Question

In: Statistics and Probability

Using the data given below, answer the following questions: X 20 31 50 57 61 62...

  1. Using the data given below, answer the following questions:

X

20

31

50

57

61

62

72

79

81

88

y

25

39

42

45

47

80

81

93

68

99

Note: As a way to check your data entry, Âxy = 41600 for this data.

The value of the correlation coefficient, r, is _______________________

The linear regression equation is: y = ________________________________________________ PHOTO (data lists and output)

Briefly discuss whether this line a good fit for the data and why (or why not).  

Use your calculator to graph the data and vjg"tgitguukqp"nkpg0"*FqpÓv"hqtigv"vq"¦qqo"vq"{qwt"fcvc0+""

PHOTO (graph)

Solutions

Expert Solution

Dear student, please comment in the case of any doubt and I would love to clarify it

We will be applying the Linear regression model here, it can be done by using the function LINEST(y_value, x_value, TRUE, TRUE) where y_values contain values of y here and x_values have x values.

Select 5 rows and 2 columns and then write the formula in the first cell and after that, press Shift + Ctrl + Enter.   

The equation comes out to be-

y = 0.21 + 1.03*x  

The correlation comes out to be 0.88, it was calculated using the function CORREL(array1, array2) where array1 is x values and array2 is y values.


Related Solutions

Given the data set below, use it to answer the following questions: 10, 20, 30, 40,...
Given the data set below, use it to answer the following questions: 10, 20, 30, 40, 50 a. Find the standard deviation b. Add 5 to each data set value and find the standard deviation. c. Subtract 5 from each value and find the standard deviation. d. Multiply by 5 on each value and find the standard deviation. e. Divide by 5 on each value and find the standard deviation. f. Generalize the results in parts a-e.
Answer the following questions using the data given below. Moviegoer Spending on Snacks (n = 10)...
Answer the following questions using the data given below. Moviegoer Spending on Snacks (n = 10) Age (X) ($) Spent (Y) 30 6.85 50 10.50 34 5.50 12 10.35 37 10.20 33 10.75 36 7.60 26 10.10 18 12.35 46 8.35 Use Excel to make a scatter plot of the data. Select the data points, right-click, select Add Trendline, select the Options tab, and choose Display equation on chart and Display R-squared value on chart. Picture Click here for the...
Given the following estimated demand equation Answer the following questions “From the data for 50 States...
Given the following estimated demand equation Answer the following questions “From the data for 50 States in the United States , the following Regression Equation was estimated: Ln C =    5.75 – 1.29 LnP + 0.67 LnY - 0.022LnA - 0.03LnExcT T- Stats:    (0.91) (1.45)       (2.45)   (1.02)             (2.04)           R2 = 0.87; T- table value at 95%; and 46 degrees of freedom is 1.96. Where C = Cigarette consumption packs per year    P = real...
Given the following estimated demand equation Answer the following questions “From the data for 50 States...
Given the following estimated demand equation Answer the following questions “From the data for 50 States in the United States for 2015, the following Regression Equation was estimated: Ln C =             5.75 – 1.29 LnP + 0.67 LnY - 0.022LnA - 0.03LnExcT T- Stats:           (0.91) (1.45)       (2.45)           (1.02)          (2.04)                             R2 = 0.87; T- table value at 95%; and 46 degrees of freedom is 1.96. Where C = Cigarette consumption packs per year             P = real...
answer the following questions using rhe x-y data set below: X: 2, 6, 5, 4, 8,...
answer the following questions using rhe x-y data set below: X: 2, 6, 5, 4, 8, 4, 1 Y: 18, 51, 43, 32, 65, 34, 7 use the regression equation to predict a value of y when x=3
. Using the financial statement and data below answer the following questions: Financial Statement Data and...
. Using the financial statement and data below answer the following questions: Financial Statement Data and Stock Price Data for Flextronics (All data as of fiscal year end; $ in millions) Income Statement 2012 2013 2014 2015 2016 Revenue 404.3 363.8 424.6 510.7 604.1 Cost of Goods Sold -188.3 -173.8 -206.2 -246.8 -293.4 Gross profit 216 190 218.4 263.9 310.7 Sales and Marketing -66.7 -66.4 -82.8 -102.1 -120.8 Administration -60.6 -59.1 -59.4 -66.4 -78.5 Depreciation & Amortization -27.3 -27 -34.3...
Using data set E, answer the questions given below. DATA SET E Microprocessor Speed (MHz) and...
Using data set E, answer the questions given below. DATA SET E Microprocessor Speed (MHz) and Power Dissipation (watts) (n = 14 chips)   Chip Speed (MHz) Power (watts)   1989 Intel 80486 20       3         1993 Pentium 100       10         1997 Pentium II 233       35         1998 Intel Celeron 300       20         1999 Pentium III 600       42         1999 AMD Athlon 600       50         2000 Pentium 4 1300       51         2004 Celeron D 2100...
QUESTION 1 (20 Marks) REQUIRED In view of the information given below, answer the following questions:...
QUESTION 1 REQUIRED In view of the information given below, answer the following questions: 1.1 Explain THREE (3) costs or risks to businesses of holding little or no cash. 1.2 Explain THREE (3) motives for holding cash. 1.3 What advice would you offer financial managers to ensure the effective of cash?
Complete parts​ (a) through​ (h) for the data below. x- 40, 50, 60, 70, 80 y-62,...
Complete parts​ (a) through​ (h) for the data below. x- 40, 50, 60, 70, 80 y-62, 58, 55, 47, 33 B) Find the equation of the line containing the points (50, 58) and (80, 33) y=__x+(__) D) By hand, determine the least-squares regression line The equation of the​ least-squares regression line is given by ModifyingAbove y with caret equals b 1 x plus b 0y=b1x+b0 where b1 equals r times StartFraction s Subscript y Over s Subscript x EndFractionb1=r•sysx is...
Use the following data to answer the questions below:
Use the following data to answer the questions below:             Q                 VC             MC           AVC              1                 $10              ___            ___                                   2                16              ___            ___                       3                20              ___            ___                                   4                25              ___            ___              5                31              ___            ___              6                  38              ___            ___                  7                  46              ___            ___8                  55              ___            ___9                  65              ___            ___         a. Calculate the marginal cost and average variable cost for each level of production.b. How much would the firm produce if it could sell its product for...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT