A business statistics professor would like to develop a regression model to predict the exam scores for students based on their current GPAs, the number of hours they studied for the exam, and the number of times they were absent during the semester. The data for these variables can be found in this file. a) Run the multiple regression in Excel. Hint: set x1 = GPA, x2 = Hours, X3 = Absences. b) Find the R2 and explain its meaning. c) Explain the outcome of the F test. What does it mean? d) Explain the outcomes of the t te
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 business statistics professor would like to develop a regression model to predict the exam scores for students based on their current GPAs, the number of hours they studied for the exam, and the number of times they were absent during the semester. The data for these variables can be found in this file.
a) Run the multiple regression in Excel. Hint: set x1 = GPA, x2 = Hours, X3 = Absences.
b) Find the R2 and explain its meaning.
c) Explain the outcome of the F test. What does it mean?
d) Explain the outcomes of the t tests for the slope coefficients.
e) Write out the regression equation.
f) Explain the meanings of the slope coefficients.
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