Question: Check the Excel output for the models created in Exercises
Check the Excel output for the models created in Exercises 6, 7, and 8 above for outliers. If you had access to the original records for this data set, what would you do?
Answer to relevant QuestionsApply the formula for the adjusted R2 to verify the value shown in Exhibit 14.17. Note that the SSE and SST are shown in the Excel Regression output. Use Excel to create a 95% confidence interval of average Woodbon sales, when mortgage rates are 6%, housing starts are 3,500, and advertising expenditure is $3,500. Interpret the interval. Adjust the total income data for Example 14.5B, and analyze the new regression model that includes both per capita income and population. Is the model significant? Are both explanatory variables significant? Continue your ...Create a scatter diagram showing the relationship between age and years of experience. Does it seem sensible to include both of these explanatory variables in the model? Check that the best model you selected in Exercise 9 meets the required conditions. In exercise Use Excel to create all possible Marks models, and then consider those that have two explanatory variables. Note that there are ...
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