Homework 11

You survey people whose incomes range from $15k to $75k and also ask them to rank their happiness on a scale from 1 to 10. Your independent variable (income) and dependent variable (happiness) are both quantitative, so you can do a regression analysis to see if there is a linear relationship between them. Review the Income & Happiness (income.data.csv) dataset available in the datasets area in the course. Remember to save your .csv as an excel file when you begin working on it or you may lose some of the analysis or charts you create. Do the work in Excel but submit your summary in a Word document. Include copies of your results in your word document rather than keeping them in excel. Submit both your excel file and word document.

1)Hypothesis - Based on the information above (independent and dependent) variables, write a hypothesis statement

2)Summary of Data - Calculate summary statistics in Excel for each variable (income & happiness) and include in a single summary table for both variables. Include the following: Mean Median Standard Deviation Maximum Minimum

3)Visualizing the Data

a)Create two histograms, one for each variable. You can do this within excel as a chart. Do each of the variable appear to be normally distributed?

b)Create a scatterplot diagram that displays the relationship between the variables. Make sure your dependent variable is on the y axis. On the scatterplot, add the trendline, the R2 value and the regression formula.

4Describing Results -

a)Based on the results of your regression what can you say for your results? Is your hypothesis supported, not supported, or other?

b)Describe what the R2 results mean.