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Chirag
Chirag, Master's Degree
Category: Calculus and Above
Satisfied Customers: 12183
Experience:  I have a Master's degree in Engineering and a very wide teaching experience of more than 25 years at various levels.
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Here is part C for tomorrow.Project Part C: Regression

Resolved Question:

Here is part C for tomorrow.

Project Part C: Regression and Correlation Analysis
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Using MINITAB perform the regression and correlation analysis for the data on CREDIT BALANCE (Y) and SIZE (X) by answering the following.

Generate a scatterplot for CREDIT BALANCE vs. SIZE, including the graph of the "best fit" line. Interpret.
Determine the equation of the "best fit" line, which describes the relationship between CREDIT BALANCE and SIZE.
Determine the coefficient of correlation. Interpret.
Determine the coefficient of determination. Interpret.
Test the utility of this regression model (use a two tail test with α =.05). Interpret your results, including the p-value.
Based on your findings in 1-5, what is your opinion about using SIZE to predict CREDIT BALANCE? Explain.
Compute the 95% confidence interval for beta-1 (the population slope). Interpret this interval.
Using an interval, estimate the average credit balance for customers that have household size of 5. Interpret this interval.
Using an interval, predict the credit balance for a customer that has a household size of 5. Interpret this interval.
What can we say about the credit balance for a customer that has a household size of 10? Explain your answer.

In an attempt to improve the model, we attempt to do a multiple regression model predicting CREDIT BALANCE based on INCOME, SIZE and YEARS.

Using MINITAB run the multiple regression analysis using the variables INCOME, SIZE and YEARS to predict CREDIT BALANCE. State the equation for this multiple regression model.
Perform the Global Test for Utility (F-Test). Explain your conclusion.
Perform the t-test on each independent variable. Explain your conclusions and clearly state how you should proceed. In particular, which independent variables should we keep and which should be discarded.
Is this multiple regression model better than the linear model that we generated in parts 1-10? Explain.
All DeVry University policies are in effect, including the plagiarism policy.
Project Part C report is due by the end of Week 7.
Project Part C is worth 100 total points. See grading rubric below.

Summarize your results from 1-14 in a report that is three pages or less in length and explains and interprets the results in ways that are understandable to someone who does not know statistics.

Submission: The summary report + all of the work done in 1-14 (Minitab Output + interpretations) as an appendix.

Format:

Summary Report
Points 1-14 addressed with appropriate output, graphs and interpretations. Be sure to number each point 1-14.





Project Part C: Grading Rubric
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Category Points % Description
Questions 1 - 12 and 14 - 5 pts. each 65 65 addressed with appropriate output, graphs and interpretations
Question 13 15 15 addressed with appropriate output, graphs and interpretations
Summary 20 20 writing, grammar, clarity, logic, and cohesiveness
Total 100 100 A quality paper will meet or exceed all of the above requirements.
Submitted: 8 months ago.
Category: Calculus and Above
Expert:  Chirag replied 8 months ago.
Hi, Welcome and Thanks for using Just Answer

I can do only the statistics parts but not the report. Let me know if that's ok for you.

Thanks.
Customer: replied 8 months ago.
That's ok with me!
Expert:  Chirag replied 8 months ago.
Ok, please let me know when is the deadline for this?

Thanks.
Customer: replied 8 months ago.
12pm
Expert:  Chirag replied 8 months ago.
Thats how many hours from now as per your time?
Customer: replied 8 months ago.
1hour
Expert:  Chirag replied 8 months ago.
No sorry, that's too short. Sorry I am unable to help you with this. I will open this to other experts.
Customer: replied 8 months ago.
How long can you get it done?
Expert:  Chirag replied 8 months ago.
I will need about 2 hours from now. I will do the regression using MINITAB, and provide the outputs. I will answer the given questions. Let me know.
Customer: replied 8 months ago.
Ok! That's fine
Expert:  Chirag replied 8 months ago.

Ok,I need the data file.

 

Please upload the file to a free file sharing site such as www.sendspace.com, share the file and post the link here.

 

Thanks.

 

Customer: replied 8 months ago.
AJ DAVIS is a department store chain, which has many credit customers and wants to find out more information about these customers. A
sample of 50 credit customers is selected with data collected on the following five variables: 1. LOCATION (Rural, Urban, Suburban) 2. INCOME (in $1,000's – be careful with this) 3. SIZE (Household Size, meaning number of people living in the household) 4. YEARS (the number of years that the customer has lived in the current location) 5. CREDIT BALANCE (the customers current credit card balance on the store's credit card, in $). The data appears below, and is available in Doc Sharing Course Project Data Set as an EXCEL file: LOCATION INCOME($1000) SIZE YEARS CREDIT BALANCE($) Urban 54 3 12 4016 Rural 30 2 12 3159 Suburban 32 4 17 5100 Suburban 50 5 14 4742 Rural 31 2 4 1864 Urban 55 2 9 4070 Rural 37 1 20 2731 Urban 40 2 7 3348 Suburban 66 4 10 4764 Urban 51 3 16 4110 Urban 25 3 11 4208 Urban 48 4 16 4219 Rural 27 1 19 2477 Rural 33 2 12 2514 Urban 65 3 12 4214 Suburban 63 4 13 4965 Urban 42 6 15 4412 Urban 21 2 18 2448 Rural 44 1 7 2995 Urban 37 5 5 4171 Suburban 62 6 13 5678 Urban 21 3 16 3623 Suburban 55 7 15 5301 Rural 42 2 19 3020 Urban 41 7 18 4828 Suburban 54 6 14 5573 Rural 30 1 14 2583 Rural 48 2 8 3866 Urban 34 5 5 3586 Suburban 67 4 13 5037 Rural 50 2 11 3605 Urban 67 5 1 5345 Urban 55 6 16 5370 Urban 52 2 11 3890 Urban 62 3 2 4705 Urban 64 2 6 4157 Suburban 22 3 18 3579 Urban 29 4 4 3890 Suburban 39 2 18 2972 Rural 35 1 11 3121 Urban 39 4 15 4183 Suburban 54 3 9 3730 Suburban 23 6 18 4127 Rural 27 2 1 2921 Urban 26 7 17 4603 Suburban 61 2 14 4273 Rural 30 2 14 3067 Rural 22 4 16 3074 Suburban 46 5 13 4820 Suburban 66 4 20 5149
Expert:  Chirag replied 8 months ago.
Please provide excel file.

Thanks.
Customer: replied 8 months ago.
Location Location Income ($1000) Size Years Credit Balance($)
Urban 1 27 1 2 2631
Rural 3 25 4 2 2047 Legend:
Suburban 2 25 1 1 3155 Location
Suburban 2 26 1 2 3913 Urban 1
Rural 3 30 5 5 2660 Suburban 2
Urban 1 29 1 3 3531 Rural 3
Rural 3 33 6 10 2766
Urban 1 30 1 4 3769
Suburban 2 32 2 4 4082
Urban 1 34 1 6 3806
Urban 1 35 1 8 4049
Urban 1 40 1 9 4073
Rural 3 30 6 9 2697
Rural 3 33 6 11 2914
Urban 1 42 2 10 4073
Suburban 2 32 2 4 4310
Urban 1 43 2 10 4199
Urban 1 43 2 10 4253
Rural 3 33 7 13 3104
Urban 1 47 2 10 4293
Suburban 2 35 3 5 4456
Urban 1 54 2 11 4340
Suburban 2 42 3 5 4925
Rural 3 36 7 13 3178
Urban 1 57 3 11 4391
Suburban 2 44 3 6 4947
Rural 3 38 7 15 3203
Rural 1 54 3 8 4354
Urban 1 54 3 10 4366
Suburban 2 46 4 6 5003
Rural 3 40 7 15 3250
Urban 1 60 4 11 4402
Urban 1 58 4 10 4397
Urban 1 61 5 13 4595
Urban 1 61 5 13 4786
Urban 1 62 6 14 4888
Suburban 2 49 5 8 5148
Urban 1 68 6 14 5011
Suburban 2 57 6 8 5220
Rural 3 45 8 16 3257
Urban 1 71 7 15 5528
Suburban 2 57 7 9 5283
Suburban 2 64 8 9 5332
Rural 3 45 8 17 3304
Urban 1 74 7 19 5553
Suburban 2 65 8 10 5484
Rural 3 47 8 18 3342
Rural 3 53 8 18 3788
Suburban 2 66 8 10 5756
Suburban 2 69 8 10 5861
Expert:  Chirag replied 8 months ago.
Ok, thanks.
Expert:  Chirag replied 8 months ago.
I will start the work now. Thanks.
Expert:  Chirag replied 8 months ago.
Hi

Here are the files (The first one is the answer file and the next two are the Minitab files)


http://www.sendspace.com/file/rk4uqo

http://www.sendspace.com/file/xpbkf2

http://www.sendspace.com/file/wlnq6j


I hope that helps. Let me know if you need any clarifications. Please Rate My Answer and Add a Tip if You Can.

Thanks.
Customer: replied 8 months ago.
I could not open the file
Customer: replied 8 months ago.
Please send as Word file
Expert:  Chirag replied 8 months ago.
Ok, I will send the word file within 5 minutes.

Thanks.
Expert:  Chirag replied 8 months ago.
Hi

Here is the word file ...

http://www.sendspace.com/file/5pzkaz


I hope that helps. Let me know if you need any clarifications. Please Rate My Answer and Add a Tip if You Can.

Thanks.
Customer: replied 8 months ago.
Still could not open it. Can you avoid sending it through sendspace.com?
Expert:  Chirag replied 8 months ago.
Please try this link ...

http://www.mediafire.com/?jvve6c61aiq0eds

Let me know if you could download it.

Thanks.
Chirag, Master's Degree
Satisfied Customers: 12183
Experience: I have a Master's degree in Engineering and a very wide teaching experience of more than 25 years at various levels.
Chirag and other Calculus and Above Specialists are ready to help you
Customer: replied 8 months ago.
It didn't open. Can you please copy and paste as a response. This is frustrating, I am already late in submission and points are already deducted.
Expert:  Chirag replied 8 months ago.
My computer tells me that the excel file has been successfully downloaded. I could also download all the files at my end. Please try again. The response can't be pasted on this page because the formatting will be lost and it will all look cluttered and useless.

Please try the links again and let me know.

Thanks.
Customer: replied 8 months ago.
Still couldn't download it. I don't have a computer system. I am using an ipad
Expert:  Chirag replied 8 months ago.
I don't know about ipad, but the links are working fine. Please try on a computer.

I have also sent all the four files to customer support and requested them to forward them to your email.

Please do try and get those files and rate my answer because I have spent a lot of time on this work.

Thanks.
Customer: replied 8 months ago.
Please put pressure on customer support to send the files to my email so I can give you an excellent rating
Customer: replied 8 months ago.
Got it! I appreciate your effort
Customer: replied 8 months ago.
Are there more than one experts available 24/7?

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