11.68 Project: Project: This project can be done in groups or as individuals. Each group or person must find a set of data, preferably but not restricted to their field of study. The data needs to fit the regression framework with a regression variable, x, and a response variable, y. Carefully make the assignment as to which variable is x and which, y. It may be necessary to consult a journal or periodical from your field if you do not have other research data available.

(a) Plot a scatter diagram for the collected data and comment on the relationship between y and x.

(b) Obtain a simple linear regression fit by the least squares method.Plot the regression line on a graph with the data.

(c) Test the compatibility of the linear fit (H0: β1=0).

(d) Measure the quality of fit using the coefficient of determination.

R-Square 0.967472 Coeff Var 7.923338 Root MSE 70.83841 Price Mean 894.0476 Parameter Estimate Standard Error t Value Pr > It Intercept 59.93749137 38.34195754 1.04731316 1.56 23.77 0.1345