Question Details

Complete the problems below from the textbook. You will need to use the "Baseball 2016 Data," "Lincolnville School District Bus Data," and the "Century National Bank Data" files for this assignment.Chapter 13 – Problem 6363. Refer to the Baseball 2016 data, which reports information on the 2016 MajorLeague Baseball season. Let attendance be the dependent variable and total team salarybe the independent variable. Determine the regression equation and answer thefollowing questions.a. Draw a scatter diagram. From the diagram, does there seem to be a direct relationshipbetween the two variables?b. What is the expected attendance for a team with a salary of $100.0 million?c. If the owners pay an additional $30 million, how many more people could they expectto attend?d. At the .05 significance level, can we conclude that the slope of the regression line ispositive? Conduct the appropriate test of hypothesis.e. What percentage of the variation in attendance is accounted for by salary?f. Determine the correlation between attendance and team batting average and betweenattendance and team ERA. Which is stronger? Conduct an appropriate test ofhypothesis for each set of variables.Chapter 13 – Problem 6464. Refer to the Lincolnville School bus data. Develop a regression equation that expressesthe relationship betweenageof the bus and maintenance cost. The age of thebus is the independent variable.a. Draw a scatter diagram. What does this diagram suggest as to the relationship betweenthe two variables? Is it direct or indirect? Does it appear to be strong or weak?b. Develop a regression equation. How much does an additional year add to the maintenancecost.What is the estimated maintenance cost for a 10-year-old bus?c. Conduct a test of hypothesis to determine whether the slope of the regression line isgreater than zero. Use the .05 significance level. Interpret your findings from parts (a),(b), and (c) in a brief reportChapter 14 – Problem 35Refer to the Lincolnville School District bus data. First, add a variable to change the typeof engine (diesel or gasoline) to a qualitative variable. If the engine type is diesel, thenset the qualitative variable to 0. If the engine type is gasoline, then set the qualitativevariable to 1. Develop a regression equation using statistical software with maintenancecost as the dependent variable and age, odometer miles, miles since last maintenance,and engine type as the independent variables.a. Develop a correlation matrix. Which independent variables have strong or weak correlationswith the dependent variable? Do you see any problems with multicollinearity?b. Use a statistical software package to determine the multiple regression equation.How did you select the variables to include in the equation? How did you use theinformationfrom the correlation analysis? Show that your regression equation showsa significant relationship. Write out the regression equation and interpret its practicalapplication. Report and interpret the R-square.c. Develop a histogram or a stem-and-leaf display of the residuals from the final regressionequation developed in part (f). Is it reasonable to conclude that the normalityassumption has been met?d. Plot the residuals against the fitted values from the final regression equation developedin part (f) against the fitted values of Y. Plot the residuals on the vertical axis andthe fitted values on the horizontal axis.Chapter 14 Case A – Century National BankA. The Century National BankRefer to the Century National Bank data. Using checkingaccount balance as the dependent variable and using asindependent variables the number of ATM transactions,the number of other services used, whether the individualhas a debit card, and whether interest is paid on the particularaccount, write a report indicating which of the variablesseem related to the account balance and how wellthey explain the variation in account balances. Should allof the independent variables proposed be used in theanalysis or can some be dropped?For problems requiring computations, please ensure that your Excel file includes the associated cell computations and/or statistics output. This information is needed in order to receive full credit on these problems.Submit output in one Excel file.