In: Statistics and Probability
Problem 5 (14 Marks)
Research into the relationship between hours of study and grades
shows widely...
Problem 5
Research into the relationship between hours of study and grades
shows widely different conclusions. A recent survey of graduates
who wrote the Graduate Management Admissions Test (GMAT) had the
following
results.
Hours
Studied
Average
(Midpoint) Score
40
200
50
290
65
335
75
445
85
530
105
650
95
690
- Run the regression analysis in Excel on this data. Include your
output with your answer. (Note: You may calculate by hand if you
prefer).
- What is the regression equation for this relationship?
- Use the regression equation to predict the average score for
each category of hours studied.
- Plot the original data and the regression line on a scatter
gram. (You may use Excel).
- How accurate is this regression at predicting GMAT scores based
on hours studied? Explain.
- Use the t statistic to determine whether the Correlation
Coefficient is “significant” at the 95% confidence level.