Essay Assignment CH18-19

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Miami University *

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225

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Electrical Engineering

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Dec 6, 2023

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Course: ISA 225 Essay Assignment (Chapter 18-19) (20 pts) Due: 10/19 Wed. Class Time Student Name: Section: Part 1 (9 Points) Fill in the 9 missing values for the partial output below. Show your work here: R squared = = 2610.4683 / 8608.2310 = .30 R square adj = 1 – (1-.3) (442-1/442-4-1) = .3027 Root mean square error = sqr 13.72486 = 3.704 Obs = 441 + 1 = 442 Error df = 441 – 4 = 437 Model sum of sq = 8608.2310 – 5997.7627 = 2610.4683 Error mean sq = 5997.7627 / 437 = 13.72486 Model F ratio = 652.617/ 13.72486 = 47.55 HDL t ratio = -.097587/ .014432 = -6.76185 Part2 (11 Points) Consider the following two models Dr.Sevkli Page 1 of 4

Course: ISA 225 Essay Assignment (Chapter 18-19) (20 pts) Due: 10/19 Wed. Class Time Dr.Sevkli Page 2 of 4

Course: ISA 225 Essay Assignment (Chapter 18-19) (20 pts) Due: 10/19 Wed. Class Time 1. The total credit card volume for Visa, MasterCard, American Express, and Discover has increased dramatically in recent years. Ten years of Credit Card Volume in billions of dollars was recorded and modeled. Models 1 & 2 are both models for Credit Card Volume. A. Using Model 1, explain the meaning of R 2 , in context. (3 Points) The meaning of R^2 is that 94.6% of all credit cards have been fit under the model. It tells us the proportions of the total variance used in model 1. B. Using Model 1, explain whether the model is overall significant. State the test you used and the specific values on the output. (use “4 steps” p-value approach) (2 Points) H0 : b1 = 0 HA : b1  0 P value = .0001 P value is very small soi reject the null hypothesis the independent variable is significant to the model, therefore thew model is significant C. What is the standard error of residuals in the Model 2? ____________ 54.46 = sqr 2966 (1 Points) D. Using Model 2, explain whether there is evidence that the Year is significant and what that means about the relationship between Credit Card Volume. (Consider α=0.05) (use “4 steps” p-value approach) (3 Points) H0: b2 = 0 Ha: b2  0 3.85/ 2.12= 1.816 = TS is different than 0 P value is .0543 P value > .05 Thus we fail to reject the null hypothesis at the .05 alpha. Therefore the Year is significant Dr.Sevkli Page 3 of 4

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Course: ISA 225 Essay Assignment (Chapter 18-19) (20 pts) Due: 10/19 Wed. Class Time E. Which model is “better” for modeling Credit Card Volume, Model 1 or Model 2? Give two (or three) pieces of supporting evidence including the specific values for each. (2 Points) Model 2 is a better way if predicting credit card volume because Model 2 has a larger R^2 than Model 1, and Model 2 also has a smaller root mean square error which means model 2 has less margin of error for its predictions. Dr.Sevkli Page 4 of 4

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