World Bank Data Analysis
Using the World Bank database, analyze the association of two indicators that may have an interesting association.
• What association do you predict there is between these two indicators/variables? Why?
• Create a neat data table of two indicators for 20 countries; try to use two data sets from the same year.
• Create a scatterplot. Include clearly labeled explanatory/response variables and the regression line.
• Describe the association between the variables
• Determine whether a linear model is appropriate for your data. Explain why, and support with a residuals plot.
• Include the equation of the regression line, r and r2 values (use proper notation).
• Interpret the slope in context.
• Interpret the y-intercept in context.
• Note and interpret any outliers or note the absence of outliers. Be sure to cite specific points/countries.
• Make a prediction from the model.
• Comment on the accuracy of your prediction. What does r2 tell you about the predictive power of the model?