In cell J3, find the covariance between Sample 1 and Sample 2 using the COVARIANCE.S function. Use a combination of native Excel functions, constructed formulas, and the XLMiner ToolPak to find covariance and correlation. Sample 2 Standard Deviation: (2 decimals) Sample 1 Standard Deviation: (2 decimals) Use your output to fill in the blanks below. Your descriptive statistics should now fill the shaded region of D1:G18. Finally make sure "Grouped By Columns" is selected and all other check-boxes are selected. Next, place your cursor in the Output Range box and then click cell D1 (or just type D1). Select "Descriptive Statistics" in the ToolPak, place your cursor in the "Input Range" box, and then select the cell range A1 to B16 in the sheet. The model in part (c) v is preferred because it provides a better fit. Do you prefer the estimated regression equation developed in part (b) or part (C)? Explain. (to 3 decimals) What is the value of the F test statistic? (to 2 decimals) What is the p-value? (to 4 decimals) d. What is the value of the coefficient of determination? Note: report Rʻ between 0 and 1. + log(Price) = (to 3 decimals) log(Rating) Use logarithms to develop an estimated regression equation for this model. Consider the nonlinear relationship shown by equation E(y) = Bo Bi. (to 3 decimals) What is the value of the F test statistic? (to 2 decimals) What is the p-value? (to 4 decimals) C. Price + Rating + Rating? (to whole numbers) What is the value of the coefficient of determination? Note: report R² between 0 and 1. Develop an estimated multiple regression equation with x = rarity rating and x2 as the two independent variables. Does a simple linear regression model appear to be appropriate? Choose the correct scatter diagram:Ī simple linear regression model does not appear v to be appropriate. Develop a scatter diagram of the data using the rarity rating as the independent variable and price as the dependent variable.
Construct a spreadsheet to answer the following questions.
The data showing the rarity rating (1- 20) and the high price ($1000s) for 15 classic cars is contained in the Excel Online file below. Screenshot of ToolPak Corvette, Ferrari, and Jaguar produced a variety of classic cars that continue to increase in value. Transcribed image text: Due to a recent change by Microsoft you will need to open the XLMiner Analysis ToolPak add-in manually from the home ribbon.
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