Using Excel, create scatter plots and display the regression equations for the following pairs of variables:...

Using Excel, create scatter plots and display the regression equations for the following pairs of variables:
“MedAge” versus “Sales/SqFt”
In your report, include the scatter plots. For each scatter plot, designate the type of relationship observed (increasing/positive, decreasing/negative, or no relationship) and determine what you can conclude from these relationships.

Sales/SqFt

701.97 209.93 364.92 443.04 399.20 264.64 571.59 642.25 461.45 638.82 484.38 581.09 267.71 572.84 586.48 368.73 351.47 458.24 987.12 357.45 405.77 680.80 368.02 303.95 393.90 562.12 494.88 310.07 373.46 235.81 413.08 625.22 274.30 542.62 178.56 375.33 329.09 297.37 323.17 468.84 352.57 380.34 398.12 312.15 452.16 698.64 367.19 431.93 367.06 400.53 414.36 481.11 538.06 330.48 249.93 291.87 517.40 551.58 386.81 427.50 453.94 512.46 345.27 234.04 348.33 348.47 294.95 361.14 467.71 403.78 245.74 339.94 400.82 326.54

MedAge

34.4 41.2 40.3 35.4 31.5 36.3 35.1 37.6 34.9 34.8 36.2 32.2 30.9 37.7 34.3 32.4 32.1 31.4 30.4 33.9 35.6 35.9 33.6 37.9 40.6 37.7 36.4 40.9 35.0 26.4 37.1 30.3 31.3 29.6 32.9 40.7 29.3 37.3 39.8 33.9 35.0 35.0 35.9 33.0 30.9 38.5 40.5 32.1 34.8 38.0 37.0 34.7 36.4 36.8 32.2 34.8 36.7 33.8 34.2 39.0 34.9 39.3 35.6 36.0 41.1 24.7 40.5 32.9 30.3 36.2 32.4 43.5 41.6 31.4

Expert Solution

Following is the scatter plot the given data;

Scatter plot shows a very weak negitive relationship between the variables.

Let Y denote Sales/SqFt and X denote MedAge.

Following is the output of regression analysis generated by excel

SUMMARY OUTPUT

Regression Statistics
Multiple R	0.059787205
R Square	0.00357451
Adjusted R Square	-0.010264733
Standard Error	137.9420885
Observations	74

ANOVA
	df	SS	MS	F	Significance F
Regression	1	4914.708539	4914.708539	0.258287967	0.6128524
Residual	72	1370017.425	19028.01979
Total	73	1374932.133

	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%
Intercept	499.3391617	156.3353519	3.194025891	0.002082334	187.6903378	810.9879856
MedAge, X	-2.245190974	4.417750666	-0.508220392	0.6128524	-11.05181585	6.561433903

The regression equation is

y' = 499.339 - 2.245x

Following is the scatter plot with regression line:

orchestra answered 1 year ago

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