bus 520 slp3

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Assume once again that you are a consultant who works for the Diligent Consulting Group. You are continuing to work on the analysis of the customer database from Modules 1 and 2.

SLP Assignment Expectations

Complete the following tasks in the Module 3 SLP assignment template:

  1. Create a scatterplot in Excel with “Annual Amount Spent on Organic Food” on the y (vertical) axis and “Age” on the x (horizontal) axis.
  2. Insert a trendline.
  3. What does the trendline indicate about the relationship between these two variables?
  4. Calculate the correlation coefficient for these two variables using the =CORRELATION() formula in Excel.
  5. Interpret the correlation coefficient.
  6. Does the correlation coefficient agree with the slope of the best fit line? Explain.
  7. Add the equation for the best fit line on the chart.
  8. Does this equation match the linear regression equation from the Case for this module? Explain.