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BUS 204 QUANTITATIVE BUSINESS ANALYSIS
1) Log in to CANVAS → BUS 204 QBA → Modules → BUS 204 Assignments
2) Download the dataset.
The data set presents COST OF SHIPMENT and TYPE OF CARGO.
Your objective is to construct a model that could be used to predict the cost of shipment based on a cargo type. There are three types of cargo: Durable, Semi-fragile, and Fragile.
Because TYPE OF CARGO is a categorical variable, you are going to introduce DUMMY variables.
Use Durable as a reference category when creating the dummy variables.
1. How many observations are in the dataset? In other words, what is n?
2. How many levels does your categorical variable TYPE OF CARGO have?
3. How many DUMMY variables is it necessary to create?
Be sure to use Excel’s IF() function to create dummy variables.
4. How many predictor variables are in your model? In other words, what is k?
5. Run the REGRESSION Data Analysis Tool in Excel to product a regression output.
6. Interpret the coefficients of the regression model. How can these values be used to predict the cost of shipment?
7. How well does the model fit the data? Report the multiple R, R-square, and the Standard Error of the estimate.
8. What is the average cost of shipment for the durable type of cargo?
9. What is the average cost of shipment for the semi-fragile type of cargo?
10. What is the average cost of shipment for the fragile type of cargo?
11. Format your work nicely. Submit the file and the answers. Follow the links on CANVAS.