Use Excel to find an estimated linear regression equation using X1 and X2 as the independent variables and Y as the dependent. Put your output on a fresh sheet. Then answer the following questions (excel chart in the picture) Write down the estimates regression equation What is the expected value of Y if X1 is 240 and X2 is 290? Show your calculation at a 5%level of significance, are the true coefficients of X1 and X2 different from zero? Justify briefly using numbers from your excel output. 4. Using Excel, determine a 97% confidence interval for the true coefficient of X1
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
Use Excel to find an estimated linear regression equation using X1 and X2 as the independent variables and Y as the dependent. Put your output on a fresh sheet. Then answer the following questions (excel chart in the picture)
- Write down the estimates regression equation
- What is the
expected value of Y if X1 is 240 and X2 is 290? Show your calculation - at a 5%level of significance, are the true coefficients of X1 and X2 different from zero? Justify briefly using numbers from your excel output.
4. Using Excel, determine a 97% confidence interval for the true coefficient of X1
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