Using the same variables perform a simple regression on

Assignment Help Basic Statistics

Reference no: EM13632528

Identify two important operating standards that are routinely measured in your organization. These measures must be "paired observations" and must also meet the criteria for a quantitative measure (i.e. either interval or ratio level of measurement). Obtain 20 paired observations.

Purpose: To demonstrate the application of Correlation and Regression analysis in your organization.

Example: Standard measures that fit these requirements might be total electricity demand measured in kilowatts (ratio level), and outside temperature measured in degrees Fahrenheit (interval level). The hotter outside temperature the higher the electricity demands will be.

Identify which of the two variables is the logical choice for the dependent variable (Y), and which is the independent variable (X). In the example above the electricity demand is a logical choice for the dependent variable (Y), and outside temperature is a logical choice for independent variable (X).

Using the same variables, perform a simple regression on EXCEL, and determine the regression equation.

Identify the Correlation coefficient, and coefficient of determination from the Excel output.

Interpret your correlation and regression coefficients. Is simple regression a good prediction model for the example you have provided?

Reference no: EM13632528

Questions Cloud

Statistics - degrees of freedom independent two sample test : statistics - degrees of freedom independent two sample test?a independent two-sample test with n134 and n242 would have

Derive an expression for the buoyant force on a spherical : derive an expression for the buoyant force on a spherical balloon as it is submerged in water as a function of the

Determine the ratio of duct exit pressure to duct inlet : air enters subsonically from standard atmosphere and flows isentropically through the frictionless and adiabatic

The cost per tool is 50 use the appropriate taylor : assume a labor rate of 50.00hr and a burden rate of 25hr. assume a surface speed of 2000 ftmin. the number of teeth on

Using the same variables perform a simple regression on : identify two important operating standards that are routinely measured in your organization. these measures must be

The weekly mean income of a group of executives is 998 and : 1. the weekly mean income of a group of executives is 998 and the standard deviation of this group is 99. the

Let x and y be chosen at random from the interval 0 1 which : let x and y be chosen at random from the interval 0 1. which pairs of the following events are independent?a x gt 13.b

Estimate the magnitude and location of the resultant force : a water tower sits atop a residential building as shown in the figure below. a 0.3m x 0.3m patch was used to repair

What is the distribution and parameters for f what is the : in the very large lecture class chem 115 85 of students passed the first exam. joe did poorly and wants to start a

User Account

All Pages