Data in Microsoft Excel a) Run a regression with \"Earnings/Event\" as the depen
ID: 3130614 • Letter: D
Question
Data in Microsoft Excel
a) Run a regression with "Earnings/Event" as the dependent variable and all of the other variables as independent variables.
b) Which of the variables are statistically significant? How do you know?
c) Explain what the coefficient for "Driving accuracy" means. (Use the correct units).
Golfing Statistics Earnings/Event Events Avg. Score GIR (%)* Driving Distance Driving Accuracy (%) Putts/Round $239,493.68 22 70.37 67.9 288.4 60.2 31.82 $177,249.18 28 69.43 69.4 286.9 67.9 31.30 $218,619.18 22 70.23 67.1 276.0 71.0 31.81 $186,380.08 24 70.46 68.0 308.5 56.4 31.81 $209,511.75 20 69.78 68.3 282.9 68.5 31.43 $181,987.29 21 70.34 65.1 299.1 52.7 31.72 $162,536.13 23 69.92 66.3 287.8 65.2 31.68 $174,534.95 21 70.25 65.3 277.0 62.4 31.52 $135,353.70 27 70.64 68.0 291.8 67.9 32.35 $212,540.82 17 69.93 68.7 294.2 61.3 31.55 $297,079.50 12 70.26 69.3 298.7 61.3 32.31 $168,904.45 20 69.96 66.0 291.4 64.8 31.79 $135,791.58 24 70.21 68.5 309.8 55.7 31.73 $133,695.52 23 70.53 68.2 289.1 64.8 31.86 $112,192.04 26 70.59 66.5 279.7 71.2 31.30 $215,121.67 12 70.22 66.5 292.4 60.1 32.29 $183,922.93 14 70.86 62.9 287.2 52.0 31.99 $150,251.76 17 70.94 66.2 300.0 62.6 32.31 $183,356.69 13 71.13 66.9 291.7 67.1 32.06 $130,274.35 17 71.53 62.5 286.8 62.7 32.47 $286,285.40 5 69.73 69.4 308.4 70.6 32.09 $72,708.05 19 70.79 61.9 292.1 56.7 31.50 $99,597.31 13 71.07 64.1 295.8 57.2 31.52 $85,557.56 9 71.10 64.1 290.4 69.3 31.95 $46,406.25 8 71.24 61.1 289.9 65.5 32.31Explanation / Answer
a) here the dependent variable is "earnings/events" and all the other variables are independent variables.
using MINITAB the regression equation is found as
earnings/events = 1437822 - 4748*events - 45050*avg score + 22417*GIR
- 3429*driving distance - 5414*driving accuracy
+ 57950*putts/round [answer]
b) all the independent variables are statistically significant because for a variable to be statistically insignificant , its coefficient should be zero or very close to zero.
but here all the coefficients are nowhere near to zero and are very larges values.
hence all the variables are statistically significant.
c) the coefficient of driving accuracy means
if the other variables are kept fixed then the amount of change in the dependent variable if the driving accuracy is increased by 1%.
here the coefficient is -5414
hence if all the other variables are kept fixed then "earning/event" will decrease by 5414 units if the driving accuracy is increased by 1% [answer]
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