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Regression and scatter plot analysis

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(a) Make a scatter plot. (b) Let Excel estimate the regression line, with fitted equation and R2. (c) Describe the fit of the regression. (d) Write the fitted regression equation and interpret the slope e) Do you think that the estimated intercept is meaningful? Explain.

Data Set 1

Commercial Real Estate (X = assessed value, $000;Y = floor space, sq. ft.)

Assessed Size
1,796 4,790
1,544 4,720
2,094 5,940
1,968 5,720
1,567 3,660
1,878 5,000
949 2,990
910 2,610
1,774 5,650
1,187 3,570
1,113 2,930
671 1,280
1,678 4,880
710 1,620
678 1,820

Data Set 2

Sasnak Co. Salaries (X = employee age; Y = employee salary, $000) Salaries
Employee Age Salary
Mary 23 28.6
Frieda 31 53.3
Alicia 44 73.8
Tom 22 26
Gillian 25 34.3
Bob 54 63.5
Vivian 51 96.4
Cecil 60 122.9
Barry 40 63.8
Jaime 64 111.1
Wanda 34 82.5
Sam 63 80.4
Saundra 40 69.3
Pete 31 52.8
Steve 28 54
Juan 36 58.7
Dick 58 72.3
Lee 52 88.6
Judd 43 60.2
Sunil 28 61
Marcia 54 75.8
Ellen 44 79.8
Iggy 36 70.2

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https://brainmass.com/statistics/regression-analysis/regression-scatter-plot-analysis-233305

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Solution Summary

Uses Excel to make a scatter plot and fit a regression equation. Also interprets the slope and intercept values.

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See Also This Related BrainMass Solution

Regression Analysis Paper Scatter Plot

The U.S. Congress enacted legislation in 2005 authorizing Block Grants to cities as part of an Anti-Crime initiative. The grant monies are to be used to hire additional police officers for conducting beat patrols in high crime areas. As part of the determination for how much money to grant, nine cities in New Jersey were part of a pilot program to hire the additional officers. The Justice Department supplied the following results:

Grant ($) Number of Officers Hired

150000 2
375000 5
411125 6
70967 1
450000 6
525000 7
375370 7
750000 10
1000000 12

Philadelphia is considering a grant application. The Mayor has asked your office to analyze the data and determine what would be a statistically significant amount to request for the hiring of 6 officers.

In your analysis you need to include:

An assumption of an α = 0.05
Scatter plot of the data
Linear Regression plot
Discussion of how well the data fits the regression model
A plot of the residuals and discussion if there is Hetroscedasticity or Homoscedasticity
A prediction of the grant amount to hire 6 officers

Interpret the results of your regression hypothesis test.
Be sure to include your raw data tables and the results of your computations in your paper, using both graphical and tabular methods of displaying data and results.

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