Hello, I had a couple of assignments today, this is just one of them. They are not very hard. So please do not ask so much for this assignment. I still have many more please

hw1156.xlsx

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MGMT 650 Fall 2017 Week 11 Homework (Last updated 7/11/2017)

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MGMT 650 Fall 2017 Week 11 Homework

(Last updated 7/11/2017)

work

1. Scatterplot and Correlation

Studies have shown that the frequency with which shoppers browse Internet retailers is related to the frequency

and/or services online. These data show the age of respondents and their answer to the question How many mi

week?

22

50

44

32

55

60

38

22

21

45

52

33

19

17

21

Browsing Time (min/wk)

492

186

180

384

120

120

276

480

510

252

126

360

570

588

498

Browsing Time against

700

browsing time(min/wk)

Age

600

500

400

300

200

100

0

0

10

20

30

a) Calculate the associated correlation coefficient and discuss how strong you think the relationship is between th

Correlation procedures within Excel under Data > Data Analysis.

b) Find the correlation coefficient using the Excel function CORREL.

c) Set up a scatter (xy) diagram with Age on the horizontal axis. Add the chart name and axes descriptions to your

d) Add a trendline to the diagram.

e) Find the equation of the regression line. (Hint: One way to do this is by adding the equation to the trendline. Go

f) Predict the number of minutes spent by a 40-year old shopper.

g) Can you use this data to predict the number of minutes spent by a 75 year old shopper? How about a 35 year o

elated to the frequency with which they actually purchase products

question How many minutes do you browse online retailers per

wsing Time against age

y = -11.503x + 750.02

R² = 0.9679

30

40

50

60

70

Age

lationship is between the age and the browsing time. Use the

xes descriptions to your chart.

tion to the trendline. Go to format trendline and find it there).

? How about a 35 year old?

2. Regression and Correlation

An agent would like to predict the monthly rental cost for apartments, based on the size of the apartment, as defi

sample of 25 apartments in a particular residential neighborhood and gathers the data shown in the table.

Size (Square feet)Rent (Dollars)

850

950

1450

1600

1085

1200

1232

1500

718

950

1485

1700

1136

1650

726

935

700

875

956

1150

1100

1400

1285

1650

1985

2300

1369

1800

1175

1400

1225

1450

1245

1100

1259

1700

1150

1200

896

1150

1361

1600

1040

1650

755

1200

1000

800

1200

1750

a) Find the correlation coefficient. Is it strong or weak? Positive or negative?

Run the Regression function from the Data Analysis tools and use the results to answer the following questions:

b) Find the equation of the regression line.

c) Find the slope, and interpret its meaning.

d) Compute the coefficient of determination, R Square, and interpret its meaning.

e) Compute the standard error of estimate, and interpret its meaning.

he size of the apartment, as defined by square footage. The agent selects a

data shown in the table.

nswer the following questions:

3. Scatterplot

a)

X

6.981

3.982

2.084

9.113

2.280

6.567

1.897

7.186

4.094

1.257

7.199

2.136

3.032

3.735

8.612

0.338

5.348

9.208

7.570

8.646

1.953

3.475

3.962

8.084

4.866

Make an XY scatter plot linked to the following data on this sheet.

Y

12.266

8.455

5.951

14.395

7.435

11.332

7.011

12.716

9.214

7.499

10.473

6.124

8.832

9.295

34.622

7.155

10.475

13.650

13.910

11.895

7.387

7.871

10.482

11.727

8.688

b)

The scatterplot reveals an outlier. Copy the data to a new sheet or a new area on this sheet, and remove th

c)

Right click on the points, Add Trendline, Display Equation on chart, Display R-Squared value on chart

d)

Read the intercept directly from the chart equation label. The elevation of the line above the origin with

e)

Read the slope directly from the chart equation label. The slope of the line with 3 decimal places =

f)

So, when X increases by 1, the change in Y =

g)

Read R

2

directly from the chart equation label. The amount of the variation in Y explained by X in percen

y?

a on this sheet, and remove the outlier. You should now have 24 rows of data above. Make a new scatterplot from the revised data.

-Squared value on chart

he line above the origin with 3 decimal places =

with 3 decimal places =

in Y explained by X in percent is =

7/8/2017 18:19

Question #

4

Highlight the correct answer or answers for each of the following questions

Basic Theory

The best fitting line is found using advanced math to minimize the vertical distances from the points to the li

Hence, the Y coordinate of a point on the best fitting line provides an estimate of Y at the value of the corres

This process is called regression (to move backward) because

? The estimate of Y will be closer to the mean in standard deviations than X is.

? The estimate of Y will be farther from the mean in standard deviations than X is.

5

Highlight all assumptions requiring validation for linear regression and prediction

? Scatter plot pattern is reasonably straight (Linearity)

? No points lie far enough away to pull the line of best fit away from the main point pattern.

? The plot does not fan out as x increases or decreases (Equal Spread)

? Predict Y at a value of X within the range of the X data

6

The “intercept” and “slope” completely define the best fitting line.

The intercept is the vertical distance from the origin (where the X and Y axes intersect) up to the line. It sets

? TRUE

? FALSE

7

As the slope increases

? The line moves up

? The line moves down

? The line rotates clockwise

? The line rotates counterclockwise

8

R2 measures the fit of the line to the points. As R2 increases

? The scatter about the line increases and the amount of the variation of Y explained by X decreases

? The scatter about the line decreases and the amount of the variation of Y explained by X increases

? The scatter about the line increases and the amount of the variation of Y explained by X increases

? The scatter about the line decreases and the amount of the variation of Y explained by X decreases

9

The correlation R measures the linear dependence of Y on X, and does not have a unit of measure.

? True

? False

10

Highlight the 3 correct statements

? X denotes the independent or response variable

? X denotes the independent or explanatory variable

? Y denotes the dependent or explanatory variable

? Y denotes the dependent or response variable

? x denotes the observed value of the dependent variable

? y

? denotes the mean value of observations of the response variable

tances from the points to the line.

e of Y at the value of the corresponding X coordinate

point pattern.

intersect) up to the line. It sets the elevation of the line

explained by X decreases

xplained by X increases

explained by X increases

xplained by X decreases

ave a unit of measure.

…

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