Regression analysis
Not what you're looking for?
Please see the attached file.
Please answer these questions based on the data file Packages.
a. Develop a scatter plot of the data with the dependent variable, cost, on the vertical axis and the independent variable, weight, on the horizontal axis. Does there appear to be a relationship between the two variables? Is the relationship linear?
b. Compute the sample correlation coefficient between the two variables. Conduct a test, using a significance level of 0.05, to determine whether the population correlation coefficient is significantly different from zero.
c. Using a simple linear regression equation to predict the cost of shipping various items. Would you recommend it use a second-order polynomial model instead? Is the second-order polynomial model a significant improvement on the simple linear regression equation?
d. A decision was made to stop shipping products if the shipping charges exceed $100. The company has asked you to determine the maximum weight for future shipments. Do this for both the first - and second-order models you have developed.
Purchase this Solution
Solution Summary
Step by step method for regression analysis is discussed here. Regression coefficients, coefficient of determination, scatter diagram and significance of regression model are explained in the solution.
Purchase this Solution
Free BrainMass Quizzes
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.