A cost estimator for a construction company has collected the data found in the source file Estimation.xlsx describing the total cost (Y) of 97 difference projects
A cost estimator for a construction company has collected the data found in the source file Estimation.xlsx describing the total cost (Y) of 97 difference projects and the following 3 independent variables thought to exert relevant influence on the total cost: total units of work required (X1), contracted units of work per day (X2), and city/location of work (X3). The cost estimator would like to develop a regression model to predict the total cost of a project as a function of these 3 independent variables. a. Prepare two scatter plots showing the relationship between the total cost of the projects and each of the two independent variables (X1, and X2). What sort of relationship does each plot suggest? After data analysis, you can find any cell in Excel to write down your interpretation. b. Suppose the estimator wants to use the total units of work required (X1), contracted units of work per day (X2), and city/location of work (X3) as the independent variables to predict total co...