Use the following data and run a correlation in Excel.
|
Population
|
Expenditure
|
|
29
|
127
|
|
435
|
214
|
|
86
|
133
|
|
1090
|
208
|
|
219
|
153
|
|
503
|
184
|
|
47
|
130
|
|
3524
|
217
|
|
185
|
141
|
|
98
|
154
|
|
952
|
194
|
|
89
|
103
|
Run a linear regression (in Excel) with the data in the table shown above. The independent variable is population and the dependent variable is expenditure.
a) Display the regression chart.
b) Comment on the distance of each data point verses the regression line.
c) Does the pattern of points take a cigar-like shape?
d) Are the points far from the line?
e) Is this regression analysis a good predictor of the effect of population on expenditures? Why or why not? Justify your answer.