using Excel to solve a simple linear regression problem.
After studying and reviewing the concepts and practices of correlation and simple linear regression, solve the following exercise using Excel:
The following sample observations were randomly selected:
X: 5 3 6 3 4 4 6 8
Y: 13 15 7 12 13 11 9 5
Consider the following aspects when submitting your test:
Graph the scatter plot or dispersion
Determine the correlation coefficient.
Determine the regression equation.
Find the value of the dependent variable when X = 7.
Is the regression model adequate? Justify your answer. Which test determines this?
Present your answers with the aspects learned so far about correlation and simple linear regression.