Study the following Excel regression output for an analysis attempting to predict the number of union members
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Study the following Excel regression output for an analysis attempting to predict the number of union members by the size of the labour force for selected years over a 30-year period. Analyze the computer output. Discuss the strength of the model in terms of the proportion of variation accounted for, slope, and overall predictability. Using the equation of the regression line, attempt to predict the number of union members when the labour force is 100,000. Note that the model was developed with data already recorded in units of 1,000. Use the data in the model as is.
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Related Book For
Business Statistics For Contemporary Decision Making
ISBN: 9781119577621
3rd Canadian Edition
Authors: Ken Black, Ignacio Castillo
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