Students in QMB 3600-Quantitative Methods in Business course decided to research the relationship between the Mid Term Exam, the average number of study hours spent per week during the semester and the 2. final course grade for a given student. A sample of containing data from a previous semester was provided by the instructor and summarized in the following table: Average Number of study hours per week Student # Mid-Term Exam Final Course Grade Grade 50.0 2.0 65.0 60.0 4.0 85.0 55.0 3.5 78.0 85.0 6.0 90.0 55.0 5.0 70.0 6. 72.0 4.5 89.0 7. 75.0 6.5 91.0 8. 45.0 3.0 65.0 88.0 5.5 89.0 10 90.0 7.5 96.0 Develop a linear regression model, where Y is the Final Grade Course and X is the Mid-Term Exam. Coofficient of determination (r?), the coefficient of correlation (r), the variance (o?) for the model a) 123 4nuD

Binary, or Yes/No data are easily summarized numerically with median proportion sum Opi chart

Why is it important to understand statistics when assessing and designing research?

Q1]. [30%] The data for this question given in the table below come from the sample data folder of MINITAB. The data give you the monthly number of people employed (in units of 1000) in the retail trade industry in the state of Wisconsin from January 1970 to December 1974. Copy this timeseries data into an excel spreadsheet in your home area first before you start your analysis. You can use Excel to answer this question. Month 1970 1971 1972 1973 1974 1 322 322 330 348 361 2 317 318 326 345 354 3 319 320 329 349 357 4 323 326 337 355 367 5 327 332 345 362 376 6 328 334 350 367 381 7 325 335 351 366 381 8 326 336 354 370 383 9 330 335 355 371 384 10 334 338 357 375 387 11 337 342 362 380 392 12 341 348 368 385 396 (a) (b) (c) (d) Draw a time series plot of the data and comment on any noticeable patterns. Describe an appropriate time series model for this data, giving your reasons, and obtain estimates of the components of your model using the decomposition method. Using your model…