Develop a simple regression model based on the data provided and write a brief report on your findings

Learning Goal: I’m working on a data analytics project and need the explanation and answer to help me learn.

This is a detailed report that you will develop based on your analysis of the data. Make sure to include all the sections and, complete and describe the results of each of the steps detailed below. Please provide both the excel worksheet with the models completed, along with the word document report with the answers and charts.

Developing the report

Each Excel project file has two tabs – DATA and Variable INFO. The DATA worksheet contains a YELLOW column representing the numerical response variable and a DARK ORANGE column representing the numerical predictor variable for this simple regression analysis. Use only these two columns for this part of the project

Introduction
Assume you are part of the organization or group that uses the data available to you for your team project. Using the YELLOW-highlighted numerical variable column in your Excel worksheet as the response variable of interest, create an introductory “scenario� of one paragraph that describes the data file for your project and why you (the ???? Corporation/Group) are performing this simple regression analysis that will enable you to predict the outcomes of this numerical response variable based on one predictor variable, the DARK ORANGE column.

Background:
Using both the response variable (YELLOW column) and the predictor variable (DARK ORANGE column) develop appropriate descriptive summary measures.

Simple Regression Modeling:

Demonstrate the complete development of a simple linear regression model using an appropriate numerical predictor variable. An appropriate value of the predictor variable should be used to obtain the prediction (i.e. the value of the dependent/response variable), along with the confidence interval estimate for the mean response Appropriate tables and charts should be included in the body of this section or in an Appendix to the report

Summary of Findings:

The report should end with a short paragraph that connects to the Introduction section scenario.

Simple Regression Modeling Steps

1. Open the Excel worksheet containing your Data. (File attached below)
2. Run a simple linear regression model using the independent numerical variable whose Excel worksheet column is highlighted in DARK ORANGE as the predictor of Y the YELLOW Excel column.
   1. Cut and paste into your report the scatter plot and the Excel Regression Output for this simple linear regression model.
   2. Write the sample regression equation.
   3. Interpret the meaning of the Y-intercept and slope for your fitted model.
   4. Interpret the meaning of the coefficient of determination r ² .
   5. Interpret the meaning of the standard error of the estimate SYX .
   6. Obtain the residual plots and cut and paste them into the report. Briefly comment on the appropriateness of your fitted model.
      1. (1) If the assumptions are met and the fitted model is appropriate, continue to Step 2G.
      2. (2) If any of the linearity, normality, or equality of variance assumptions are problematic state this but continue to Step 2G. Note — you do not need to check the assumption of independence in your project. (That assumption is automatically met because your project is not time-dependent).
   7. Comment on the statistical significance of your fitted model
   8. Comment on the 95% confidence interval estimate on the average impact on the response variable for each unit increase in the predictor variable.
   9. Select a value for your independent variable in its relevant range:
      1. Predict Å·