Explore BrainMass

Explore BrainMass

    Scatter Plot, Trendline Equation, Correlation and Regression

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    1. Make an Excel scatter plot. What does it suggest about the population correlation between X and Y?

    Part-Time Weekly Earnings ($) by College Students

    Hours Worked (X) Weekly Pay (Y)
    10 93
    15 171
    20 204
    20 156
    35 261

    2. Make an Excel scatter plot. What does it suggest about the population correlation between X and Y? (Add the equation to the chart)

    Data Set Telephone Hold Time (min.) for Concert Tickets
    Operators (X) Wait Time (Y)
    4 385
    5 335
    6 383
    7 344
    8 288

    3. Interpret the slope of the fitted regression HomePrice = 125,000 + 150 SquareFeet. (b) What
    is the prediction for HomePrice if SquareFeet = 2,000? (c) Would the intercept be meaningful if
    this regression applies to home sales in a certain subdivision?

    4. Choose one of these three data sets. (a) Make a scatter plot. (b) Let Excel estimate the regression line, with fitted equation and R2. (c) Describe the fit of the regression.

    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

    © BrainMass Inc. brainmass.com June 3, 2020, 11:45 pm ad1c9bdddf
    https://brainmass.com/statistics/statistical-figures/295640

    Attachments

    $2.19

    ADVERTISEMENT