In: Statistics and Probability
I have an assignment that must be done on R/R studio
R/RStudio - Chapter 4- Correlation and Regression
Step 1 – Download and Install the R/RStudio software on your computer. The link and instructions to do that are on Blackboard under Course Information.
Step 2 – Access the Data Sets in MyLab through StatCrunch. In chapter 4, a data set called “Used BMW prices 2017” is what we’ll use.
Step 3 – When you open the data set in StatCrunch, export it to an Excel spreadsheet and save it on your computer.
Step 4 - Go back to R/RStudio and Import the excel spreadsheet to R/RStudio.
Note: Help with the software is at the end of the chapter called Tech Support (also on the R/RStudio reference card) and of course in the software.
This is the data from stat crunch = statcrunch.com/app/?dataurl=www.statcrunch.com%2Fbooksets%2Fsharpe_sbs4e%2Fdataset%2FUsed_BMW_prices_2017.txt&dlim=tab&ft=true#
This is where you download R =. https://cran.r-project.org
This is where you download rstudio =. https://rstudio.com/products/rstudio/download/#download
This is the assignment that must be done on RSTUDIO
- Regress Price (Y axis) on Model Year (X axis). Ignore the mileage data.
- Create a Scatterplot of the data including a least-squares regression line through the dots.
- Run Summary Statistics on the Data showing the (1) correlation coefficient, (2) y-intercept of the regression line (alpha) and (3) the beta coefficient (slope) of the line.
- Print out the scatterplot and the summary statistics and hand them in.