Question: i need help with homework. i got to question 3 and got stuck. i know the formulas needed. but idk how to make the stattergram,

i need help with homework. i got to question 3
i need help with homework. i got to question 3
i need help with homework. i got to question 3
i need help with homework. i got to question 3
i need help with homework. i got to question 3
i need help with homework. i got to question 3 and got stuck. i know the formulas needed. but idk how to make the stattergram, or explain why the data is what it is. please help!?
Real Estate World is trying to improve their selection process for hiring real estate agents. A successful real estate agent, according to the company, is one that can sell a minimum of 50 houses per year. The company believes that the key to successful real estate is perseverance. To test this hypothesis the company hires you as an 1/0 psychologist to develop an assessment instrument to improve hiring success. You develop and administer The Perseverance Assessment (TPA) to all 75 applicants with the proper real estate license. Based on your recommendation, the company hires all of the applicants that scored higher than 3 on the TPA and gives all of them 1 year to see how they do. A colleague questions whether the predictor truly seeks to directly measure the underlying psychological construct in question (e.g., perseverance), or whether it seeks to measure a sample of the same behavior to be exhibited on the job. So, the colleague believes that a better predictor would be to use the Dale Carnegie How to Win Friends and Influence People test (HWFIP). Given below are applicant scores on the TPA as well as the HWFIP and how many houses each sold in the year. Answer the questions that follow. Subject # TPA Score Houses Sold HWFIP Score 7 51 3 8 . 3 1 2 5 7 6 10 2 9 55 - 5 8 1 2 5 - 60 8 63 14 155 1. (5 points) What scale of measurement is the sales data (shown above) on? If you wanted to measure sales on a nominal scale of measurement, how would you do that? If you wanted to measure sales on an ordinal scale of measurement, how would you do that? 3. (5 points) Construct a scattergram for each predictor and the criterion given above. Houses sold Test Scores HV HWFIP Houses Sold Test scores 4. (5 points) Calculate the correlation coefficient between TPA score and homes sold. Calculate the correlation coefficient between the HWFIP score and the number of homes sold. How would you describe the linear relationship between these two predictor variables and the criterion? Do your scattergrams "correlate" well with your calculations? 5. (5 points) Suppose that you're considering running a linear regression with the two predictor variables and Y. At this point, can you say which of the predictor variables is the better candidate for a linear regression analysis? Why or why not? 6. (15 points) If you have decided that the data supports one of the predictor variables being used for regression, calculate the regression formula for the predictor chosen. 7. (5 points each) For the chosen predictor, find the following quantities. Show your work: a. Calculate the Coefficient of Determination and explain what inferences can be made with the result. b. Calculate the Coefficient of Alienation and explain what inferences can be made with the result. c. Forecast the amount of prediction error when predicting home sales from the predictor score. 8. (5 points) Based on your calculated regression formula, forecast the number of homes that a real estate agent will sell based on a score of 3 on the predictor test you chose

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 General Management Questions!