The objective of this assignment is to expose you to the problems involved in building a regression model. The assignment requires you to collect data, to build a reasonable model, and to submit a short report on your findings.
The data for this project is data your group collects. First, specify a variable you wish to predict or explain; this will be your dependent variable. Then, specify at least three variables that will serve as predictor (or explanatory) variables of your dependent variable; these will be your independent variables. Data may be collected from library sources, from company files, or you may conduct a survey to obtain the data (see the documents entitled Collecting Data and Good Data). You may have to settle for approximate, or surrogate, measures for some of the variables. Gather data on at least 20 observations with at least 3 predictor variables.
The assignment is to be done in groups. Groups may be from 3 or 4 in size.
Your objective is to obtain a regression model that is a “sensible”-- the coefficients should be of the right sign and magnitude. And the various regression assumptions should be satisfied. Or, if these conditions are not met, you should explain why, and what implications this has for using your model.
It may happen that after careful thought and diligent work, you do not obtain a model that you consider of great value. In this case, describe what you tried to do and what steps you took, and the results obtained.
Hand in one report per group – follow the framework outlined in the document entitled, The Statistical Report. Regression Project Proposal
A. Title of Project
B. (1) Are you trying to explain and/or predict...
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