# Westcliff University Coefficients Statistics Worksheet

Question

5

: (

4

00-500 words) (Please have

2

–

3

references)

How do you interpret the effect of significant coefficients?

How are the distribution of the observed residuals of the constructed model tested for normality?

How can the regression model be used for prediction?

Visually communicate your responses to the questions above by developing an infographic.

*Tips on Designing an Infographic*

Build an infographic and attach a written summary for items which cannot fit on the infographic.

An information graphic (infographic) is a visual representation of a data set or instructive material. Infographics take a large amount of information in text (or numerical form) and then condense it into a combination of images and text highlights. This modern data transformation technique allows viewers to quickly grasp essential insights about a specific subject. Review this ten-minute video (link below) to see what elements go into creating an effective infographic. It will provide some background on how to complete your assignment for this week.

How to

C

reate an Infographic – Part

1

: What Makes a Good Infographic?

Get as creative as possible, and design a well-organized, easy to understand infographic. You can visit

Piktochart

,

Canva

,

Venngage

, and

Visme

online for infographic examples, tips on how to create them, and templates.

S

hare your completed infographic in GAP. Be sure to share the file in a format your instructor can view such as PDF. Search the help section of the tool you chose to use to find out the options for downloading, sharing, and publishing your infographic.

Question

6

: (400-500 words) (Please have 2-3 references)

Although natural gas is currently inexpensive and nuclear power currently (and perhaps deservedly) does not have a good reputation, it is possible that more nuclear power plants will be constructed in the future.

*Table 4*

presents data concerning the construction costs of light water reactor (LWR) nuclear power plants. The dependent variable, C, construction cost, is expressed in millions of dollars, adjusted to a 1

9

7

6 base. Preliminary analysis of the data and economic theory indicate that variation in cost increases as cost increases. This suggests transforming cost by taking its natural logarithm.

SPower plant capacity in MWe

N

Cumulative number of power plants built by the contractor

1.Build a multiple regression model to predict ln(C) by taking S and N or their natural logarithms as the independent variables. Make sure to check for multicollinearity.

2.Use residual analysis and R2 to check your model.

3.State which variables are important in predicting the cost of constructing an LWR plant, and

4.State a prediction equation that can be used to predict ln(C).

Table 4

*Data Concerning Construction of Light Water Reactors*

Plant

CSN1

460.05

6

8

7

14

2

452.99

1,065

13

443.

22

1,06

514

652.

32

1,065

12

5

642.

23

1,0651

26

345.39

51437

27

2.37

822

58

3

17

.

21

457

19

457.12

82

25

10

690.19

792

2

11

350.63

560

31

2

402.59

790

613

412.

18

5

30

214

495.58

1,050

7

15

394.36

850

16

16

423.32

778

317

712.27

845

1718

28

9.66

530219

881.

24

1,090

1

20

490.88

1,050

821

567.79

913

1522

665.99

828

2023

621.45

786

1824

608.8

821325

473.64

538

1926

697.14

1,130

2127

207.51

745

828

288.48

8217

29

284.88

886

1130

280.36

8861131

217.38

745832

270.71

88611 Question 1: (400-500 words) (Please have 2-3 references)

•

•

•

How do you interpret the effect of significant coefficients?

How are the distribution of the observed residuals of the constructed model tested for

normality?

How can the regression model be used for prediction?

Visually communicate your responses to the questions above by developing an infographic.

Tips on Designing an Infographic

Build an infographic and attach a written summary for items which cannot fit on the

infographic.

An information graphic (infographic) is a visual representation of a data set or instructive

material. Infographics take a large amount of information in text (or numerical form) and then

condense it into a combination of images and text highlights. This modern data transformation

technique allows viewers to quickly grasp essential insights about a specific subject. Review this

ten-minute video (link below) to see what elements go into creating an effective infographic. It

will provide some background on how to complete your assignment for this week.

How to Create an Infographic – Part 1: What Makes a Good Infographic?

Get as creative as possible, and design a well-organized, easy to understand infographic. You can

visit Piktochart, Canva, Venngage, and Visme online for infographic examples, tips on how to

create them, and templates.

Share your completed infographic in GAP. Be sure to share the file in a format your instructor

can view such as PDF. Search the help section of the tool you chose to use to find out the options

for downloading, sharing, and publishing your infographic.

•

•

•

•

Piktochart Download Options

Canva Download Support

Venngage Download Support

Visme Download Support

Question 2: (400-500 words) (Please have 2-3 references)

Although natural gas is currently inexpensive and nuclear power currently (and perhaps

deservedly) does not have a good reputation, it is possible that more nuclear power plants will be

constructed in the future. Table 4 presents data concerning the construction costs of light water

reactor (LWR) nuclear power plants. The dependent variable, C, construction cost, is expressed

in millions of dollars, adjusted to a 1976 base. Preliminary analysis of the data and economic

theory indicate that variation in cost increases as cost increases. This suggests transforming cost

by taking its natural logarithm.

S Power plant capacity in MWe

N Cumulative number of power plants built by the contractor

1. Build a multiple regression model to predict ln(C) by taking S and N or their natural

logarithms as the independent variables. Make sure to check for multicollinearity.

2. Use residual analysis and R to check your model.

3. State which variables are important in predicting the cost of constructing an LWR plant,

and

4. State a prediction equation that can be used to predict ln(C).

2

Table 4

Data Concerning Construction of Light Water Reactors

Plant

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

C

460.05

452.99

443.22

652.32

642.23

345.39

272.37

317.21

457.12

690.19

350.63

402.59

412.18

495.58

394.36

423.32

712.27

289.66

881.24

490.88

567.79

S

687

1,065

1,065

1,065

1,065

514

822

457

822

792

560

790

530

1,050

850

778

845

530

1,090

1,050

913

N

14

1

1

12

12

3

5

1

5

2

3

6

2

7

16

3

17

2

1

8

15

22

23

24

25

26

27

28

29

30

31

32

665.99 828 20

621.45 786 18

608.8

821

3

473.64 538 19

697.14 1,130 21

207.51 745

8

288.48 821

7

284.88 886 11

280.36 886 11

217.38 745

8

270.71 886 11