2189 Words9 Pages

Using MINITAB perform the regression and correlation analysis for the data on CREDIT BALANCE (Y) and SIZE (X) by answering the following.
Generate a scatterplot for CREDIT BALANCE vs. SIZE, including the graph of the "best fit" line. Interpret.
The scatter plot of Credit balance ($) versus Size show that the slope of the 'best fit' line is upward (positive); this indicates that Credit balance varies directly with Size. As Size increases, Credit Balance also increases vice versa.
MINITAB OUTPUT:
Regression Analysis: Credit Balance($) versus Size
The regression equation is
Credit Balance($) = 2591 + 403 Size
Predictor Coef SE Coef T P
Constant 2591.4 195.1 13.29 0.000
Size 403.22 50.95 7.91 0.000
S = 620.162 R-Sq = 56.6% R-Sq(adj) = 55.7%
Analysis of Variance
Source DF SS MS F P
Regression 1 24092210 24092210 62.64 0.000
Residual Error 48 18460853 384601
Total 49 42553062
Predicted Values for New Observations
New Obs Fit SE Fit 95% CI 95% PI 1 4607.5 119.0 (4368.2, 4846.9) (3337.9, 5877.2)
Values of Predictors for New Observations
New Obs Size 1 5.00
Determine the equation of the "best fit" line, which describes the relationship between CREDIT BALANCE and SIZE.
The equation of the "best fit" line help describes the relationship between Credit Balance and Size is Credit Balance ($) = 2591 + 403.2 Size
Determine the coefficient of correlation. Interpret.
The coefficient of correlation is given as r = 0.752. The

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