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coefficient- correlation of determination

Each week, you will be asked to respond to the prompt or prompts in the discussion forum. Your initial post should be 75-150 words in length and is due on Sunday. By Tuesday, you should respond to two additional posts from your peers.

In this class, we have been working with the following scenario quite often:

ABC Enterprises is a growing company in which employees must frequently travel by car for business a few times each week. Currently, each employee is allotted 30 dollars each travel day to cover all meals. Sales employees often travel within a 1.5-hour radius of the office and frequently have multiple appointments each week. They have complained that that dollar amount for food is not enough, especially on days with multiple meetings. A survey, given by the CEO, was taken to get a sense of what the employees recommended for a new allotment.  Although not all responded, the response rate was pretty good – 67%.  Note:  The 30 dollars is for food. Gas is a different amount given to the employees –  please do not assume the 30 dollars includes fuel.

The company is trying to keep the most people happy with the meal allowance than it can. The vice president hypothesizes that the older employees are the ones who want more money for meals than the younger ones.  We are going to look at whether or not there is evidence to support this claim.  If the claim is true, then the company is thinking about having a smaller allowance and sending the younger employees out more than the older ones.

· January 2022 Master mf.xlsx 

· Create a scatter diagram with trendline from the data in that tab. Include the equation of the line on the graph (under “more options”) along with the r squared value (coefficient of determination).  Include the diagram in your post.

· What is a trendline, and how does it help us interpret the data?

· Discuss the slope of that trendline. Is it positive, negative, undefined, or 0?  What does it mean?

· Use the trendline equation to figure out how much money a 36-year-old employee would want.

· Use the trendline equation to figure out how much money an 84-year-old employee would want.

· How much trust do you put into the answer for 5 and 6?  How does the coefficient of determination and the simple correlation coefficient (r) provide you with some input on your response?