A marketing professor at Givens College is interested in the relationship between hours spent studying and total points earned in a course. Data collected on 156 students who took the course last semester are provided in the file MktHrsPts.
a. Develop a scatter chart for these data. What does the scatter chart indicate about the relationship between total points earned and hours spent studying?
b. Develop an estimated regression equation showing how total points earned is related to hours spent studying. What is the estimated regression model?
c. Test whether each of the regression parameters β0 and β1 is equal to zero at a 0.01 level of significance. What are the correct interpretations of the estimated regression parameters? Are these interpretations reasonable?
d. How much of the variation in the sample values of total point earned does the model you estimated in part b explain?
e. Mark Sweeney spent 95 hours studying. Use the regression model you estimated in part b to predict the total points Mark earned.