SUMMARY OUTPUT Regression Statistics Multiple R 0.957432522 R Square 0.916677034 Adjusted R Square 0.912510886 Standard Error 600910.0729 Observations 190 ANOVA of S5 MS F Significance F Regression 9 7.15E+14 7.95E+13 220.0299 3.54614E-92 Residual 180 6.5E+13 3.61E+11 Total 189 7.8E+14 Coefficients andard Erre t Stat P-value Lower 95% Upper 95%% Lower 95.0%Upper 95.0% Intercept -30404.49328 781984 -0.03888 0.969028 -1573439.392 1512630 -1573439 1512630 POINTS -78.08473409 92.46174 -0.84451 0.399506 -260.5330818 104.3636 -260.533 104.3636 STARTS 76478.72308 15134.76 5.053183 1.06E-06 46614.3424 106343.1 46614.34 106343.1 POLES -40064.1891 38994.44 -1.02743 0.305595 -117009.2127 36880.83 -117009 36880.83 WINS 205975.8788 44413.13 4.637725 6.75E-06 118338.5314 293613.2 118338.5 293613.2 TOP_10 78947.18153 21195.24 3.72476 0.000261 37124.08651 120770.3 37124.09 120770.3 AVG_ST -8910.66609 13489.65 -0.66056 0.509742 -35528.85448 17707.52 -35528.9 17707.52 LAPS 111.1087178 54.03331 2.0563 0.041197 4.488528342 217.7289 4.488528 217.7289 LED 42.78290972 236.4279 0.180955 0.856606 -423.7439824 509.3098 -423.744 509.3098 RATING 6095.616137 8791.049 0.693389 0.488959 -11251.15296 23442.39 -11251.2 23442.391. Use your study in Statistical Inferences, and the sample NASCAR data you are given, please estimate the amount of money an average driver makes winning NASCAR tournaments. From previous studies, you know that the standard deviation of NASCAR winnings is $2.222 million. For your work: a) Identify what strategy/formula you use b) Calculate the average money won by an average NASCAR driver. Be 95%% confident in your calculation. c) Explain/interpret your answer 2. Use your study in Statistical Inferences, and the sample NASCAR data you are given, please estimate the percent of times Ford cars are driven in NASCAR tournaments. You want to answer with 90%% confidence. a) Identify what strategy/formula you use b) Calculate the average money won by an average NASCAR driver. Be 95%% confident in your calculation. c) Explain/interpret your answer 3. Use your study in Determining Relationships, to answer the following scenario. The NASCAR CEO believes that drivers who drive Ford cars, as compared to any other car, win more money. He tasks you to verify this using the sample NASCAR data you have. Hint: categorize your sample data into Ford driven cars and non-Ford. Also, for every driver categorize the driver based on whether he/she won less than the average winnings or more than the average winnings (average included). For your work: a) Identify what strategy/formula you use. b) Test if Ford drivers make more than average winnings. Use 95%% confidence. c) Explain/interpret your answer d) Show a plot of your results. Make sure it has a title, legend, axes named. 4. Use your study in Determining Relationships, to test whether there is a relationship among any pair of numeric variables in the NASCAR data. Interpret the answers you find for every relationship. For the strongest relationship and the weakest relationship plot the data and discuss it. Explain if the plot shows the relationship index you calculated. 5. Use the regression analysis output in the worksheet NASCAR Regression. a)Interpret the regression results. Make sure you discuss the R2, coefficients, identify the significant variables. b) Using your analysis, list the top 3 factors you will use in your advertisement to attract more NASCAR drivers. c) Now add the Ford car to the regression model. Does the model improve? By how much? Can the CEO advertise that drivers should drive Ford cars because they will make more money? 6. Use your study in Finding Differences to test whether the average driver drove the same number of laps when driving Ford cars, as compared to when driving Dodge cars. Be 90% confident in your answer. 7. Use your study in Finding Differences to test whether Toyota cars are driven as frequently as Chevy cars. Interpret your answer. Be 95% confident in your analysis
