All analysis, calculations, and explanations must be done in a single Excel file (use separate Excel sheets for each question). Upload the completed Excel file using the file extension format Lastname_Firstname_RegressionProblem.Regression ProblemSarah Anderson, the business analyst at TV Revolution, is conducting research on the dealership’s various television brands. She has collected data over the past year (2022) on the manufacturer, screen size, and price of various television brands. The data is given in the file below.You have been hired as an intern to run analyses on the data and report the results back to Sarah; the five questions that Sarah needs you to address are given below. Does there appear to be a positive or negative relationship between price and screen size? Use a scatter plot to examine the relationship.Determine and interpret the correlation coefficient between the two variables. In your interpretation, discuss the direction of the relationship (positive, negative, or zero relationship). Also discuss the strength of the relationship.Estimate the relationship between screen size and price using a simple linear regression model and interpret the estimated coefficients. (In your interpretation, tell the dollar amount by which price will change for each unit of increase in screen size).Include the manufacturer dummy variable (Samsung=1, 0 otherwise) and estimate the relationship between screen size, price and manufacturer dummy as a multiple linear regression model.Interpret the slope coefficients and their significance from your output in part (4). Include the following in your interpretation: Is the relationship between screen size and price positive, negative, or zero? Is the relationship between screen size and price statistically significant? Is the relationship between brand and price (Samsung or not Samsung) statistically significant? ManufacturerScreen Size (inches) Price ($)SharpSamsungSamsung46736.552115046895Sony40625Sharp42773.25SamsungSamsungSharp46 961.254068637 574.75Sharp461000Sony40 722.25Sony521307.5Samsung32 373.75Sharp37 657.25Sharp32 426.75SharpSamsung52138940 874.75Sharp32517.5Samsung521475Sony40 954.25Sony52 1551.5Sony461303Sony46 1430.5Sony521717

# Cleaning the extracted text data = """ Manufacturer Screen Size (inches) Price ($) Sharp 46 736.5…

Answered: Manufacturer Screen Size (inches) Price…

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter4: Polynomial And Rational Functions

Section4.6: Rational Functions

Problem 11SC: Find the mean hourly cost when the cell phone described above is used for 240 minutes.

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Question

All analysis, calculations, and explanations must be done in a single Excel file (use separate Excel sheets for each question). Upload the completed Excel file using the file extension format Lastname_Firstname_RegressionProblem.

Regression Problem

Sarah Anderson, the business analyst at TV Revolution, is conducting research on the dealership’s various television brands. She has collected data over the past year (2022) on the manufacturer, screen size, and price of various television brands. The data is given in the file below.

You have been hired as an intern to run analyses on the data and report the results back to Sarah; the five questions that Sarah needs you to address are given below.

Does there appear to be a positive or negative relationship between price and screen size? Use a scatter plot to examine the relationship.
Determine and interpret the correlation coefficient between the two variables. In your interpretation, discuss the direction of the relationship (positive, negative, or zero relationship). Also discuss the strength of the relationship.
Estimate the relationship between screen size and price using a simple linear regression model and interpret the estimated coefficients. (In your interpretation, tell the dollar amount by which price will change for each unit of increase in screen size).
Include the manufacturer dummy variable (Samsung=1, 0 otherwise) and estimate the relationship between screen size, price and manufacturer dummy as a multiple linear regression model.
Interpret the slope coefficients and their significance from your output in part (4). Include the following in your interpretation: Is the relationship between screen size and price positive, negative, or zero? Is the relationship between screen size and price statistically significant? Is the relationship between brand and price (Samsung or not Samsung) statistically significant?

Manufacturer
Screen Size (inches) Price ($)
Sharp
Samsung
Samsung
46
736.5
52
1150
46
895
Sony
40
625
Sharp
42
773.25
Samsung
Samsung
Sharp
46 961.25
40
686
37 574.75
Sharp
46
1000
Sony
40 722.25
Sony
52
1307.5
Samsung
32 373.75
Sharp
37 657.25
Sharp
32 426.75
Sharp
Samsung
52
1389
40 874.75
Sharp
32
517.5
Samsung
52
1475
Sony
40 954.25
Sony
52 1551.5
Sony
46
1303
Sony
46 1430.5
Sony
52
1717

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