Instructions : Choose on or more of the data sets A – J below, or as assigned by your instructor. The first column is the x, or independent, variable and the second column is the y, or dependent, variable. Use a spreadsheet or a statistical package (e.g., MegaStat or MINITAB) to obtain the simple regression and required graphs. Write our answers to exercises 12.40 through 12.55 (or those assigned by our instructor) in a concise report, labeling your answers to each question. Insert tables and graphs in your report as appropriate. You may work with a partner if your instructor allows it.
12.40 Are the variables cross-sectional data or time-series data?
12.41 How do you imagine the data were collected?
12.42 Is the sample size sufficient to yield a good estimate? If not, do you think more data could easily be obtained, given the nature of the problem?
12.43 State you’re a priori hypothesis about the sign of the slope. Is it reasonable to suppose a cause and effect relationship?
12.44 Male a scatter plot of y against x. Discuss what it tells you.
12.45 Use Excel’s Add Trendline feature to fit a linear regression to the scatter plot. Is a linear model credible?
12.46 Interpret the slope. Does the intercept have meaning, given the range of the data?
12.47 Use Excel, Mega Stat, or MINITAN to fit the regression model, including residuals and standardized residuals.
12.48 (a) Does the 95 percent confidence interval for the slope include zero? If so, what does this tell you?
If not, what does it mean?
(b) Do a two-tailed t – test for zero slope at α = 0.05 State the hypotheses, degrees of freedom,
And critical value for your test.
(c) Interpret the p-value for the slope.
(d) Did the sample support your hypothesis about the sign of the slope?
12.49 (a) Based on the R2 and ANOVA table for your model, how would you assess the fit?
(b) Interpret the p-value for the F statistic.
(c) Would you say that your model’s fit is good enough to be of practical value?
12.50 Study the table of residuals. Identify as outliers any standardized residuals that exceed 3 and as unusual any that exceed 2. Can you suggest any reasons for these unusual residuals?
12.51 (a) Make a histogram (or normal probability plot) of the residuals and discuss its appearance.
(b) Do you see evidence that your regression may violate the assumption of normal errors?
12.52 Inspect the residual plot to check for heteroscedasticity and report your conclusions.
12.53 Is an autocorrelation test appropriate for your data? If so, perform an eyeball inspection of residual plot against observation order or a runs test.
12.54 Use MegaStat or MINITAB to generate 95 percent confidence and prediction intervals for various x – values.
12.55 Use MegaStat or MINITAB to identify observations with high leverage.