Using the Email marketing (EMMA) dataset (attached), build a simple regression model that predicts Total customer value (Y) from Tenure (X). . .
Use the Excel capabilities for Simple Regression (hint: data – scatterplot – fit trendline)
Use the algebra that we walked through to come up with the simple regression equation. You will need the following components to determine the slope b and intercept a values of the equation:
Correlation, r (you can use Excels CORR( ) function to calculate this),
Standard deviations for X and Y (use population standard deviations, stdev.p( ),
Means for X and Y,
What would you conclude about the relationship and ability to predict Value from Tenure?
Note: that answers to 1 and 2 above should all match if calculated correctly.