line.
    (b) (2 points) Determine the correlation coefficient and the coefficient of determination, and interpret their
    values.
    (c) (2 points) Use the regression equation to forecast Robert's money won when $5000 is spent.
    (d) (2 points) Include a graph consisting of the above data points and the regression line.
    3

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    https://brainmass.com/statistics/regression-analysis/regression-gambling-winnings-coefficients-graph-288155

    Solution Summary

    The expert examines a regression analysis to provide a coefficient graph for gambling and winnings. A complete, neat and step-by-step solution is provided in the attached Excel file.

    $2.19

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