4-1 Data Set Homework- Correlation and Regression on Data Set 2

docx

School

Lower Columbia College *

*We aren’t endorsed by this school

Course

QSO510

Subject

Statistics

Date

Jan 9, 2024

Type

docx

Pages

Uploaded by annacarr4

4-1 Data Set Homework: Correlation and Regression on Data Set 2 Southern New Hampshire University QSO-510-X2467 Quantitative Analysis

Methodology A regression equation is a mathematical formula that predicts the value of a dependent variable, y, based on one or more independent variables. The independent variables are called predictors and the dependent variable is called the response (2021). For example, if you want to know what the relationship between two variables are, then the regression equation can be used. A regression equation uses data from the past and predicts future values of other variables using those past values. Regression algorithm is used to find the value of a function that minimizes or maximizes a cost function (2021). The cost function is defined as the difference between two values, where one of them is the output and other one is input. Regression algorithm finds a point in space and time when these two values are minimum or maximum. This helps us to predict future data points with high accuracy. Analysis After 30 weeks, a small manufacturing company collected the number of defective flash drives produced each week. The company reviewed their defective flash drives and decided to use the regression equation to predict the future number of defective flash drives. After calculations in Excel, the regression equation of provided data set is y = 0.0474x + 6.2989 R2 = 0.091812. Slope measured at 0.047386, meaning that the defective flash drives are increasing each week by 0.047386. The y-intercept measured at 6.299, the number of faulty flash drives when the week is at 0. The scatterplot shows a positive correlation. The appendix shows further statistical output of the dataset. Because the R2 was only measuring at 0.091812 showing a weak correlation between the two variables, there must be another variable that is affecting the number of the defective flash drives within the small manufacturing company.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

References Regression equation: What it is and how to use it . Statistics How To. (2021, June 8). Retrieved November 25, 2022, from https://www.statisticshowto.com/probability-and- statistics/statistics-definitions/what-is-a-regression-equation/

Related Documents

WS_6 (1).pdf

Activity 7- Statistics Exercise III.docx

Activity 10- Statistics Exercise IV .docx

MAT 240 Project One Template.docx

Assgnment 3.docx

2-1 Data Set Homework- Descriptive Statistics Data Set 1.docx

STA 144 HW 4.docx

W7_Hendrickson_Assignment.docx

Josh Pethel DA Lab 3.docx

ABrown_T2 Article Summary Template 2023.docx

Screenshot 2023-12-09 223401.png

ABA 622 SAFMEDS Week 4.docx

Recommended textbooks for you

Functions and Change: A Modeling Approach to Coll...

Algebra

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Cengage Learning

Algebra and Trigonometry (MindTap Course List)

Algebra

ISBN:9781305071742

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:Cengage Learning

College Algebra

Algebra

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:Cengage Learning

Glencoe Algebra 1, Student Edition, 9780079039897...

Algebra

ISBN:9780079039897

Author:Carter

Publisher:McGraw Hill

College Algebra

Algebra

ISBN:9781337282291

Author:Ron Larson

Publisher:Cengage Learning

SEE MORE TEXTBOOKS

Recommended textbooks for you

Functions and Change: A Modeling Approach to Coll...
Algebra
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:Cengage Learning
College Algebra
Algebra
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
College Algebra
Algebra
ISBN:9781337282291
Author:Ron Larson
Publisher:Cengage Learning