In 1-3 sentences, define each of the following terms in your own words and provide an example: Correlation coefficient Linear regression Small sample bias Common cause relationship
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- 18Help me answer the questionQ1 Collect sufficient data about any two quantitative variables (logically correlated) using reasonable sets of values (At least 20 values). Use Microsoft Excel and answer the following: First: Determine the independent variable and the dependent variable. Second: Make the correlation analysis, determine the correlation coefficient, and interpret it. Third: Conduct the regression analysis and answer the following questions: What is the type of regression in your example? Write the sample size. Find the degrees of freedom. Find the value of the coefficient of determination, and interpret it. Is your model valid? Why? Is the independent variable having a significant effect on the dependent variable? Why? Write down the regression line equation. Estimate the value of ŷ at any value of X.Consider a panel data set and the following regression model. Yit Bo + B₁Xit + ++ Uit What do subscripts / and t refer to? O A. Subscripts i and tidentify different time periods. O B. Subscripts / and t identify the entity and time period respectively. OC. Subscripts i and t identify different individuals. O D. Subscripts i and t identify the time period and entity respectively.
- Oil and Gas Prices The average gasoline price per gallon (in cities) and the cost of a barrel of oil are shown for a random selection of weeks from 2009 -2010. Is there a linear relationship between the variables? Oil ($) 84.32 , 58.93 , 56.44 , 73.38 , 50.66 , 47.73 Gasoline ($) 2.976 , 2.516 , 2.677 , 2.728 , 2.360 , 2.420 Draw the scatter plot for the variables. Compute the value of the correlation coefficient r= state the hypothesis h0: h1: critical value(s) reject or accept the null hypothesis Give a brief explanation of the type of relationshipR3Attention: These data are different from your previous questions! Now Lynn takes a different approach. They collect another two samples - GPA from students taking a semester of in-class courses, and then the same students' GPA when they are taking a semester of online courses. The data set is below. They predict that they will find a difference between in-class GPA and online GPA for the same students. Differences Between GPA's Student In Class GPA Online GPA Amy 4.0 3.5 Brad 3.5 2.2 Caroline 3.7 2.0 Dan 3.5 3.5 Emily 3.6 3.3 Frank 3.2 3.2 George 3.3 2.1 What is the t-statistic for this t-test? (Round to 2 decimal places.)
- rent funding: The following table presents the budget (in millions of dollars) for selected organizations that received U.S. government funding for arts and culture in both 2004 and 2006. Use a TI-84 calculator to answer the following. Organization 2004 2006 National Endowment for Arts 121 124 National Gallery of Art 88 95 Kennedy Center for the Performing Arts 17 18 Commission of Fine Arts Advisory Council on Historic Preservation What is the correlation coefficient r? What is the least-squares regression line? Round the final answers to four decimal placesPost secondary education information was examined for a random selection of states. The data below show the number of community colleges in the number of universities for each particular state. Community: 12, 17, 13, 10, 8 University: 4, 6, 5, 4, 3 A. Create a scatterplot of the given data sets B. Find the correlation coefficient of the sets of data. C. Create the equation of the regression line for the data and evaluate it when X=300.Correlation and linear regression
- What is the coefficient of the dummy variable? What is the meaning of the coefficient of the dummy variable?The director of surgery at a local hospital is interested in understanding his unit’s costs. An assistant collected data for the past 36 months on unit cost (labor, supplies, and so on) along with the number of procedures performed in the unit. The assistant analyzed the data using a spreadsheet program, and the following output was generated. Equation Intercept $ 1,006,000 Coefficient on procedures $ 230 Statistical data Correlation coefficient 0.518 R2 0.268 The unit is planning to perform an average 18,5000 procedures per month for the coming year. Required A: Use the regression output to write the surgical unit cost equation. Surgical unit cost = ____________ + __________ x Procedures Required B: Based on the cost equation,…17. Measles and Mumps A researcher wishes to see if there is a relationship between the number of reported cases of measles and mumps for a recent 5-year pe- riod. Is there a linear relationship between the two variables? Measles cases 43 140 71 63 212 Mumps cases 800 454 1991 2612 370 Source: U.S. Department of Health. 10-16
