Multiple Regression: Case Problem Predicting Winnings for NASCAR Drivers [WLOs: 1, 2, 3] [CLOs: 1, 2, 3, 4, 5, 6, 7]

Prior to beginning work on this discussion forum, watch the Week 5 Introduction(Links to an external site.) video, and read Chapter 15 in the MindTap ebook by clicking on the Getting Ready link for each perspective chapter.

Step 1: Read

• Review Case Problem 2: Predicting Winnings for NASCAR Drivers Download Case Problem 2: Predicting Winnings for NASCAR Drivers from Chapter 15 of the ebook.

Step 2: Do

• Run a Regression for the Data File NASCAR (Chapter 15) using the video How to Add Excel's Data Analysis ToolPak(Links to an external site.) for assistance.

In a managerial report,

• Suppose you wanted to predict Winnings ($) using only the number of poles won (Poles), the number of wins (Wins), the number of top five finishes (Top 5), or the number of top ten finishes (Top 10). Which of these four variables provides the best single predictor of winnings?
• Develop an estimated regression equation that can be used to predict Winnings ($) given the number of poles won (Poles), the number of wins (Wins), the number of top five finishes (Top 5), and the number of top ten (Top 10) finishes. Test for individual significance, and then discuss your findings and conclusions.

Step 3: Discuss:

• What did you find in your analysis of the data? Were there any surprising results? What recommendations would you make based on your findings? Include details from your managerial report to support your recommendations.

Driver	Points	Poles	Wins	Top 5	Top 10	Winnings ($)
Tony Stewart	2403	1	5	9	19	6,529,870
Carl Edwards	2403	3	1	19	26	8,485,990
Kevin Harvick	2345	0	4	9	19	6,197,140
Matt Kenseth	2330	3	3	12	20	6,183,580
Brad Keselowski	2319	1	3	10	14	5,087,740
Jimmie Johnson	2304	0	2	14	21	6,296,360
Dale Earnhardt Jr.	2290	1	0	4	12	4,163,690
Jeff Gordon	2287	1	3	13	18	5,912,830
Denny Hamlin	2284	0	1	5	14	5,401,190
Ryan Newman	2284	3	1	9	17	5,303,020
Kurt Busch	2262	3	2	8	16	5,936,470
Kyle Busch	2246	1	4	14	18	6,161,020
Clint Bowyer	1047	0	1	4	16	5,633,950
Kasey Kahne	1041	2	1	8	15	4,775,160
A.J. Allmendinger	1013	0	0	1	10	4,825,560
Greg Biffle	997	3	0	3	10	4,318,050
Paul Menard	947	0	1	4	8	3,853,690
Martin Truex Jr.	937	1	0	3	12	3,955,560
Marcos Ambrose	936	0	1	5	12	4,750,390
Jeff Burton	935	0	0	2	5	3,807,780
Juan Montoya	932	2	0	2	8	5,020,780
Mark Martin	930	2	0	2	10	3,830,910
David Ragan	906	2	1	4	8	4,203,660
Joey Logano	902	2	0	4	6	3,856,010
Brian Vickers	846	0	0	3	7	4,301,880
Regan Smith	820	0	1	2	5	4,579,860
Jamie McMurray	795	1	0	2	4	4,794,770
David Reutimann	757	1	0	1	3	4,374,770
Bobby Labonte	670	0	0	1	2	4,505,650
David Gilliland	572	0	0	1	2	3,878,390
Casey Mears	541	0	0	0	0	2,838,320
Dave Blaney	508	0	0	1	1	3,229,210
Andy Lally*	398	0	0	0	0	2,868,220
Robby Gordon	268	0	0	0	0	2,271,890
J.J. Yeley	192	0	0	0	0	2,559,500