1. For the following data: a) Use Excel CORREL function to find the correlation coefficient: _____________________________________________________ b) Use Excel SLOPE function to find the slope: ______________________________________________________ c) Use Excel INTERCEPT function to find the intercept: _______________________________________________ d) What is the regression equation for the above data: _______________ 2. The equation Salary = 1500 YearsExperience + 45,000 describes employee salaries at Terminus Fissile Labs. a. Lars has 15 years' experience. b. What is his predicted salary? _____________________________ T/F A scatter plot is used to visualize the association (or lack of association) between two quantitative variables. T/F The correlation coefficient r measures the strength of the linear relationship between two variables. T/F Pearson's correlation coefficient (r) requires that both variables be interval or ratio data. T/F The least squares regression line is obtained when the sum of the squared residuals is minimized. T/F In a simple regression, if the coefficient for X is positive and significantly different from zero, then an increase in X is associated with an increase in the mean (i.e., the expected value) of Y. T/F In the model Sales = 268 + 7.37 Ads (both variables in dollars) an additional $1 spent on ads will increase sales by 7.37 percent. T/F A sample correlation r = .40 indicates a stronger linear relationship than r = -.60. T/F If SSE is near zero in a regression, the statistician will conclude that the proposed model probably has too poor a fit to be useful T/F The ordinary least squares method of estimation minimizes the estimated slope and intercept. T/F A negative correlation between two variables X and Y usually yields a negative p-value for r