Business Research Methods

Note: The submission of this assignment is optional. It will not affect your
grade negatively if you chose not to submit it. I will grade this assignment
after the final exam has been graded.
You recently started following Soccer and are deciding which country to follow
(other than your own country) in the upcoming FIFA world cup. You decide to use
your BRM knowledge and tools to come to a decision that might result in following a
country’s team, which has a higher chance of winning the world cup. You get your
hands on the FIFA rankings based on points for 30 countries.
A) Download the data set called “FIFA Rankings Data-Extra Credit Homeworkxlsx”
The first variable is the FIFA ranking points (the higher the points, the better the
team). The second variable is the economic factor and the third is labor market
B) You have a proposition that economic factors and labor market factors might
contribute to soccer rankings. Can you use your intuition make a prediction about
how (positively or negatively) both these variables may be related to soccer
rankings? Justify your choice.
C) Build a Multiple Linear Regression Model to confirm the above proposition. Give
all the details of the model. (Use Excel’s data analysis toolpak or R to do 50)
Make sure you present the following as a part of your solution;

Regression equation

Scatterplot (with and with out the regression line) (extra points for using the

3d plot in R)


R sq and adjusted R sq
D) 15 your intercept term statistically significant? Are any of your coefficient terms
statistically significant?
E) 15 the model a good fit to the data? Based on your model, would you decide to
follow a country with high GDP and low unemployment rate?
F) Comment on which one of the assumptions of OLS might have been violated.