Regression Project Worksheet

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Regression Project Worksheet

Description

Watch the Project video below for a demonstration of how to create the printouts that you will need.

Please Note: You should use all 75 of your observations for this project EXCEPT for the very last question. On that question you should be only using 50 observations. You should use only two of your three locations or models, and recode them to 0's and 1's before creating the x12, x1x2, and x12x2terms that we have talked about in lectures.

Project video:  Project Description/Printout Demonstration

Explanation & Answer length: 10 questions

QMB 3200 Name ________________________ Project 3 Summer 2021 Instructions: 1. Answer the following short answer questions regarding your regression project. 2. Make sure to answer in the words of your data set when appropriate 3. This project is worth 40 points PART I - Data Description –

1. Describe the dependent variable that you are trying to predict in your project. Identify the units that it will be measured in. (2 points)

2. Describe the quantitative independent variable that you are using in your project. Identify the units that it will be measured in. (2 points)

3. Give your experimental unit (the item you measured to get the values of your variables) for this data. (2 points) Create the printout necessary for conducting a SLR analysis of your project data. Use y=price as your dependent variable and x=mileage/size as your independent variable. Copy and paste the printout here: Print in a 10-font and paste your printout here: PART II – Model Interpretations - Answer the following questions about your regression model.

4. Is the interpretation of your y-intercept estimate practical for your model? Why or why not? (4 points)

5. Interpret the slope interpretation in the words of the problem. (4 points)

6. Interpret the standard deviation of your model in the words of the problem. (4 points)

7. Interpret the Coefficient of Determination (R-squared) in the words of the problem. (4 points)

8. Give the following information for testing whether your independent variable is a useful linear predictor of your dependent variable. Make sure you conduct the appropriate onetailed test for your variables. (6 points) Test:

9. Ho: Test Statistic: ____________ Ha: P-value: _____________ State the appropriate conclusion for your test in the words of the problem. You choose the α to test at. (4 points) For the prediction and confidence interval, use the independent variable from observation #12 as your value of X. Copy and paste the printout here: Predicted/Fitted Values of Price

10. Give the interpretation for the prediction interval for y shown above in the words of the problem. (4 points)

11. Attach the Global-F printout that you obtain after creating all the model terms (x12, x1x2, and x12x2) that are needed for our multiple regression model building. Please watch the videos shown in Canvas for instructions on creating this printout. (4 Points) Global-F Printout.

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