1) What is the regression equation?2) At x0 = 10 dollars per hour, what is the predicted value of y based on the regression equation above?3) What is the coefficient of the correlation and the coefficient of determination? Economic theory suggests that quit rate (quits per 100 employees) and average hourly wage are related. Thetable below lists quit rates () and the average hourly wage (r) in a sample of 15 manufacturing industries.ID2346.1011121314152.6 3.41.7 1.72.0 3.82.00.513.3 8.0 5.52.3 1.9 1.47.5 6.4 8.81.810.9 8.81.40.71.08.210.46.2 5.49.99.110.6This data set produces the following statistics: I = 8.6, 7 = 1.88, SSe = 68.82, Sy= -23.88, and= 11.324.

(1) Use EXCEL to determine the regression equation. EXCEL procedure: Go to EXCEL Go to Data>Data Analysis. Choose Regression. Input Y range as $A$1:$A$16. Input X range as $B$1:$B$16 Check the option Labels in First row. Click OK. EXCEL output: From the EXCEL output, the regression equation is,(2) Predict the value of when x equals 10. Sub x=10 in regression equation. Thus, the Predicted value of when x equals 10 is 1.3941.(3) Determine the value of coefficient of determination. From the EXCEL output, the value of coefficient of determination is 0.7317 Thus, the value of coefficient of determination is 0.7317. Determine the value of correlation. The value of correlation is obtained below as follows: That is, Thus, the value of correlation is –0.8554.

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What is the regression equation? 2) At x0 = 10 dollars per hour, what is the predicted value of y based on the regression equation above? 3) What is the coefficient of the correlation and the coefficient of determination?

What is the regression equation? 2) At x0 = 10 dollars per hour, what is the predicted value of y based on the regression equation above? 3) What is the coefficient of the correlation and the coefficient of determination?

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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