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Project Part C: Regression and Correlation Analysis




Question;Project Part C: Regression and Correlation;Analysis;Your Instructor will;specify for you the dependent variable and the independent variables in your;Case and data. Using MINITAB perform the regression and correlation;analysis for the data by answering the following.;1.;Generate a scatterplot for the specified dependent variable and;the specified independent variable, including the graph of the "best;fit" line. Interpret.;2.;Determine the equation of the "best fit" line, which;describes the relationship between the dependent variable and the selected;independent variable.;3.;Determine the coefficient of correlation. Interpret.;4.;Determine the coefficient of determination. Interpret.;5.;Test the utility of this regression model (use a two tail test;with the? provided by your Instructor). Interpret your results, including the;p-value.;6.;Based on your findings in 1-5, what is your opinion about using;the designated independent variable to predict the designated dependent;variable? Explain.;7.;Compute the confidence interval for beta-1 (the population slope);using the confidence level specified by your Instructor. Interpret this;interval.;8.;Using an interval, estimate the average for the dependent variable;for a selected value of the independent variable (to be provided by your;Instructor). Interpret this interval.;9.;Using an interval, predict the particular value of the dependent;variable for a selected value of the independent variable (to be provided by;your Instructor). Interpret this interval.;10.;What can we say about the value of the dependent variable for;values of the independent variable that are outside the range of the sample values?;Explain your answer.;In an attempt to improve;the model, we will attempt to do a multiple regression model predicting the;dependent variable based on all of the independent variables.;11.;Using MINITAB run the multiple regression analysis using the designated;dependent and independent variables. State the equation for this multiple;regression model.;12.;Perform the Global Test for Utility (F-Test). Explain your;conclusion.;13.;Perform the t-test on each independent variable. Explain your;conclusions and clearly state how you should proceed. In particular, which;independent variables should we keep and which should be discarded. If any;independent variables are to be discarded, re-run the multiple regression;including only the significant independent variables, and include the final;Minitab output, with interpretation.;14.;Is this multiple regression model better than the linear model;that we generated in parts 1-10? Explain.;15.;All DeVry University policies are in effect, including the;plagiarism policy.;16.;Project Part C report is due by the end of Week 7.;17.;Project Part C is worth 100 total points. See grading rubric;below.;Summarize your results from 1-14 in a report that is three pages;or less in length and explains and interprets the results in ways that are;understandable to someone who does not know statistics.;Submission: The summary report + all of the work done in 1-14;(Minitab Output + interpretations) as an appendix.;Format for report;A.;Summary Report;B.;Points 1-14 addressed with appropriate output, graphs and interpretations.;Be sure to number each point 1-14.;Project Part C: Grading Rubric;Category;Points;%;Description;Questions;1 - 12 and 14 - 5 pts. each;65;65;addressed;with appropriate output, graphs and interpretations;Question;13;15;15;addressed;with appropriate output, graphs and interpretations;Summary;20;20;writing;grammar, clarity, logic, and cohesiveness;Total;100;100;A;quality paper will meet or exceed all of the above requirements.;Location;Income ($1,000);Size;Years;Credit Balance($);Urban;27;1;2;2,631;Rural;25;4;2;2,047;Suburban;25;1;1;3,155;Suburban;26;1;2;3,913;Rural;30;5;5;2,660;Urban;29;1;3;3,531;Rural;33;6;10;2,766;Urban;30;1;4;3,769;Suburban;32;2;4;4,082;Urban;34;1;6;3,806;Urban;35;1;8;4,049;Urban;40;1;9;4,073;Rural;30;6;9;2,697;Rural;33;6;11;2,914;Urban;42;2;10;4,073;Suburban;32;2;4;4,310;Urban;43;2;10;4,199;Urban;43;2;10;4,253;Rural;33;7;13;3,104;Urban;47;2;10;4,293;Suburban;35;3;5;4,456;Urban;54;2;11;4,340;Suburban;42;3;5;4,925;Rural;36;7;13;3,178;Urban;57;3;11;4,391;Suburban;44;3;6;4,947;Rural;38;7;15;3,203;Urban;54;3;8;4,354;Urban;54;3;10;4,366;Suburban;46;4;6;5,003;Rural;40;7;15;3,250;Urban;60;4;11;4,402;Urban;58;4;10;4,397;Urban;61;5;13;4,595;Urban;61;5;13;4,786;Urban;62;6;14;4,888;Suburban;49;5;8;5,148;Urban;68;6;14;5,011;Suburban;57;6;8;5,220;Rural;45;8;16;3,257;Urban;71;7;15;5,528;Suburban;57;7;9;5,283;Suburban;64;8;9;5,332;Rural;45;8;17;3,304;Urban;74;7;19;5,553;Suburban;65;8;10;5,484;Rural;47;8;18;3,342;Rural;53;8;18;3,788;Suburban;66;8;10;5,756;Suburban;69;8;10;5,861


Paper#61312 | Written in 18-Jul-2015

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