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Unit 5: Regression Basics Introduction Leo's Bisque Debacle and the Staffing Problem Introducing the Regression Line Summary The Uses of Regression...

Tab 1, 1c---I should be able to click on 43.7 and see the mathematical process in the fx-bar. This is the expectation on the course final as well as the expectation on the homework. Students are required to show they know how to arrive at correct answers using Excel, functions and or via applicable utility serving as the mathematical evidence.


2a---Scatter plot needs title
2b---Interpret the intercept coefficient

2e--- Incorrect conclusion---You will use the equation attained in 2b to predict the amount of rent for each apartment (This process will be shown on your work sheet.) In addition to displaying the mathematical process, I should be able to click on your answer for each prediction and see the mathematical process in the fx bar). The predicted amounts for each should be compared to the actual rent for each (should show the process which will display the difference). You will find that one apartment’s actual rent will be above the predicted amount and the other below the predicted amount . The apartment that is below the predicted amount would be the better deal
Unit 5: Regression Basics James Punday Introduction Panther ID 4606941 Leo's Bisque Debacle and the Staffing Problem Introducing the Regression Line Summary The Uses of Regression Using Regression for Forecasting The Structure of a Relationship Summary Exercise 1: Soft Drink Consumption Calculating the Regression Line The Accuracy of a Line Summary Identifying the Regression Line Summary Performing Regression Analysis in Excel Exercise 1: Soft Drink Consumption Revisited Deeper into Regression Quantifying the Predictive Power of Regression Summary Residual Analysis Summary Graphing Residual Lines and Residuals in Excel The Significance of Regression Coefficients Testing for a Linear Relationship Summary Revisiting R-squared and p Summary Solving the Staffing Problem Exercise 1: Inventories and Capacity Utilization Exercise 2: Clever Solutions Exercise 3: Productivity and Compensation At left you will see an outline of the topics covered in Unit 5: Regression Basics. There are two homework problems associated with this unit. There is one tab for each problem in this workbook. Once you have completed the unit online, you should attempt these problems and submit them to your coach for assessment and feedback.
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Moving Company Page 2 Cubic Feet (x) Hours (y) 545 24.00 400 13.50 562 26.25 540 25.00 220 9.00 344 20.00 569 22.00 340 11.25 900 50.00 285 12.00 865 38.75 831 40.00 344 19.50 360 18.00 750 28.00 650 27.00 415 21.00 275 15.00 557 25.00 1028 45.00 793 29.00 523 21.00 0.0501 564 22.00 312 16.50 -2.3697 757 37.00 600 32.00 796 34.00 When x = 920 cft, y = 0.0501(920)- 2.3697 = 43.7223 577 25.00 It requires 43.7 hours 500 31.00 695 24.00 Correlation coefficient, r = 0.9430 1054 40.00 The number of hours required to move x cft of items can be estimated using the regression model y = 0.0501x - 2.3697. The intercept has no meaning in this regression. 486 27.00 The slope 0.0501 means that as the items to be moved increase by 1 cft, the number of hours required to move increase by 0.05. The high value of r indicates a strong correlation 442 18.00 between the cft moved and the number of hours required. 1249 62.50 995 53.75 1397 79.50 Q-1a: Slope b1 = Q-1b: Intercept, b0 = Q-1c: The regression equation is y = b1x + b0, that is y = 0.0501x - 2.3697 The owner of a moving company would like to be able to predict the number of hours required to complete a move by using the number of cubic feet of items moved. He has collected data for 36 moves in which the origin and destination were within the city limits of Coral Gables and in which the travel time was an insignificant portion of the hours worked. Q-1a: What is the slope of the least squares regression line? (Round to four decimals.) Q-1b: What is the y-intercept of the least squares regression line? (Round to four decimals.) Q-1c: Predict the number of hours required to complete a move involving 920 cubic feet of items moved. (Round to one decimal place.) Summarize your findings
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Unit 5: Regression Basics
Introduction Leo's Bisque Debacle and the Staffing Problem
Introducing the Regression Line
Summary
The Uses of Regression
Using Regression for Forecasting
The Structure of...

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