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To complete this assignment successfully, you should:
§ Regression Analysis§
Assignment
Send to your instructor a single
Excel file (including written answers) as e-mail an attachment through WebMail. addressed
to BA501@mail.cba.nau.edu and put "BA501
(last name) Assignment name and number " somewhere in the e-mail
"subject." If you have any questions on this home work, please e-mail
me with questions. Put the different exercise outputs on separate sheets
in the Excel file. Here is the
Excel
worksheet for this assignment. Use "save as"
to save it to your computer or to a floppy.
Exercise 1 Suppose the quantity sold of a good (Y) is measured against price (X) of the good sold during various weeks. Eight weeks were randomly selected over a one year of time frame. The following statistics were gathered:
Given:
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x |
y |
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4.00 |
9 |
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3.50 |
15 |
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3.00 |
19 |
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2.50 |
27 |
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2.00 |
31 |
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1.50 |
33 |
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1.00 |
39 |
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0.50 |
41 |
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Sx = 18 |
Sy =
214
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Sxy
= 384
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Sx2
= 51
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Sy2
= 6648
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n = 8 |
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A. Calculate the least squares regression equation using Excel and using the sums given above. What is the interpretation of b0 and b1?
B. Do an hypothesis test for a negative relationship between
the price and the quantity sold using Excel. Assume
a 5% level of significance. State the hypotheses and describe how
you reach your conclusion. 
(click me)
Exercise 2 Suppose the quantity produced of a good (Y) is measured against price (X) of the good during various weeks. Eight weeks were randomly selected over a one year of time frame. The following statistics were gathered:
Given:
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x |
y |
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4.00 |
40 |
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3.50 |
38 |
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3.00 |
32 |
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2.50 |
29 |
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2.00 |
24 |
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1.50 |
18 |
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1.00 |
16 |
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0.50 |
10 |
SCPxy = 91.75
SSx = 10.5
SSy = 808.875
A. Calculate the least squares regression equation using Excel and using the sums of squares given above. What is the interpretation of b0 and b1?
B. Do an hypothesis test for a positive relationship between the price and the quantity sold using Excel. Assume a 5% level of significance. State the hypotheses and describe how you reach your conclusion.