A marketing professor at Givens College is interested in the relationship between hoursspent studying and total points earned in a course. Data collected on 156 students whotook the course last semester are provided in the file MktHrsPts.a. Develop a scatter chart for these data. What does the scatter chart indicate about therelationship between total points earned and hours spent studying?b. Develop an estimated regression equation showing how total points earned is relatedto hours spent studying. What is the estimated regression model?c. Test whether each of the regression parameters b0 and b1 is equal to zero at a 0.01level of significance. What are the correct interpretations of the estimated regressionparameters? Are these interpretations reasonable?d. How much of the variation in the sample values of total point earned does the modelyou estimated in part b explain?e. Mark Sweeney spent 95 hours studying. Use the regression model you estimated inpart b to predict the total points Mark earned.
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.
A marketing professor at Givens College is interested in the relationship between hours
spent studying and total points earned in a course. Data collected on 156 students who
took the course last semester are provided in the file MktHrsPts.
a. Develop a scatter chart for these data. What does the scatter chart indicate about the
relationship between total points earned and hours spent studying?
b. Develop an estimated regression equation showing how total points earned is related
to hours spent studying. What is the estimated regression model?
c. Test whether each of the regression parameters b0 and b1 is equal to zero at a 0.01
level of significance. What are the correct interpretations of the estimated regression
parameters? Are these interpretations reasonable?
d. How much of the variation in the sample values of total point earned does the model
you estimated in part b explain?
e. Mark Sweeney spent 95 hours studying. Use the regression model you estimated in
part b to predict the total points Mark earned.
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