{"id":127753,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/week-7-project-part-c-regression-and-correlation-analysis"},"modified":"2017-08-16T06:22:26","modified_gmt":"2017-08-16T06:22:26","slug":"week-7-project-part-c-regression-and-correlation-analysis","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/week-7-project-part-c-regression-and-correlation-analysis\/","title":{"rendered":"week 7 Project Part C: Regression and Correlation Analysis"},"content":{"rendered":"<div class=\"the_content_wrapper\">\n<p>week 7 Project Part C: Regression and Correlation Analysis<br \/> Project Part C: Regression and Correlation Analysis<\/p>\n<p>Using MINITAB perform the regression and correlation analysis for the data on CREDIT BALANCE (Y) and SIZE (X) by answering the following.<br \/> 1. Generate a scatterplot for CREDIT BALANCE vs. SIZE, including the graph of the \u201cbest fit\u201d line. Interpret.<br \/> 2. Determine the equation of the \u201cbest fit\u201d line, which describes the relationship between CREDIT BALANCE and SIZE.<br \/> 3. Determine the coefficient of correlation. Interpret.<br \/> 4. Determine the coefficient of determination. Interpret.<br \/> 5. Test the utility of this regression model (use a two tail test with ? =.05). Interpret your results, including the p-value.<br \/> 6. Based on your findings in 1-5, what is your opinion about using SIZE to predict CREDIT BALANCE? Explain.<br \/> 7. Compute the 95% confidence interval for . Interpret this interval.<br \/> 8. Using an interval, estimate the average credit balance for customers that have household size of 5. Interpret this interval.<br \/> 9. Using an interval, predict the credit balance for a customer that has a household size of 5. Interpret this interval.<br \/> 10. What can we say about the credit balance for a customer that has a household size of 10? Explain your answer.<br \/> In an attempt to improve the model, we attempt to do a multiple regression model predicting CREDIT BALANCE based on INCOME, SIZE and YEARS.<br \/> 11. Using MINITAB run the multiple regression analysis using the variables INCOME, SIZE and YEARS to predict CREDIT BALANCE. State the equation for this multiple regression model.<br \/> 12. Perform the Global Test for Utility (F-Test). Explain your conclusion.<br \/> 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.<br \/> 14. Is this multiple regression model better than the linear model that we generated in parts 1-10? Explain.<br \/> 15. All DeVry University policies are in effect, including the plagiarism policy.<br \/> 16. Project Part C report is due by the end of Week 7.<br \/> 17. Project Part C is worth 100 total points. See grading rubric below.<br \/> 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.<br \/> Submission: The summary report + all of the work done in 1-14 (Minitab Output + interpretations) as an appendix.<br \/> Format:<br \/> A. Summary Report<br \/> B. Points 1-14 addressed with appropriate output, graphs and interpretations. Be sure to number each point 1-14.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>week 7 Project Part C: Regression and Correlation Analysis Project Part C: Regression and Correlation Analysis Using MINITAB perform the regression and correlation analysis for the data on CREDIT BALANCE (Y) and SIZE (X) by answering the following. 1. Generate <a href=\"https:\/\/www.benedictsol.com\/blogs\/week-7-project-part-c-regression-and-correlation-analysis\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-127753","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/127753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=127753"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/127753\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=127753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=127753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=127753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}