I need to attach an Excel file with this question, how do I do that?

2. Regression Analysis: 43 points

2.1. Identify your Response and predictor variables (both quantitative variables)

• Votes (quantitative) Predictor Variable
• Revenue (quantitative) Response Variable

2.2. Make a scatterplot with regression line, describe it and explain in plain English, the form, direction and strength of the relationship of the two variables. Don't forget to mention any outliers.

The scatter plot shows that the movies with more votes on IMDB generated more revenue. There is a positive direction of high voted movies having higher revenues. The relationship between the two seems strong.

As votes increases, revenue increases.

2.3. Calculate correlation and interpret and explain in plain English. Don't forget to copy your correlation table over here too.

2.4. Calculate the Coefficient of Determination, R2, interpret and explain in plain English

2.5. Calculate your slope and intercept. Write out the Regression equation. Interpret and explain in plain English the slope (Hint calculate X = 1) and the intercept (Hint calculate X = 0).

2.6. Use the Regression equation (Y-hat) to predict (Hint select a value of X from your observed values and plug it in the Regression equation. Compare your Y and Y-hat, are they close or not. Explain), make sure it does not violate extrapolation. Answer the question - Do you think this model predict well, explain.

2.7. Calculate residual and create the residual plot. Interpret and explain in plain English the pattern in your residual plot. Does it violate homoscedasticity? Explain

2.8. In conclusion, will you say your X variable is a good predictor of your Y variable?

Hint: Explain more about the line that best fit the relationship, your conclusion must reflect some part of the interpretations of R2, explain what percentage of Y is not explained by X, give examples of other factors that could help explain Y. Interpret everything in plain English.

Hint: Use Hwk 3 solution as guide