In the backward elimination process, what happened in the first step? How many steps are in the process? Additional for it is when you perform F-test on the overall model, what will be the decision?
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- What is regression analysis? Describe the process of performing regression analysis on a graphing utility."Does the relationship between the independent variable and the dependent variable changeas a function of the sector in which an organization operates?" is a core question that we willask in this class. Which of the following variables is best suited to answer this question?a.Correlator variableb.Independent variablec.Moderator variabled.Dependent variableRequiredPage 92 The company uses the number of professional hours as the cost driver for office support costs. Use an algebraic equation to describe how total office support costs can be estimated. Use a spreadsheet program to perform a regression analysis. Use office support costs as the dependent variable (Y) and the professional hours as the independent variable (X). Determine the total fixed cost per office and variable cost per professional hour. Identify the R2 statistic provided by the Excel program and explain what it means. Mr. Dean plans to open a new branch office in a Dallas suburb. He expects that the monthly professional hours will be 3,000. Estimate the total office support cost for Mr. Dean. What portion of the total cost is fixed and what portion is variable? Explain how multiple regression analysis could be used to improve the accuracy of the cost estimates. *You will use excel to setup a worksheet with your data and run regression analysis.*
- You are interested in studying the relationship between dietary fat intake and pubertal onset. a. Define Cofounder b. Identify at least 3 potential variables that may confound the primary relationship of interest.Linear regression is a highly effective data analysis method that accurately estimates the value of unknown data using related and known data. This is achieved using a linear equation that accurately models the quantitative relationship between the dependent (unknown) and independent (known) variables. In other words, by looking at how one variable affects another, this method can accurately forecast the value of the dependent variable. It involves choosing the variable to forecast and using another variable to make informed predictions about its value. In experiments, the independent variable is the cause, and its value remains constant while other variables have been modified. On the other hand, the dependent variable is the effect, and changes influence its value in the independent variable. As I began my business, I struggled with determining the appropriate pricing for my products. It was important that the prices were reasonable while allowing for a profit. The pricing had to…Demand can be estimated with experimental data, time-series data, or cross-section data. In this case, cross-section data appear in the Excel file. Soft drink consumption in cans per capita per year is related to six-pack price, income per capita, and mean temperature across the 48 contiguous states in the United States. Questions Given the data, please construct a multiple linear regression program by MS Excel. Interpret each coefficient of independent variable in the soft drink demand estimated function in question 1. Given your answer in question 1, please comment on whether the regression estimated function is a good fit or not. What is the interpretation of coefficient of determination (R-square) ? May we use the estimated function to predict for the future demand ? Explain why. Howmanycans/capita/yearonsoftdrinkshouldbeforastateinwhich6-packprice=$1.95,Income/Capita=$23,500, and Mean Temp= 68 F ? Now omit the price and temperature from the regression equation.…
- how to do the prediction interval in simple linear regressionThe data in the Table below are a sample of 25 patients discharged from Regional Referral Hospital as part of a retrospective chart review of antibiotic usage in hospitals Notes: ID no = patient number, temp = temperature, med = medical and surg = surgery Describe any five variables using both numeric and graphic (use graph paper) methods for each of the variable. For each of the selected variable, use statistics and one graph.Linear Regression models can be optimised to avoid high variance by means of regularisations such as Lasso and Ridge. Explain when and why they are applied and the difference between both.
- If we run a regression where y (bankruptcy) = f (factors potentially predicting bankruptcy), what is the dependent variable? Bankruptcy Factors potentially predicting bankruptcy Cannot be determined There are no dependent variablesCorrelational designs have one independent variable and one dependent variable true or false?Explain briefly, two basic assumptions of the multiple linear regression model. State the main functions of each of correlation and regression.