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Perform a regression analysis with the price for the compressor be the dependent variables, and capacity, EER, and ln(volume) be the independent variable. You can
Perform a regression analysis with the price for the compressor be the dependent variables, and capacity, EER, and ln(volume) be the independent variable. You can use the Excel menu Data->Data Analysis->Regression to perform the analysis. Note that before running the regression, you should first take the natural log of the volume data because if you plot the price against the volume, you will find their relationship is not linear. Please provide step by step instructions on how to perform this regression analysis.
\begin{tabular}{|r|} \hline In(Volume) \\ \hline 11 \\ \hline 12 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 13 \\ \hline 11 \\ \hline 11 \\ \hline 12 \\ \hline 10 \\ \hline 14 \\ \hline 11 \\ \hline 10 \\ \hline 13 \\ \hline 11 \\ \hline 12 \\ \hline 10 \\ \hline 11 \\ \hline 11 \\ \hline 10 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 10 \\ \hline 12 \\ \hline 11 \\ \hline 13 \\ \hline 13 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 12 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline \end{tabular} Notes: 1) Type options: Recipricating or scroll 2) Regions: Europe, North America, South America, Asia 3) Unit Volume: annual unit purchases 4) EER: Energy Efficiency Rating \begin{tabular}{|r|} \hline In(Volume) \\ \hline 11 \\ \hline 12 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 13 \\ \hline 11 \\ \hline 11 \\ \hline 12 \\ \hline 10 \\ \hline 14 \\ \hline 11 \\ \hline 10 \\ \hline 13 \\ \hline 11 \\ \hline 12 \\ \hline 10 \\ \hline 11 \\ \hline 11 \\ \hline 10 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 10 \\ \hline 12 \\ \hline 11 \\ \hline 13 \\ \hline 13 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 12 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline 11 \\ \hline \end{tabular} Notes: 1) Type options: Recipricating or scroll 2) Regions: Europe, North America, South America, Asia 3) Unit Volume: annual unit purchases 4) EER: Energy Efficiency RatingStep by Step Solution
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