Complete this question using Minitab16 Software for all questions for problem #1… 1 answer below »

Follow the following directions carefully and in detail:
Complete this assignment using Minitab16 Software for all questions for problem #1 and Problem #2. I have provided the data sets for both as an attachment on the account panel. Also, make sure that the answers are all in detail shown on the word document and label each question accordingly.
1. Use the data set for Case 6-5 (Case6-5.MTW). This Minitab Worksheet is located in the file hankedata_set.zip which you will find in the Course Materials folder. After opening this zip file, go to Minitab Data Sets, Ch06 and you will find Case6-5.MTW. This case is Consumer Credit Counseling.
(a) Fit a simple regression model using business activity index as the independent variable. Is the regression equation significant? Explain your answer.
(b) How much of the variability in the number of new clients is explained by the business activity index?
(c) Construct and evaluate all four residual plots (normal probability plot of residuals, residuals versus fitted values, histogram of residuals and residuals versus order plot).
(d) Forecast the number of new clients seen in a month if the business activity index is 110. Use Minitab to forecast both a 95% confidence interval and a 95% prediction interval. Interpret each. Now do the same for a business activity index of 150. For which value of the business activity index do you believe the model gives a better forecast? Explain.
(e) Compute and evaluate the Durbin-Watson Statistic for this model.
(f) Suggest how the model might be improved.
2. Use the data set for Case 8-8 (Case8-8.MTW). This Minitab Worksheet is located in the file hankedata_set.zip which you will find in the Course Materials folder. After opening this zip file, go to Minitab Data Sets, Ch08 and you will find Case8-8.MTW. This case is Surtido Cookies.
(a) Build a multiple regression model to forecast monthly sales of Surtido cookies (in kgs) using the Stepwise Regression option. Consider all available independent variables in the data set. What is the final model?
(b) Compute and evaluate the Durbin-Watson statistic for the final model found using the Stepwise Regression approach. To do this you will need to use the “Regression” command inputting only those independent variables included in the final model of the Stepwise Regression.
3. Use the data set ASSESS.MTW provided with MINITAB. It is located in the Student9 folder. Therefore, go to “File” then “Open Worksheet” to the icon “Look in Minitab Sample Data Folder.” Click on the Student9 folder to find the data files arranged alphabetically.
(a) Build a multiple regression model to forecast the total assessed value of the home and the land (Total$) using the Stepwise Regression option. Consider only quantitative independent variables (do not use variables in text columns designated with –T such as whether or not the home has a garage). What is the final model?
(b) Repeat the above using the Best Subsets option. Do the results using this approach agree with the Stepwise Regression results? Explain.

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