Mgmt 533 - 1840 Words

MATH 533(Applied Managerial Statistics) Project AJ Davis Department Stores; Part C: Regression and Correlation Analysis Using MINITAB perform the regression and correlation analysis for the data on CREDIT BALANCE (Y) and SIZE (X) by answering the following. 1. Generate a scatterplot for CREDIT BALANCE vs. SIZE, including the graph of the best fit line. Interpret. Scatterplot of Credit Balance($) vs Size 6000 5000 Credit Balance($) 4000 3000 2000 1 2 3 4 Size 5 6 7 The scatter plot of Credit balance ($) versus Size show that the slope of the „best fit‟ line is upward (positive);this indicates that Credit balance varies directly with Size. As Size increases, Credit Balance also increases vice versa. Correct†¦show more content†¦Correct MINITAB OUTPUT: Predicted Values for New Observations New ObsFit 1 4607.5 SE Fit 95% CI 119.0 (4368.2, 4846.9) 95% PI (3337.9, 5877.2) Values of Predictors for New Observations New Obs 1 Size 5.00 9. Using an interval, predict the credit balance for a customer that has a household size of 5. Interpret this interval. The credit balance for a customer that has household size of 5 is expected to lie within the interval of (3337.9, 5877.2). This is the 95% prediction interval estimate for the credit balance for a customer that has household size of 5. Correct MINITAB OUTPUT: Predicted Values for New Observations New ObsFit 1 4607.5 SE Fit 95% CI 119.0 (4368.2, 4846.9) 95% PI (3337.9, 5877.2) Values of Predictors for New Observations New Obs 1 Size 5.00 10. What can we say about the credit balance for a customer that has a household size of 10? Explain your answer. We cannot say anything about the credit balance for a customer that has a household size of 10 because since the maximum value of the predictor variable (size) used to formulate the given regression model is only 7, which is much less than 10; therefore, we cannot use the given regression model to accurately estimate the credit balance for a customer that has a household size of 10. Correct In an attempt to improve the model, we attempt to do a multiple regression model predicting CREDIT BALANCE based on INCOME, SIZE and YEARS. 11. Using MINITAB run theShow MoreRelatedMgmt 533 Final Paper1522 Words   |  7 PagesObese Woman Denied Boarding Saifullah Khan Embry Riddle Aeronautical University, Worldwide Campus Abstract 56 year old lady weighing 407 pounds was denied boarding by three airlines. Lufthansa and KLM who were not able to provide a seatbelt for her size, and Delta who did not had a wheelchair capable of handling her weight, to carry her to the aircraft. 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