ECON 2110 Statistics 2 Prof. Priya Nagaraj Answer all questions. Credit will b

ECON 2110 Statistics 2
Prof. Priya Nagaraj

Answer all questions. Credit will be given to clarity of explanation and use of mathematical formula to explain your answer.
Show your work. You MUST attach an MS Excel file you worked on.

The data for both questions is given in the Excel file provided. The data is in two different sheets. Use that data to answer the following questions. You will need to attach the Excel file and your answer sheet.
1.The Student Government Association at Middle Carolina University wanted to demonstrate the relationship between the number of beers a student drinks and his or her blood alcohol content (BAC). A random sample of 18 students participated in a study in which each participating student was randomly assigned a number of 12-ounce cans of beer to drink. Thirty minutes after they consumed their assigned number of beers, a member of the local sheriff’s office measured their blood alcohol content. The sample information is reported here.
a.Use Excel to draw a scatter plot for the number of beers consumed and BAC. Comment on the relationship. Is the relationship strong or weak? Is it positive or negative?
b.Determine the Correlation Coefficient.
c.At the .01 level significance, is it reasonable to conclude that there is a positive relationship in the population between the number of beers consumed and the BAC?
2.Bloomberg Intelligence listed 50 companies to watch in 2018 (www.bloomberg.com/features/companies-to-watch-2018). Twelve of the companies are listed here with their total assets and 12-month sales. Let sales be the dependent variable and total assets the independent variable.
a.Draw a scatter plot
b.Compute the correlation coefficient
c.Determine the regression equation
d.For a company with $100 billion in assets, predict the 12- month sales.