Regression analysis is generally performed using quantitative data for both dependent and independent variables. It can also extend to cases where one of the variables $($or both$)$ is $($are$)$ qualitative. Due to its flexibility, it has been widely used in many different applications.

In this assignment, you will use R and RStudio to create an R script $(*.$R$)$ file to explore three $(3)$ visual and statistical measures of the association between the Gross Domestic Product $($GDP$)($independent variable$)$ and the currency exchange rate $($USEUR$)($dependent variable$)$ variables of the GDP data set. You will also provide a one$-$page summary of what you did, an interpretation of the results you obtained, and a reflection on your learning experience.

To prepare for this assignment:

Review the module$$s interactive lecture and its references.

Download the Gross Domestic Product $($GDP$)$Excel file data set MIS$470$GDP$.$xls

Download MIS$470$GDP$.$xls$.$

View videos in the LinkedIn Learning Course: Data Science Foundations: Data Mining in R

Links to an external site. under Association Analysis to learn more about visualizing and analyzing data using association.

To complete this assignment:

Create an R Script $(*.$R$)$ file to explore three $(3)$ visual and statistical measures of the association between the Gross Domestic Product $($GDP$)($independent variable$)$ and the currency exchange rate $($USEUR$)($dependent variable$)$ variables of the GDP data set according to the steps below. Give the script file a name that includes your first name and last name like this Solution$-$W$3-$FirstName$-$LastName.R:

Read in the MIS$470$GDP$.$xls file into an R data frame.

Create a scatter plot for GDP vs$.$ USEUR.

Fit a linear regression model.

Predict the USEUR for a GDP of $22007\mathrm{.}372$

Execute your $*.$R script file and display the results of its execution in the RStudio console and$/$or the Plots tabs$.$

Take screenshots, showing current date and time, to demonstrate successful completion of your work. The screenshot should show the R commands you applied and the results you obtained. Do not capture trial and error results. Only your final results should be captured.

Summarize your work in one page in which you explain what you did, interpret your results, and reflect on your experience:

Explain how you completed this assignment and how you resolved the issues you faced, if any.

Interpret the results you obtained from your actions including comments on the relationship between GDP and USEUR from the scatter plot and an examination of the goodness of fit of your linear regression model.

Reflect on your experience with this assignment and the lessons you learned.

To submit your response to this assignment:

Prepare all the required screenshots.

Prepare your summary of your work $($what you did, interpretation of results, and reflection$).$