Interpret the following three sets of data using scatter chart and regression analysis, using slope , intercept, Coefficient of Determiniation (R2) , regression data (using excel), and 95% confidence interval, P value, do I reject null hypothesis ? Or is it significant ?Generate and explain the derivation of insights using regression analysis and its associated visualization.Differentiate between the signals identified by business analytics and the noise that is inherent in the system.X: C18 (total employees hours worked per week) versus Y: C19 (clinic patients seen per week)C1882235405773788798C196.169.8814.3524.0630.3432.1742.1843.2348.76check_circleExpert Answerthumb_up thumb_downStep 1Let us denote X as the total employees hours worked per week and Y as the clinic patients seen per week. Excel Procedure: Enter X and Y data in ExcelGo to DataClick on Data Analysis……..> ‘Regression’.Select Y under ‘Input Y Range’.Select X under ‘Input X Range’.Click on ‘OK’. Output: Step 2From the output, slope:0.4891, represents there is 0.4891 units increase in Y as 1 unit increase in X.Intercept: 0.8387, represent constant increase in Y.Coefficient of determination(R2): 0.9666 or 96.66%, represents 96.66% of the variation in Y is explained by the variable X.95% confidence interval: (0.4078, 0.5704), represents there is 95% chance that the coefficient of X variable is lies between 0.4078 and 0.5704.Step 3Scatter plot:Steps to construct scatter plot in Excel:Enter the data for x and y in Excel sheetSelect the columns of x and y.Go to Insert menu.Click on “Insert scatter or bubble chart” option.Select Scatter under Charts.Excel Output:

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Answered: Interpret the following three sets of…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.6: Regression And Median-fit Lines

Problem 4GP

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Expert Answer

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Step 1

Let us denote X as the total employees hours worked per week and Y as the clinic patients seen per week.

Excel Procedure:

Enter X and Y data in Excel
Go to Data
Click on Data Analysis……..> ‘Regression’.
Select Y under ‘Input Y Range’.
Select X under ‘Input X Range’.
Click on ‘OK’.

Output:

Step 2

From the output,

slope:0.4891, represents there is 0.4891 units increase in Y as 1 unit increase in X.
Intercept: 0.8387, represent constant increase in Y.
Coefficient of determination(R²): 0.9666 or 96.66%, represents 96.66% of the variation in Y is explained by the variable X.
95% confidence interval: (0.4078, 0.5704), represents there is 95% chance that the coefficient of X variable is lies between 0.4078 and 0.5704.

Step 3

Scatter plot:

Steps to construct scatter plot in Excel:

Enter the data for x and y in Excel sheet
Select the columns of x and y.
Go to Insert menu.
Click on “Insert scatter or bubble chart” option.
Select Scatter under Charts.

Excel Output:

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C19
6.16
9.88
14.35
24.06
30.34
32.17
42.18
43.23
48.76