Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN: 9781305627734
Author: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher: Cengage Learning
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Chapter 7, Problem 6P
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 tile 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 β0 and β1 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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Chapter 7 Solutions
Essentials of Business Analytics (MindTap Course List)
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