Question: Answer the following questions for each data set: 1) Are the variables cross section or time series data? 2) How do you imagine that the

Answer the following questions for each data set:

1) Are the variables cross section or time series data?

2) How do you imagine that the data were collected?

3) Is the sample size sufficient to yield a good estimate? How do you know?

4) State you hypothesis about the sign of the slope.

5) Make a scatter plot of Y against X.Discuss what this tells you.

6) Add a Trendline to your scatter plot.Is a linear model credible?

7) Interpret the slope coefficient.Does the intercept have meaning given the range of the data?

8) Use Megastat to fit the regression model, including residuals and standardized residuals

9) Interpret the P-value for the slope coefficient

10) Interpret the R^2 value

11) Study the table of residuals.Identify outliers, and unusual observations (standardized obs. that exceed 3, and 2 std. deviations respectively).

12) Output a normal probability plot. Do you see evidence that your regression violates the assumption of normality?

13)Inspect the residual plot to check for heteroscedasticity.Report your conclusions.

14) Identify any observations with high leverage.

City income Home

Alexandria, VA 59.976 290.000

Bernards Twp., NJ 112.435 279.900

Brentwood, TN 107.866 338.250

Bridgewater, NJ 93.484 316.000

Cary, NC 77.091 207.000

Centreville, VA 77.243 250.000

Chantilly, VA 94.864 320.000

Chesapeake, VA 53.758 150.000

Collierville, TN 85.716 230.000

Columbia, MD 77.033 199.000

Coral Springs, FL 62.632 218.500

Dranesville, VA 109.502 290.000

Dunwoody, GA 86.971 315.000

Ellicott City, MD 83.583 248.000

Franconia, VA 84.537 290.000

Gaithersburg, MD 64.944 220.000

Hoover, AL 64.431 170.450

Hunter Mill, VA 93.987 290.000

Lower Makefield Twp., PA 102.997 205.000

Manalapan Twp., NJ 91.245 410.000

Marlboro Twp., NJ 108.759 379.975

Matoaca, VA 65.149 135.000

Newtown, CT 97.723 358.500

North Andover, MA 79.169 342.500

Oakton, VA 90.824 341.000

Olney, MD 100.716 287.450

Peachtree City, GA 79.805 214.500

Ramapo, NY 64.954 330.875

Randolph Twp., NJ 104.121 444.500

Reston, VA 85.264 240.000

Roswell, GA 76.530 226.450

Sugarland Run, VA 103.350 278.250

Sully, VA 92.942 290.000

Wellington, FL 76.076 230.000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

HELP WITH DATA ANALYSIS QUESTIONS ANSWER THE FOLLOWING QUESTIONS FOR THE DATA SET 1) Are the variables cross section or time series data? 2) How do you imagine that the data were collected? 3) Is the...

Assessed Value of Small Commercial Real Estate Buildings (n = 32, k = 5) Assessed Floor Offices Entrances Age 1796 4790 4 2 8 1544 4720 3 2 12 2094 5940 4 2 2 1968 5720 4 2 34 1567 3660 3 2 38 1878...

1) Are the variables cross section or time series data? 2) How do you imagine that the data were collected? 3) Is the sample size sufficient to yield a good estimate? Does it fulfill Doane's Rule or...

1. As the Manager of Customer service at a Bank, you were assigned the job of revamping the Customer Service function at the branches. To get the project started, a research study at four branches...

Time Series and Analysis with R studio 1. Use R to load in the data from cbe.dat. Answer the following questions using that data set. Plot the electricity data. From the plot, does the data appear to...

1. As the Manager of Customer service at a Bank, you were assigned the job of revamping the Customer Service function at the branches. To get the project started, a research study at four branches...

As the Manager of Customer service at a Bank, you were assigned the job of revamping the Customer Service function at the branches. To get the project started, a research study at four branches was...

The attached Excel contains the data collected from the research study. https://courses.yorkvilleu.ca/iSpring/BBA/BUSI_1013/Alignment_2021/Assignments/BUSI1013%20Bank%20Dataset Answer the following...

Lens 1 is a negative meniscus with R 11 = 5 cm, R 12 = 3 cm. Lens 2 is a positive meniscus with R 21 = 2.8 cm, R 22 = 6 cm. The thickness is d = 0.6 cm. and the refractive index is 1.5 (both lenses),...

Read the script of testimony given by Mary Schapiro to the U.S. Senate Committee on Banking that addresses the need for clear disclosure in financial statements: a. According to Schapiro, what part...

Mini-Case A: Six months ago, Arya, a 24-year-old graduate, moved to Vancouver from Montreal to be closer to her long-time boyfriend, Max. Max lived with his parents, while Arya rented a one-bedroom...

As a loan officer for Third Commercial Bank your job description includes evaluating and recommencing approval of commercial and real estate loans. On your desk is a loan application from Avantgarde...