Week 7 MATH533 Exploratory Data Analysis

Table of Contents Regression and Correlation Analysis ……………………………………………………………………………….3 1. scatterplot for the specified dependent variable (Y) and the selected independent variable ( X ) ………………………………………………………………………………………………………………………………….3 2. Determine the equation of the "best fit" line, which describes the relationship between the dependent variable and the selected independent variable ……………..…………………….3 3. Determine the coefficient of correlation. Interpret. ……………………………………………………...3 4. Determine the coefficient of determination. Interpret …………………………………………………..4 5. Test the utility of this regression model, represented by a hypothesis test of b=0 using α = 0.10 …………………………………………………………………………………………………………………………… 4 6. Based on the findings in steps 1-5, analyze the ability of the independent variable to predict the dependent variable? ……………………………………………………………………………………4 7. Compute the confidence interval for b, using a 95% confidence level. Interpret this interval ………………………………………………………………………………………………………………………….4 8. Compute the 99% confidence interval for the dependent variable, for a selected value of the independent variable ………………………………………………………………………………………………5 9. Using the same chosen value for part (8), estimate the 99% prediction interval for the dependent variable. Interpret this interval …………………………………………………………………….6 10. What can be said about the value of the dependent variable for values of the independent variable that are outside the range of the sample values? ……………………………………………..6