FIN 330 Hours spent studying Scatterplot Of Data Paper Using Excel graph a scatterplot of the data. (4p) Describe the type of correlation and interpret th

FIN 330 Hours spent studying Scatterplot Of Data Paper Using Excel graph a scatterplot of the data. (4p)

Describe the type of correlation and interpret the correlation in the context of the data. Be specific in describing the magnitude, direction, and strength of the relationship.

Calculate the sample correlation coefficient for the data. (Pearson correlation coefficient between hours spent studying, x, and test score, y). (Round your final answer to three decimal places). (7p)

Show all work and outputs in excel as well as on each question. Can typed on word docs. The excel scatter plot must include all the outputs. All directions and questions are included in attachment below. FIN 330
Homework #5
100 Points possible
Due: April 2, 2019
DIRECTIONS: Make sure your responses are neat and readable. You must show me your calculation in a
separate piece of paper. Homework that is difficult to grade due to messiness will be returned ungraded. If
you would like to get full credit, do not forget to attach the Excel output.
The number of hours 9 students spent studying for a test and their scores on that test is
represented in the table below.
Hours spent
studying, x
0
2
4
5
5
5
6
7
8
Test scores, y
40
51
64
69
73
75
93
90
95
1) Using Excel graph a scatterplot of the data. (4p)
2) Describe the type of correlation and interpret the correlation in the context of the data. Be
specific in describing the magnitude, direction, and strength of the relationship. (6p)
3) Calculate the sample correlation coefficient for the data. (Pearson correlation coefficient
between hours spent studying, x, and test score, y). (Round your final answer to three
decimal places). (7p)
4) Write out the null and alternative hypotheses and conduct a hypothesis testing for the
data. At the 5% level of significance, is your test statistic statistically significant? Briefly
explain how you reached your conclusion.
For this question you must state followings: degrees of freedom, one or two tailed
hypothesis testing, the critical value, test statistic, do you reject or fail to reject the null
hypothesis. (19p)
5) Find the equation of the regression line for the hours spent studying and test scores of
students. Compute the a (intercept) and b(slope) values of the regression formula, ? = a +
bX for predicting test scores variable from hours spent studying variable. Write the
formula replacing a and b by their respective numerical values (round off each element in
the final formula to three decimal places). (13p)
6) What is the predicted test score for a student who spent 3 hours for studying for the test.
(5p)
7) What amount of the variance in test score (y) do the hours spent studying (x) account for
this sample? (r2 =?) Interpret the result in the context of the data. (8p)
8) Calculate the standard error of the estimate (the unexplained variation around the
regression line). (11p)
9) Use Excel to check the value of your hand calculated Pearson correlation coefficient (r),
the values of your intercept (a) and slope (b), coefficient of determination (r2), and
unexplained variation (residual) values. Circle and label each of these values on your
output and turn in with this homework. (20p)
10) Would you conclude that hours of spent is a good predictor of a test score based upon this
sample? What evidence do you have to support your conclusion? (7p)

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