MATH 534: Course Project Part C, Applied Managerial Statistics: Regression and Correlation Analysis
MATH 534: Course Project Part C, Applied Managerial Statistics: Regression and Correlation Analysis. Generate a scatterplot for the specified dependent variable (Y) and the X1 independent variable, including the graph of the "best fit" line. Interpret. Fitted Plot Line. Determine the equation of the "best fit" line, which describes the relationship between the dependent variable and the selected independent variable. y = 0.0707x + 31.2 3. Determine the coefficient of correlation. Interpret. The correlation coefficient between sales and calls is calculated as 0.. This is a moderate positive correlation between number of calls and number of sales. P Value = 0.000 4. Determine the coefficient of determination. Interpret. It is more commonly known as R squared value. It measures how close the data points are to the line. The coefficient of determination .0722. 7.2% of the variations can be explained by knowing the number of calls made. SUMMARY OUTPUT Regression Statistics Multiple R 0. R Square 0. Adjusted R Square 0. Standard Error 4. Observations 100 5. Test the utility of this regression model. Interpret results, including the p-value. H0: (Null Hypothesis) – There is not significant correlation H1: (Alternate Hypothesis)- There is correlation either negative or positive.
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