Business Statistics Project Discussion

Business Statistics Project Discussion
Project Part 2 – Regression Analysis 80 pts. 1.List independent and dependent data, labeling each with name and
variable, cite source.
Explain reasons why variation in dependent variable may be explained by variation in independent variables. Answer for each independent variable.
COMPLETE THIS EXPLANATION BEFORE REGRESSION ANALYSIS STARTS. 10 pts.
2.Run Descriptive Statistics for Dependent Variable (Y) and both Independent variables (X1, X2), all three AT SAME TIME, with labels.
Consider presentation. 5 pts.
3.Run Simple Regression for each independent variable separately: X1 Y and then X2 Y.
Consider presentation.
Write regression equation and coefficient of determination for each.
Explain equation for each. 10 pts.
4.Run Multiple Regression Analysis: X1 X2 Y Consider presentation.
Write regression equation and coefficient of determination.
Explain equation. 10 pts.
5. Share Steps 1-4 with one team member no later than Wednesday, May 26.
Send your review to team member no later than Saturday, May 29. Give positive, negatives, suggestions, etc.
Submit your review and Teamwork worksheet to instructor by Saturday, May 29. 10 pts.
6.Select best model from the 3 possibilities, considering F significance, pvalues, and coefficient of determination. (from Steps 3 and 4).
Select 2 sets of numbers and predict the values of Y. (Remember the range.) 10 pts.
7.Restate descriptive statistics for best model. Calculate -1, -2, and -3 standard deviations from the mean for independent variables for best model.
Identify outliers. 10 ps.
8.Discuss results comparing to explanation you wrote for requirement 1.
Discuss the selection of the best model in requirement 6: F,pvalue, r2
Discuss positive aspects and/or drawbacks of the model. Evaluate the variables.
Would the final model be a reliable predictor? Why or why not? 10 pts.
9.Project must be submitted as pdf file. There is only one submission. Step 1 and 8 will be submitted in Word, pdf.
Steps 2, 3, 4, 6, 7 will be submitted in Excel, pdf.
Report must be complete, clearly presented, ready to be printed and
prepared for in-person presentation. 5 pts.
Due: Saturday, June 7
Teamwork Part 2 Project Name________________________________ Share Steps 1 – 4 of your Project with one team member no later than Wednesday, May 26.
Name of team member to whom you sent your report. _______________
Review your team member’s Step 1 – 4. Submit your review to your team member AND instructor no later than Saturday, May 29.
Name of team member whose report you are reviewing. ______________
Independent variables for team member’s report:
X1 =
X2 =
Dependent variable for team members report:
Y =
The variation in ___________________ is explained by the variation in _________________ and _____________________.
Give positives, negatives, suggestions, for the presentation.
Discuss the selection of variables.

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