I have an assignment that must be done on R/R studio R/RStudio - Chapter 4- Correlation...

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.

Solutions

Expert Solution

orchestra answered 1 year ago

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