Week 7: Lab Overview
Lab 7 of 7: Lab 7
Lab Overview
Scenario/Summary
Be sure to complete the lab assignment by the due date.
Deliverables
After completing the steps below, prepare an Excel document and a Word document and submit them.
| Category | Points | Percentage% |
| Steps 1 & 2: Lab prep with reading, PowerPoints, Lesson and Lab videos is completed. | 5 | 12.5% |
| Steps 3 & 4: Interpretation and analysis from the video for the results of the histogram. Specifically address the nature of the distribution that would best represent the data. | 5 | 12.5% |
| Step 5: Write an interpretation (again, no more than a page) of the scatter plots. Consider first the scatter plot describing the relation between the independent variables and the dependent variable. | 10 | 25% |
| Step 6: Next, comment on whether any relation exists between pairs of variables. | 5 | 12.5% |
| Step 7: Now, consider the multiple regression equation. Write roughly a page indicating what the equation tells us. | 10 | 25% |
| Step 8: Consider next the statistics describing the regression. Write approximately a half page about the following. * R-square * Adjusted R-squared * Standard error of the estimate * Prediction of future months and confidence in the prediction (this may exceed a half page). NOTE: Ignore the dummy variable analysis in the video. | 5 | 12.5% |
| Total | 40 | 100% |
Lab Resources
You can access the software via the Virtual Lab—Citrix button on the Course Resources page.
This course requires the use of Microsoft Excel, Microsoft Word, the Excel Add-Ins, and the @RISK (Palisade V7.5) software.
Lab Steps
Step 1: Lab Preparation
Download and review the following.
Week_7_Lab_Example-selected.zip (Links to an external site.)Links to an external site.
Week_7_Lab_Materials-selected.zip (Links to an external site.)Links to an external site.
Step 2
Please watch the video on Introduction to Regression Analysis.
Step 3
Please watch the video on Example 14.3.
Step 4
Write an interpretation (no more than one page) of the histograms. Specifically, address the nature of the distribution that would best represent the data.
Step 5
Write an interpretation (again, no more than a page) of the scatter plots. Consider first the scatter plot describing the relation between the independent variables and the dependent variable.
Step 6
Next, comment on whether any relation exists between pairs of variables.
Step 7
Now, consider the multiple regression equation. Write roughly a page indicating what the equation tells us.
Step 8
Consider next the statistics describing the regression. Write approximately a half page about the following.
- R-square
- Adjusted R-squared
- Standard error of the estimate
- Prediction of future months and confidence in the prediction (this may exceed a half page).
Ignore the dummy variable analysis in the video.
