Q5)

A recording label/entertainment promoter wishes make a linear regression analysis to predict the concert attendance of an established Korean-pop band in their upcoming tour in 2021.He believes that the expected number of concert attendees is related and can be explained by the number of times that the band's songs have been downloaded in the social media.Yearly data concerning the two variables are collected and stored in 'ConcertDownloads15' worksheet in the xl

a)Based on the information provided above, specify the dependent variable and the independent variable for doing the regression analysis. Briefly explain the reasoning for your selection.

b)Using Excel, draw a chart to evaluate the number of concert attendance over time.Display your chart and provide a brief comment on what you can observe from the chart.

c)Using Excel, calculate the correlation value of the relationship between the two concerned variables.Then, provide an interpretation of the correlation calculated in terms of the relationship between the two variables.

d)Use Excel to estimate a simple linear regression model. Display the Excel regression summary table and write the estimated linear equation.Then, provide an interpretation of the slope coefficient estimate of the linear model.

e)Display the value of the coefficient of determination.Then, provide an interpretation of the coefficient of determination value in terms of the relationship between the two variables.

EXCEL SPREADSHEET IMAGE