1. What data did you use in your regression equation? Which is the independent a
ID: 3355036 • Letter: 1
Question
1. What data did you use in your regression equation? Which is the independent and dependent variable?
2. What is the regression equation, r, and R2 for your data?
3. Statistically, what does r and R2 tell you?
4. Based on your empirical evidence, how who well did you forecast your results? Justify your response.
You can use any method you like to complete this assignment; however, you need to show your work. Two items in Excel are useful. The correl function will return the correlation coefficient and add-in called "Data Analysis" has a function called regression that will provide all the rest of the information you should need.
ActualForecast WK 1 WK2 WK3 WK4 103 63 134 63 98 65 125 60Explanation / Answer
(a) forecast(y) is dependent variable and acutal (x)is independent variable
(b) regression equation is y=7.0243+0.8813x, r=0.9977, R2=0.9955
(c) r tells about the degree of linear relationship between x and y and it ranges between -1 and 1
R2 tells how much variation explained by the model, here model explains 99.55% variation and it ranges between 0 to 1
(d) for given value of x i.e. actual we calcuate or estimate the y with using equation y=7.0243+0.8813x,
for example if actual(x)=100 then forcast value will be y=7.0243+0.8813*100=99.1543
SUMMARY OUTPUT Regression Statistics Multiple R 0.997736998 R Square 0.995479118 Adjusted R Square 0.993218676 Standard Error 2.505894196 Observations 4 ANOVA df SS MS F Significance F Regression 1 2765.440989 2765.441 440.3915071 0.002263002 Residual 2 12.55901144 6.279506 Total 3 2778 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 7.024292635 4.011679898 1.75096 0.222053676 -10.23657283 24.2851581 X Variable 1 0.881275012 0.041994459 20.98551 0.002263002 0.700587439 1.061962585Related Questions
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