Consider the Marks data set, where the goal is to predict the final exam mark. Possible explanatory variables are the marks on Assignments 1 and 2, Tests 1 and 2, and Quiz marks. The tests and the final exam are written in a classroom, with all computations done manually with a calculator. The quizzes are done with online testing software, and the calculations can be done manually with a calculator or with Excel. Students can attempt the quizzes as many times as they wish before the due date (the quizzes are similar but not the same).The assignments are Excel-based and include a written report on the Excel analysis. Based on this information, which of the evaluations do you think would be the best predictor of the final exam mark, and why?
Answer to relevant QuestionsAn advertisement claims that prices for electronic organizers have decreased by 125%.What do you think of this claim? Think about the likely statistical knowledge of the intended reader of your statistical analysis in the follow ing situations, and describe how much technical detail you would plan to include in the body of the report. a. ...A restaurant owner decides to survey diners on Friday night, because he wants to collect a lot of data and Friday is always busy. Is this a statistical or a nonstatistical sample? Why? How much should the restaurant owner ...Why are business decisions made on the basis of only a limited amount of data? Can such decisions be reliable? Exhibit 14.34 below shows the correlation matrix for the Marks data set. Is there any concern about multicollinearity? Which explanatory variables seem the most promising?
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