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:
- Create a scatterplot in Excel with â€œAnnual Amount Spent on Organic Foodâ€ on the y (vertical) axis and â€œAgeâ€ on the x (horizontal) axis.
- Insert a trendline.
- What does the trendline indicate about the relationship between these two variables?
- Calculate the correlation coefficient for these two variables using the =CORRELATION() formula in Excel.
- Interpret the correlation coefficient.
- Does the correlation coefficient agree with the slope of the best fit line? Explain.
- Add the equation for the best fit line on the chart.
- Does this equation match the linear regression equation from the Case for this module? Explain.