Regression Analysis1. Introduction
Provide the purpose of this report and an overview of its content (about 1 paragraph).
2. Regression Analysis Results
This section presents a statistical summary of the regression analysis using the following variables:
· Dependent variable: SALES (everyone must select this variable)
· Independent variable: CALLS (everyone must select this variable)
Use the table below to answer the questions in the COURSE PROJECT OVERVIEW page in the shell. If there is a difference in the way the questions are presented in the table and in the COURSE PROJECT OVERVIEW, please answer the questions as they are presented in the table below.
To get the numbers for the table below, use the Week 6 Excel spreadsheet calculator in the shell. To get an understanding of the interpretations, please see the Week 6 lecture notes and videos.
1. Scatter Plot
Use Excel OR another software package to create a scatter plot. Copy and paste the scatter plot. Make sure the dependent variable is on the Y-axis and the independent variable is on the X-axis. The axis should show the names of the variables.
2. Regression Equation
Put the regression equation here.
3. Coefficient of Correlation
Give the value of the coefficient of coefficient. Explain the type and strength of the correlation.
4. Coefficient of Determination
Give the value of the coefficient of determination. Interpret its value.
5. Results of the Hypothesis Test for Ho: B1 = 0 Ha: B1 ≠ 0
p-value: put the p-value
Result of test: Will you reject or not reject Ho. Explain how you reached your conclusion.
NOTE: For the hypothesis test use significance level of .05.
6. Interpretation of the result of the hypothesis test above
Is the regression model (regression equation) significant in predicting the dependent variable? Explain your answer based on whether or not you rejected Ho in #5 above.
7. 95% confidence interval for B1
Give 95% confidence interval for B1 (slope)
8. A. How many sales can we expect (estimate) for a sales person who made 140 calls?
B. What is the 99% confidence interval for the number sales estimated above?
C. What is the 99% prediction interval for the number sales made above?
Estimated number of sales for someone who made 140 calls: What will the estimated/predicted sales for someone who made 140 calls?
Confidence interval for estimated amount of sales: What is the 99% confidence interval for the estimate/prediction above?
Prediction interval for estimated sales: What is the 99% prediction interval for the estimate/prediction above?
3. Summary
Identify and describe TWO business decisions that could be made based on the results of this analysis. In other words, how might the business operations change based on these statistical results. Write one paragraph for each decision. Incorporate the results of your findings from section 2, but do not use technical jargon – use plain business language.
