Due Tue, Oct 15
Build 2 multiple regression models
Model 1. Analyzing the Database Problem #4 on page 549. You will need the Excel data that we’ve used previously for database exercises: black_7e_excel_database
Model 2. Build a multiple regression model with your set of Pueblo Property Data. See instructions below for Model 2.
- Use the simple “bivariate” regression model developed in Exercise #8.
- Use your previously completed correlation analysis (see Exercise #7) to identify other key variables that may improve the regression model.
- Use the Data Analysis ToolPak in Excel to build several multiple regression models (i.e., models with 2 or more independent variables).
- Save the output from each model run.
- Choose what you consider to be the best model and write a short paragraph describing why you chose it.
Turn in the following (printed) in class on Tuesday:
- Description of Model 1 along with brief answers to questions posed in problem #4 on p. 549
- A list of all model runs attempted for Model 2, include (a) the variables used, (b) the model equations and (c) the resulting r-squared values.
- List the model you’ve selected and a brief written description as to why you think it’s the best.