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What are the model correlation coefficient

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Assignment: The Metro ridership in D.C. is believed to be tied to the number of tourists visiting the city. It has changed over the years as the population in DC has fluctuated. During the past 12 years, the following data have been obtained

Year (X1)

Numer of Tourists (X2) (in millions)

Ridership (Y) (in millions)

1

7

1.5

2

2

1

3

6

1.3

4

4

1.5

5

14

2.5

6

15

2.7

7

16

2.4

8

12

2

9

14

2.7

10

20

4.4

11

15

3.4

12

7

1.7

Develop a linear regression analysis where the year and number of tourists as treated as independent variables and the ridership as the dependent variable. Use Excel to get the summary output.

Answer the following questions in a detailed manner to get full credits.

  1. What's the regression equation?
  2. What are the model's correlation coefficient and coefficient of determination? Interpret  and discuss these values
  3. What is the model F-stat? Interpret this value
  4. Comment on the outcomes of p-value statistics.
  5. What other factors (independent variables) would you recommend to add in a future study?

Reference no: EM133031472

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