Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

15. Given the following data, use Excel to construct a least squares regression model that develops a relation between the number of games lost,

15. Given the following data, use Excel to construct a least squares regression model that develops a relation between the number of games lost, the rainy days, and the team payroll of the Winterville Indians baseball team. The model should predict future lost games. YEAR GAMES LOST RAINY DAYS PAYROLL ($O00) 1993 25 26 175 1994 20 30 178 1995 10 240 1996 15 235 1997 22 17 180 1998 12 10 241 1999 25 22 173 2000 8 255 2001 4 2 267 2002 28 38 160 2003 29 34 147 a. What is the regression equation? b. What are expected games lost if Winterville experiences 15 rainy days and has a payroll of $200? c. What is the model's correlation coefficient and coefficient of determination? Interpret and discuss these values. d. What are the model's R, F, and t statistics? Comment on their outcomes. e. Run tests for multicollinearity, autocorrrelation, and heteroscedasticity. Comment on the outcomes.

Step by Step Solution

3.33 Rating (156 Votes )

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Statistics A First Course

Authors: David M. Levine, Kathryn A. Szabat, David F. Stephan

7th Edition

9780321998217, 032197901X, 321998219, 978-0321979018

More Books

Students explore these related Accounting questions