Exam #2 Part 2 Solutions

October 22, 2013

I worked through the 14 problems on the 2nd part of the exam using a calculator and pencil + paper.  I’ve scanned in my hand written solutions.

First, calculate ∑x, ∑y, ∑x², ∑y², ∑xy and produce a scatter plot.

Exam2_part2-1

Next, calculate the Pearson Correlation Coefficient, identify correlation type, dependent and independent variables, calculate slope and y-intercept of the regression line and produce a linear equation.

Exam2_part2-2

Finally, calculate the Sum of Squares Error (SSE), Standard Error of the Estimate, Coefficient of Determination (r²), estimate property values and discuss how multiple regression might be utilized.

Exam2_part2-3

Here is the formula sheet that was provided, for reference.

Ch12-Formulas

Justin

Justin Holman is CEO of Aftermarket Analytics, where he leads efforts to develop cutting edge sales forecasting and inventory optimization technology for the Automotive Aftermarket. Prior to joining Aftermarket Analytics, Justin managed corporate consulting for the Strategy & Analytics division at MapInfo Corporation, leading major projects for retail clients including The Home Depot, Darden Restaurants, Bridgestone-Firestone, Sainsbury’s and New York & Company. Before that, Justin served as Vice President of Software Development at LogicTools, now part of IBM's supply chain application software group. Justin holds a B.A. from Claremont McKenna College, a Ph.D. from the University of Oregon and an Executive Management certificate from Northwestern University's Kellogg School of Management.

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