Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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.)

  • 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.

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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To tackle this question lets follow a detailed and methodical approach Step 1 Data Preparation Gather the data provided and input it into a spreadshee... 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

Step: 3

blur-text-image

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

Wavelet Based Approximation Schemes For Singular Integral Equations

Authors: Madan Mohan Panja, Birendra Nath Mandal

1st Edition

0429534280, 9780429534287

More Books

Students also viewed these Mathematics questions