Practice Lab Wed

• Perform Linear Regression Analysis for HarvestRain,
• Document Results here
• Compare R^2 values for Harvest Rain and AGST that we completed on Monday. Which model is the better model? Explain your reasoning.

Detailed Instructions

• Analysis for HarvestRain

  • Open your Training application
  • COPY AGST_Training_Summary Sheet
  • Rename it - HarvestRain_Training_Summary
  • The following objects must be in the Sheet:
    • Strainght Table
    • Statistics Box with Average, Min and Max values
    • Scatter Chart
    • Text Object with R^2 value
    • Combo chart showing actual price as bar chart and predicted price as line chart
  • In StraightIn ALL expressions change AGST to HarvestRain
  • In Statistics box, change AGST to HarvestRain
  • In Scatter plot, change first expression to be HarvestRain
  • In Combo Chart, in the Expression (0.6351*Only(AGST)-3.4178) change AGST to Harvest Rain, 0.6351 to the Linear Regression Coefficient A you found in Straight Table, -3.4178 to the Linear Regression Coefficient B you found in the straight table. (Alternatively, you can write the following expression: $(=LINEST_M(Price, HarvestRain))*Only(HarvestRain)+$(=LINEST_B(Price, HarvestRain))
  • Open the Word Summary File
  • Document Linear Regression Formula and R2 for HarvestRain variable.
  • Save the file and close it
  • Open Testing application
  • Copy AGST_Testing_Summary Sheet
  • Rename it to HarvestRain_Testing_Summary
  • The following objects must be on the Sheet:
    • Combo Chart showing actual price as bar chart and predicted price as line chart
    • Straight Table showing information for 1979 and 1980 ONLY
  • In ALL expressions in ALL objects, replace AGST with HarvestRain and change linear regression coefficients.

    Pay Attention, in this application you MUST write numeric values for Linear Regression Coefficients. You cannot use LINEST_M and LINEST_B functions. Copy the numbers from the Word file

  • Save the file and close it