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8.11 Using the data in the Excel file Demographics [attached], apply the Excel Regression tool using unemployment rate as the dependent variable and cost of living index as the independent variable.Interpret all key regression results, hypothesis tests, and confidence intervals in the output.Analyze the residuals to determine if the assumptions underlying the regression analysis are valid.Use the standard residuals to determine if any possible outliers exist.
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W2
8.11 Using the data in the Excel file Demographics, apply the Excel Regression tool using unemployment
rate as the dependent variable and cost of living index as the independent variable.
a) Interpret all key regression results, hypothesis tests, and confidence intervals in the output.
b) Analyze the residuals to determine if the assumptions underlying the regression analysis are
valid.
c) Use the standard residuals to determine if any possible outliers exist.
Demographic Data
Unemployment
Cost of Living Population
Metropolitan Area
State(July 1999) 1999 – US Avg = 100
(July 1999)
ANCHORAGE
AK
3.60%
125.90 257,808
BIRMINGHAM
AL
2.70%
99.10 915,077
HUNTSVILLE
AL
2.70%
95.20 343,418
MOBILE
AL
3.60%
91.80 535,472
MONTGOMERY
AL
2.90%
92.40 322,441
LITTLE ROCK
AR
3.20%
87.20 559,074
PHOENIX
AZ
2.60%
99.90 #######
TUCSON
AZ
2.30%
99.70 803,618
BAKERSFIELD
CA
12.50%
106.10 642,495
FRESNO
CA
13.80%
105.80 879,829
LOS ANGELES
CA
6.30%
122.00 #######
SACRAMENTO
CA
4.10%
114.00 #######
SAN DIEGO
CA
3.20%
122.80 #######
SAN FRANCISCO
CA
2.50%
144.70 #######
COLORADO SPRINGSCO
3.70%
96.80 499,994
DENVER
CO
2.60%
105.30 #######
PUEBLO
CO
5.80%
92.50 136,987
HARTFORD
CT
3.40%
121.80 #######
WASHINGTON
DC
2.90%
132.00 #######
WILMINGTON
DE
3.20%
108.10 571,420
FORT MYERS
FL
4.40%
97.20 400,542
JACKSONVILLE
FL
2.90%
95.40 #######
MIAMI
FL
6.70%
104.50 #######
ORLANDO
FL
2.90%
97.00 #######
PENSACOLA
FL
3.70%
93.60 403,384
TALLAHASSEE
FL
3.10%
100.10 200,003
TAMPA
FL
2.90%
97.80 #######
WEST PALM BEACH FL
5.60%
104.70 #######
ATLANTA
GA
3.00%
97.40 #######
COLUMBUS
GA
4.40%
93.90 271,417
MACON
GA
4.70%
95.10 321,586
DES MOINES
A
1.80%
94.70 443,496
DUBUQUE
A
2.60%
107.50
88,112
BOISE
ID
3.30%
102.70 407,844
POCATELLO
ID
4.50%
99.80
74,881
CHICAGO
IL
4.00%
121.60 #######
ROCKFORD
IL
4.10%
103.60 358,640
SPRINGFIELD
IL
3.60%
95.10 358,640
FORT WAYNE
IN
2.40%
93.30 484,320
INDIANAPOLIS
IN
2.30%
94.90
2
SOUTH SEND
IN
2.40%
90.90 258,537
TOPEKA
KS
4.30%
95.10 170,773
WICHITA
KS
3.30%
94.80 548,714
LEXINGTON
KY
1.90%
95.90 455,617
LOUISVILLE
KY
2.70%
92.80 #######
BATON ROUGE
LA
3.70%
98.50 578,946
NEW ORLEANS
LA
4.00%
94.50 #######
SHREVEPORT
LA
4.80%
94.90 377,673
BOSTON
MA
2.20%
136.80 #######
BALTIMORE
MD
4.70%
102.30 #######
DETROIT
MI
2.80%
113.00 #######
GRAND RAPIDS
MI
2.50%
102.10 #######
LANSING
MI
MINNEAPOLIS-ST.PAUL
MN
ROCHESTER
MN
COLUMBIA
MO
KANSAS CITY
MO
SPRINGFIELD
MO
ST. LOUIS
MO
JACKSON
MS
BILLINGS
MT
GREAT FALLS
MT
MISSOULA
MT
ASHEVILLE
NC
CHARLOTTE
NC
GREENSBORO-WNSTN-S
NC
RALEIGH
NC
WILMINGTON
NC
BISMARCK
ND
FARGO
ND
LINCOLN
NE
OMAHA
NE
CONCORD
NH
ATLANTIC CITY
NJ
ALBUQUERQUE
NM
LAS VEGAS
NV
RENO
NV
ALBANY
NY
BUFFALO
NY
NEW YORK
NY
ROCHESTER
NY
SYRACUSE
NY
AKRON
OH
CINCINNATI
OH
CLEVELAND
OH
COLUMBUS
OH
TOLEDO
OH
OKLAHOMA CITY
OK
TULSA
OK
EUGENE
OR
PORTLAND
OR
SALEM
OR
ALLENTOWN
PA
ERIE
PA
HARRISBURG
PA
PHILADELPHIA
PA
PITTSBURGH
PA
WILLIAMSPORT
PA
CHARLESTON
SC
COLUMBIA
SC
GREENVILLE
SC
RAPID CITY
SO
SIOUXFALLS
SO
KNOXVILLE
TN
MEMPHIS
TN
NASHVILLE
TN
ABILENE
TX
2.10%
1.50%
1.20%
1.40%
3.20%
2.50%
3.50%
2.80%
3.80%
5.70%
5.20%
3.30%
5.00%
2.80%
1.90%
4.20%
1.80%
1.10%
1.40%
1.90%
2.30%
12.70%
4.60%
3.30%
2.80%
3.10%
4.50%
7.60%
3.50%
3.40%
3.70%
3.20%
4.20%
2.50%
4.60%
3.00%
3.00%
5.10%
4.30%
5.50%
4.40%
4.70%
2.70%
4.00%
4.31%
5.10%
2.50%
1.80%
2.50%
2.40%
1.40%
3.40%
3.20%
2.50%
3.40%
102.90
99.70
97.50
93.10
96.10
94.50
97.40
94.30
102.70
102.50
101.80
100.00
96.80
97.50
97.30
97.80
99.90
100.80
88.80
92.30
108.80
132.60
102.80
105.60
111.80
109.70
97.30
226.50
110.40
102.90
96.30
101.10
106.00
101.40
96.90
90.20
89.40
108.90
107.30
103.30
104.40
101.60
104.90
127.40
113.30
97.50
95.20
94.20
95.20
100.20
96.60
93.80
95.30
91.70
91.80
450,789
#######
119,077
130,179
#######
308,332
#######
432,647
127,258
782,132
89,344
215,180
#######
#######
1,106
222,109
91,939
170,122
237,057
698,875
239,069
337,635
678,820
#######
319,816
869,474
#######
#######
#######
732,920
689,435
#######
#######
#######
608,976
#######
786,117
314,901
#######
335,156
618,350
276,993
618,375
#######
#######
116,709
552,803
516,251
929,565
88,117
164,481
672,087
#######
#######
122,478
AMARILLO
TX
AUSTIN
TX
CORPUS CHRISTI
TX
DALLAS-FORT WORTHTX
ELPASO
TX
HOUSTON
TX
SAN ANTONIO
TX
WACO
TX
SALT LAKE CITY
UT
NORFOLK
VA
RICHMOND
VA
ROANOKE
VA
BURLINGTON
VT
OLYMPIA
WA
SEATTLE
WA
SPOKANE
WA
YAKIMA
WA
GREEN BAY
Wl
LA CROSSE
WI
MILWAUKEE
Wl
CHARLESTON
WV
HUNTINGTON
WV
CASPER
WY
CHEYENNE
WY
3.10%
2.40%
6.40%
2.90%
9.80%
3.80%
3.20%
3.30%
2.70%
3.30%
2.80%
2.10%
1.90%
4.80%
3.10%
5.30%
11.70%
2.40%
2.50%
3.30%
4.40%
5.80%
5.00%
3.30%
90.00
100.90
93.60
101.80
95.00
96.80
99.60
92.10
100.90
100.50
102.00
93.00
109.60
103.40
119.70
106.70
102.60
97.00
98.50
107.50
96.60
100.80
101.40
95.00
208,691
#######
387,105
#######
701,908
#######
#######
204,244
#######
#######
961,416
277,741
165,917
205,459
#######
409,736
220,785
216,522
121,927
#######
251,199
312,447
63,157
78,877
8.11
Demographic Data
Metropolitan Area
State
ANCHORAGE
BIRMINGHAM
HUNTSVILLE
MOBILE
MONTGOMERY
LITTLE ROCK
PHOENIX
TUCSON
BAKERSFIELD
FRESNO
LOS ANGELES
SACRAMENTO
SAN DIEGO
SAN FRANCISCO
COLORADO SPRINGS
DENVER
PUEBLO
HARTFORD
WASHINGTON
WILMINGTON
FORT MYERS
JACKSONVILLE
MIAMI
ORLANDO
PENSACOLA
TALLAHASSEE
TAMPA
WEST PALM BEACH
ATLANTA
COLUMBUS
MACON
DES MOINES
DUBUQUE
BOISE
POCATELLO
CHICAGO
ROCKFORD
SPRINGFIELD
FORT WAYNE
INDIANAPOLIS
SOUTH SEND
AK
AL
AL
AL
AL
AR
AZ
AZ
CA
CA
CA
CA
CA
CA
CO
CO
CO
CT
DC
DE
FL
FL
FL
FL
FL
FL
FL
FL
GA
GA
GA
A
A
ID
ID
IL
IL
IL
IN
IN
IN
(July 1999)
1999 – US Avg = 100
(July 1999)
Unemployment
Cost of Living
Population
3.60%
2.70%
2.70%
3.60%
2.90%
3.20%
2.60%
2.30%
12.50%
13.80%
6.30%
4.10%
3.20%
2.50%
3.70%
2.60%
5.80%
3.40%
2.90%
3.20%
4.40%
2.90%
6.70%
2.90%
3.70%
3.10%
2.90%
5.60%
3.00%
4.40%
4.70%
1.80%
2.60%
3.30%
4.50%
4.00%
4.10%
3.60%
2.40%
2.30%
2.40%
125.90
99.10
95.20
91.80
92.40
87.20
99.90
99.70
106.10
105.80
122.00
114.00
122.80
144.70
96.80
105.30
92.50
121.80
132.00
108.10
97.20
95.40
104.50
97.00
93.60
100.10
97.80
104.70
97.40
93.90
95.10
94.70
107.50
102.70
99.80
121.60
103.60
95.10
93.30
94.90
90.90
257,808
915,077
343,418
535,472
322,441
559,074
3,013,696
803,618
642,495
879,829
25,366,576
3,328,431
2,820,844
8,559,292
499,994
4,417,908
136,987
1,147,504
4,739,999
571,420
400,542
1,056,332
2,175,634
1,535,004
403,384
200,003
2,278,169
1,049,420
3,857,097
271,417
321,586
443,496
88,112
407,844
74,881
8,008,507
358,640
358,640
484,320
2
258,537
TOPEKA
WICHITA
LEXINGTON
LOUISVILLE
BATON ROUGE
NEW ORLEANS
SHREVEPORT
BOSTON
BALTIMORE
DETROIT
GRAND RAPIDS
LANSING
MINNEAPOLIS-ST.PAUL
ROCHESTER
COLUMBIA
KANSAS CITY
SPRINGFIELD
ST. LOUIS
JACKSON
BILLINGS
GREAT FALLS
MISSOULA
ASHEVILLE
CHARLOTTE
GREENSBORO-WNSTN-S
RALEIGH
WILMINGTON
BISMARCK
FARGO
LINCOLN
OMAHA
CONCORD
ATLANTIC CITY
ALBUQUERQUE
LAS VEGAS
RENO
ALBANY
BUFFALO
NEW YORK
ROCHESTER
SYRACUSE
AKRON
CINCINNATI
CLEVELAND
COLUMBUS
TOLEDO
OKLAHOMA CITY
KS
KS
KY
KY
LA
LA
LA
MA
MD
MI
MI
MI
MN
MN
MO
MO
MO
MO
MS
MT
MT
MT
NC
NC
NC
NC
NC
ND
ND
NE
NE
NH
NJ
NM
NV
NV
NY
NY
NY
NY
NY
OH
OH
OH
OH
OH
OK
4.30%
3.30%
1.90%
2.70%
3.70%
4.00%
4.80%
2.20%
4.70%
2.80%
2.50%
2.10%
1.50%
1.20%
1.40%
3.20%
2.50%
3.50%
2.80%
3.80%
5.70%
5.20%
3.30%
5.00%
2.80%
1.90%
4.20%
1.80%
1.10%
1.40%
1.90%
2.30%
12.70%
4.60%
3.30%
2.80%
3.10%
4.50%
7.60%
3.50%
3.40%
3.70%
3.20%
4.20%
2.50%
4.60%
3.00%
95.10
94.80
95.90
92.80
98.50
94.50
94.90
136.80
102.30
113.00
102.10
102.90
99.70
97.50
93.10
96.10
94.50
97.40
94.30
102.70
102.50
101.80
100.00
96.80
97.50
97.30
97.80
99.90
100.80
88.80
92.30
108.80
132.60
102.80
105.60
111.80
109.70
97.30
226.50
110.40
102.90
96.30
101.10
106.00
101.40
96.90
90.20
170,773
548,714
455,617
1,005,849
578,946
1,305,479
377,673
3,297,201
2,491,254
4,474,614
1,052,092
450,789
2,872,109
119,077
130,179
1,756,899
308,332
2,569,029
432,647
127,258
782,132
89,344
215,180
1,417,217
1,179,384
1,106
222,109
91,939
170,122
237,057
698,875
239,069
337,635
678,820
1,381,086
319,816
869,474
1,142,121
20,196,649
1,079,073
732,920
689,435
1,960,995
2,221,181
1,489,487
608,976
1,046,283
TULSA
EUGENE
PORTLAND
SALEM
ALLENTOWN
ERIE
HARRISBURG
PHILADELPHIA
PITTSBURGH
WILLIAMSPORT
CHARLESTON
COLUMBIA
GREENVILLE
RAPID CITY
SIOUXFALLS
KNOXVILLE
MEMPHIS
NASHVILLE
ABILENE
AMARILLO
AUSTIN
CORPUS CHRISTI
DALLAS-FORT WORTH
ELPASO
HOUSTON
SAN ANTONIO
WACO
SALT LAKE CITY
NORFOLK
RICHMOND
ROANOKE
BURLINGTON
OLYMPIA
SEATTLE
SPOKANE
YAKIMA
GREEN BAY
LA CROSSE
MILWAUKEE
CHARLESTON
HUNTINGTON
CASPER
CHEYENNE
OK
OR
OR
OR
PA
PA
PA
PA
PA
PA
SC
SC
SC
SO
SO
TN
TN
TN
TX
TX
TX
TX
TX
TX
TX
TX
TX
UT
VA
VA
VA
VT
WA
WA
WA
WA
Wl
WI
Wl
WV
WV
WY
WY
3.00%
5.10%
4.30%
5.50%
4.40%
4.70%
2.70%
4.00%
4.31%
5.10%
2.50%
1.80%
2.50%
2.40%
1.40%
3.40%
3.20%
2.50%
3.40%
3.10%
2.40%
6.40%
2.90%
9.80%
3.80%
3.20%
3.30%
2.70%
3.30%
2.80%
2.10%
1.90%
4.80%
3.10%
5.30%
11.70%
2.40%
2.50%
3.30%
4.40%
5.80%
5.00%
3.30%
89.40
108.90
107.30
103.30
104.40
101.60
104.90
127.40
113.30
97.50
95.20
94.20
95.20
100.20
96.60
93.80
95.30
91.70
91.80
90.00
100.90
93.60
101.80
95.00
96.80
99.60
92.10
100.90
100.50
102.00
93.00
109.60
103.40
119.70
106.70
102.60
97.00
98.50
107.50
96.60
100.80
101.40
95.00
786,117
314,901
1,845,840
335,156
618,350
276,993
618,375
4,949,567
2,331,336
116,709
552,803
516,251
929,565
88,117
164,481
672,087
1,105,050
1,171,755
122,478
208,691
1,146,050
387,105
3,280,310
701,908
4,010,969
1,564,949
204,244
1,275,076
1,562,635
961,416
277,741
165,917
205,459
2,334,934
409,736
220,785
216,522
121,927
1,462,422
251,199
312,447
63,157
78,877
To apply the Excel Regression tool
1 In Excel go to Data tab, then Data Analysis
2 Select Regression
3 Input Variables in Range
Make sure your Check “Labels”, Residuals, and Residula Plots
4 View Regression table output results and use it to answer questions a, b, and c
a)
Check and explain the R square value, what does it mean in terms of model quality?
Check the Intercept and slope [regression coefficients], and associated P-value, decide if they are diffe
b)
Producing Residula table and plot can help you analyze residuals
c)
Check Residual Plot, and compare data points to zero line to determine outliers
ed P-value, decide if they are different from zero or not
8,11
Demographic Data
Metropolitan Area
State
ANCHORAGE
BIRMINGHAM
HUNTSVILLE
MOBILE
MONTGOMERY
LITTLE ROCK
PHOENIX
TUCSON
BAKERSFIELD
FRESNO
LOS ANGELES
SACRAMENTO
SAN DIEGO
SAN FRANCISCO
COLORADO SPRINGS
DENVER
PUEBLO
HARTFORD
WASHINGTON
WILMINGTON
FORT MYERS
JACKSONVILLE
MIAMI
ORLANDO
PENSACOLA
TALLAHASSEE
TAMPA
WEST PALM BEACH
ATLANTA
COLUMBUS
MACON
DES MOINES
DUBUQUE
BOISE
POCATELLO
CHICAGO
ROCKFORD
SPRINGFIELD
FORT WAYNE
INDIANAPOLIS
SOUTH SEND
AK
AL
AL
AL
AL
AR
AZ
AZ
CA
CA
CA
CA
CA
CA
CO
CO
CO
CT
DC
DE
FL
FL
FL
FL
FL
FL
FL
FL
GA
GA
GA
A
A
ID
ID
IL
IL
IL
IN
IN
IN
(July 1999)
1999 – US Avg = 100
(July 1999)
Unemployment
Cost of Living
Population
3,60%
2,70%
2,70%
3,60%
2,90%
3,20%
2,60%
2,30%
12,50%
13,80%
6,30%
4,10%
3,20%
2,50%
3,70%
2,60%
5,80%
3,40%
2,90%
3,20%
4,40%
2,90%
6,70%
2,90%
3,70%
3,10%
2,90%
5,60%
3,00%
4,40%
4,70%
1,80%
2,60%
3,30%
4,50%
4,00%
4,10%
3,60%
2,40%
2,30%
2,40%
125,90
99,10
95,20
91,80
92,40
87,20
99,90
99,70
106,10
105,80
122,00
114,00
122,80
144,70
96,80
105,30
92,50
121,80
132,00
108,10
97,20
95,40
104,50
97,00
93,60
100,10
97,80
104,70
97,40
93,90
95,10
94,70
107,50
102,70
99,80
121,60
103,60
95,10
93,30
94,90
90,90
257.808
915.077
343.418
535.472
322.441
559.074
3.013.696
803.618
642.495
879.829
25.366.576
3.328.431
2.820.844
8.559.292
499.994
4.417.908
136.987
1.147.504
4.739.999
571.420
400.542
1.056.332
2.175.634
1.535.004
403.384
200.003
2.278.169
1.049.420
3.857.097
271.417
321.586
443.496
88.112
407.844
74.881
8.008.507
358.640
358.640
484.320
2
258.537
TOPEKA
WICHITA
LEXINGTON
LOUISVILLE
BATON ROUGE
NEW ORLEANS
SHREVEPORT
BOSTON
BALTIMORE
DETROIT
GRAND RAPIDS
LANSING
MINNEAPOLIS-ST.PAUL
ROCHESTER
COLUMBIA
KANSAS CITY
SPRINGFIELD
ST. LOUIS
JACKSON
BILLINGS
GREAT FALLS
MISSOULA
ASHEVILLE
CHARLOTTE
GREENSBORO-WNSTN-S
RALEIGH
WILMINGTON
BISMARCK
FARGO
LINCOLN
OMAHA
CONCORD
ATLANTIC CITY
ALBUQUERQUE
LAS VEGAS
RENO
ALBANY
BUFFALO
NEW YORK
ROCHESTER
SYRACUSE
AKRON
CINCINNATI
CLEVELAND
COLUMBUS
TOLEDO
OKLAHOMA CITY
KS
KS
KY
KY
LA
LA
LA
MA
MD
MI
MI
MI
MN
MN
MO
MO
MO
MO
MS
MT
MT
MT
NC
NC
NC
NC
NC
ND
ND
NE
NE
NH
NJ
NM
NV
NV
NY
NY
NY
NY
NY
OH
OH
OH
OH
OH
OK
4,30%
3,30%
1,90%
2,70%
3,70%
4,00%
4,80%
2,20%
4,70%
2,80%
2,50%
2,10%
1,50%
1,20%
1,40%
3,20%
2,50%
3,50%
2,80%
3,80%
5,70%
5,20%
3,30%
5,00%
2,80%
1,90%
4,20%
1,80%
1,10%
1,40%
1,90%
2,30%
12,70%
4,60%
3,30%
2,80%
3,10%
4,50%
7,60%
3,50%
3,40%
3,70%
3,20%
4,20%
2,50%
4,60%
3,00%
95,10
94,80
95,90
92,80
98,50
94,50
94,90
136,80
102,30
113,00
102,10
102,90
99,70
97,50
93,10
96,10
94,50
97,40
94,30
102,70
102,50
101,80
100,00
96,80
97,50
97,30
97,80
99,90
100,80
88,80
92,30
108,80
132,60
102,80
105,60
111,80
109,70
97,30
226,50
110,40
102,90
96,30
101,10
106,00
101,40
96,90
90,20
170.773
548.714
455.617
1.005.849
578.946
1.305.479
377.673
3.297.201
2.491.254
4.474.614
1.052.092
450.789
2.872.109
119.077
130.179
1.756.899
308.332
2.569.029
432.647
127.258
782.132
89.344
215.180
1.417.217
1.179.384
1.106
222.109
91.939
170.122
237.057
698.875
239.069
337.635
678.820
1.381.086
319.816
869.474
1.142.121
20.196.649
1.079.073
732.920
689.435
1.960.995
2.221.181
1.489.487
608.976
1.046.283
TULSA
EUGENE
PORTLAND
SALEM
ALLENTOWN
ERIE
HARRISBURG
PHILADELPHIA
PITTSBURGH
WILLIAMSPORT
CHARLESTON
COLUMBIA
GREENVILLE
RAPID CITY
SIOUXFALLS
KNOXVILLE
MEMPHIS
NASHVILLE
ABILENE
AMARILLO
AUSTIN
CORPUS CHRISTI
DALLAS-FORT WORTH
ELPASO
HOUSTON
SAN ANTONIO
WACO
SALT LAKE CITY
NORFOLK
RICHMOND
ROANOKE
BURLINGTON
OLYMPIA
SEATTLE
SPOKANE
YAKIMA
GREEN BAY
LA CROSSE
MILWAUKEE
CHARLESTON
HUNTINGTON
CASPER
CHEYENNE
OK
OR
OR
OR
PA
PA
PA
PA
PA
PA
SC
SC
SC
SO
SO
TN
TN
TN
TX
TX
TX
TX
TX
TX
TX
TX
TX
UT
VA
VA
VA
VT
WA
WA
WA
WA
Wl
WI
Wl
WV
WV
WY
WY
3,00%
5,10%
4,30%
5,50%
4,40%
4,70%
2,70%
4,00%
4,31%
5,10%
2,50%
1,80%
2,50%
2,40%
1,40%
3,40%
3,20%
2,50%
3,40%
3,10%
2,40%
6,40%
2,90%
9,80%
3,80%
3,20%
3,30%
2,70%
3,30%
2,80%
2,10%
1,90%
4,80%
3,10%
5,30%
11,70%
2,40%
2,50%
3,30%
4,40%
5,80%
5,00%
3,30%
89,40
108,90
107,30
103,30
104,40
101,60
104,90
127,40
113,30
97,50
95,20
94,20
95,20
100,20
96,60
93,80
95,30
91,70
91,80
90,00
100,90
93,60
101,80
95,00
96,80
99,60
92,10
100,90
100,50
102,00
93,00
109,60
103,40
119,70
106,70
102,60
97,00
98,50
107,50
96,60
100,80
101,40
95,00
786.117
314.901
1.845.840
335.156
618.350
276.993
618.375
4.949.567
2.331.336
116.709
552.803
516.251
929.565
88.117
164.481
672.087
1.105.050
1.171.755
122.478
208.691
1.146.050
387.105
3.280.310
701.908
4.010.969
1.564.949
204.244
1.275.076
1.562.635
961.416
277.741
165.917
205.459
2.334.934
409.736
220.785
216.522
121.927
1.462.422
251.199
312.447
63.157
78.877
To apply the Excel Regression tool
1 In Excel go to Data tab, then Data Analysis
2 Select Regression
3 Input Variables in Range
Make sure your Check “Labels”, Residuals, and Residula Plots
4 View Regression table output results and use it to answer questions a, b, and c
a)
Check and explain the R square value, what does it mean in terms of model quality?
Check the Intercept and slope [regression coefficients], and associated P-value, decide if they are diffe
b)
Producing Residula table and plot can help you analyze residuals
c)
Check Residual Plot, and compare data points to zero line to determine outliers
ed P-value, decide if they are different from zero or not

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