Do you think there might be a correlation between the two variables (before you analyze the data)? Why or why not.
Is there a Correlation?
Main Post: Consider the dataset that you analyzed in Unit 1. If your dataset did not have two quantitative variables or if you would prefer using a different dataset, visit the dataset link to select a new data set of interest to you. See Example and DB starter video in Unit 8 LiveBinder.
Determine the following information on your selected data set. Be sure to answer all questions using complete sentences.
State the dataset and the two quantitative variables of interest. Do you think there might be a correlation between the two variables (before you analyze the data)? Why or why not.
Create a scatterplot with a simple linear regression. Attach the scatterplot to your post.
Run the regression analysis in Excel Data Analysis. Share the output.
What is the coefficient of determination r2? Summarize the results by stating whether this is a strong or weak relationship. State whether it is a positive or negative relationship. Is this result what you expected?
Use the regression analysis output to determine the linear regression (best fit prediction line) equation.
Peer Reply #1: Choose a classmate’s post and review the linear regression (prediction line) equation. Select a value for the independent variable X and calculate the predicted Y. Be sure to show your work. Does the predicted value seem reasonable? See Example.
Peer Reply #2: Choose another classmate’s post. Further the math conversation by commenting on the correlation between the two variables and why you believe the regression equation is a good or poor model for prediction. See Example.
The assignment is discussion board #8 it can be found in Business statistics and Quantitative Analysis.