Author: Anonymous

When you create a scatter plot of Price (X) vs Rating (Y) using the Fine Art dataset, what overall pattern do you see?

Using the Logarithmic Model (Y=10+8.5·ln(X)), predict the Rating for a painting costing $10,000. (Note: ln(10000)≈9.21).

In the Logarithmic Model (Y=a+b·ln(X)), the Slope (b) is 8.5. If you use =SLOPE(Y, LN(X)) in Excel, this is the value you get. (This confirms you know how to derive the slope for the non-linear model). Enter 8.5 to confirm.

Using the logarithmic regression you ran in Excel, where Rating (Y) is regressed on ln(Price), predict the Rating for a painting priced at $500,000.Enter your answer rounded to one decimal place.

You perform a regression of Value Score (Y) vs. Graduation Rate (X). The Slope is 0.02 and Intercept is 0.1. Predict the score for a school with an 80% graduation rate.

Case Study 1: University Value Analysis “Education Monthly” publishes an annual ranking of universities. To determine a Value Score (where 1.0 is average, and 2.0 is excellent), they analyze factors like Tuition, Graduation Rate, Student Satisfaction, and Post-Grad Employment. You are analyzing a dataset of 20 Universities. You want to understand which variable is the strongest predictor of Value Score. The dataset includes: Value Score (Y) Annual Tuition ( X 1 ) Graduation Rate ( X 2 ) Student Satisfaction ( X 3 ) (Scale 1-100) Employment Rate ( X 4 ) Final_University_Value_20.csv

You perform a regression of Value Score (Y) vs. Tuition (X). The Slope is -0.00004. If a university charges $30,000 and the Intercept is 2.5, what is the predicted Value Score?

The Linear R2 is 0.55. The Logarithmic R2 is 0.92. Which model is best?

Using the contingency table, which conclusion is correct for the Chi-Square Independence Test?Observed recommend rates:Online: 40/50 = 80%In-Store: 30/45 = 66.7%Expected frequencies differ meaningfully, producing a Chi-square statistic > critical value

Compute the difference in sample means (Online − In-Store).