Do you think we need all threecurrent independent variables in our Regression model to predict changes in MPG_Highway (Circle)? Yes No Which variable(s) would you remove (Circle)? Of the following variables in the spreadsheet, which variable would you select next to add to the model i.e., you think it would create a stronger prediction of MPG_Highway)? Run a SAS Regression Model on the CARS database using MPG_Highway as the Dependent Variable (Y) and include the original Independent Variables (minus any you removed in step 6) and adding the variable you chose in step 7.Print the “Results” page to a PDF file and save it as NAME-Part2 (Print icon is found on left side above Table of Contents) Submit this File. Provide the following from theSAS Model: Coefficient of Determination (R-squared). ________________________ Y-Intercept for the Regression Model ________________________ Slope value for each of your Independent Variables. ________________________ Did your SAS model provide a stronger Coefficient of Determination (Circle)? Yes No A dealership is trying to use similar data to Forecast total sales for the coming year (of New and Used Vehicles) and they have pulled data from their Finance records. They are trying to assemble the best data to build a Regression model. Which set of data fields from the following Independent Variables make the most practical sense to use in the decision model forecasting the Dependent Variable called “Sale Price” for any vehicles in inventory (CIRCLE)? This is a logically decision process. What is the Sale Price based on? DO NOT have SAS do more regression models. MSRP, Color, Overall Length, Automatic vs. Manual (Transmission) MSRP, Invoice, Make, Model, Odometer Reading Invoice, Wheelbase, Model Year, Horsepower MSRP, Manufacturer, Wheelbase Length, Gas Mileage Recall the horizontal axis is displaying the explanatory variable (independent variable, X) and the vertical axis is displaying the dependent variable(Y). ALL 5 Scatterplots should be on ONE worksheet to Submit in Canvas. *Note: Not required here, but for professional usage — Do put in chart titles and axis titles, if your work will be used (or viewed) by other professionals. We are using your work here as a personal learning lab – to become familiar with the data, regression, to build models and to select a good regression model. No relationship Weak Moderate Strong No relationship Weak Moderate Strong No relationship Weak Moderate Strong No relationship Weak Moderate Strong No relationship Weak Moderate Strong Provide the followingfrom the “Excel Regression Model” in #3: Recall that the coefficient on each X variable is the slope. Y = ______ + _____X1 + ______X2 + ______X3 R2 = _____ AT THIS POINT, PLEASE SAVE YOUR EXCEL SPREADSHEET WITH YOUR “NAME–Part1” (John Doe-Part1.xlsx) and upload it (submit it) using the “Submit CARS Spreadsheet” assignment item in Canvas. THEN, Do further analysis in Excel to answer these questions. Have Excel runmore regressions, and compare the R2 to make your decisions. Run the regression with only two variables and note the increase in R2 (percentage of Y’s variation explained in the model) when there are three variables. Write the regression model for each of the 2 variable models and note the R2 Y = ______ + _____X1 + ______X2 R2 = _____ Y = ______ + _____X1 + ______X3 R2 = _____ Y = ______ + _____X2 + ______X3 R2 = _____ X1 = Horsepower X2 = Cylinders X3 = EngineSize Start with the best 2 variable regression model (above) have Excel runmore regressions, and compare the R2 to make your decision. Run the regression with only two variables and note the increase in R2 (percentage of Y’s variation explained in the model) when there is one additional variable. Which one gives the highest improvement to R2? X5 = Type X6 = DriveTrain X7 = Weight X8 = Wheelbase[DCN1] X9 = Length END PART 1 Copy your answers from here as required, save and submit in Canvas“NAME-ANSWERS Part 1”” (John Doe-ANSWERS-Part1.xlsx) PART 2 is due on or before November 26, 2017. Part 2 of the Project (Critical Thinking and SAS® Model) Note: You may repeat #3 and #4 (above in SAS) then continue the data analysis, model building decisions and critical thinking activities. OR just rely on what you learned in Part 1. Critical Thinking Question: END PART 2 Copy your answers from here as required and submit “NAME-ANSWERS Part 2” ” (John Doe-ANSWERS-Part2) DATA ANALYSIS (Analysis Tool Pak add-in) OPEN Excel Check the DATA tab — on the far right – If “Data Analysis” is not there you need to add-in the option. TO ADD-IN the Analysis ToolPak File tab – Left menu, last item, click on “Options”. Next page, Left menu, next to last item, click on “Add-ins”. At bottom (middle) click on “Go” Next dialog box, check first item, “Analysis ToolPak. Click on ok. Check the DATA tab — on the far right – “Data Analysis” should be there.
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