# Regression: Gambling and Winnings

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

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.