4. What is the equation of the regression line? [Select] 5. Using the regression line model, predict the stock price of Stock B rounded off to two Select] ✪ decimal places when the stock price of Stock A is 14.
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![4. What is the equation of the regression line? [Select]
5. Using the regression line model, predict the stock price of Stock B rounded off to two
decimal places when the stock price of Stock A is 14. [Select]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3d30fb31-a52c-48a3-9035-bc77e56a4f50%2F5f0eb2d3-087d-4b6a-a220-c3a87d7e7588%2Fvruqc8v_processed.jpeg&w=3840&q=75)
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- The National Highway Association is studying the relationship between the number of bidders on a highway project and the winning (lowest) bid for the project. Of particular interest is whether the number of bidders increases or decreases the amount of the winning bid. Bidders Price 9.0 5.1 9.0 8.0 3.0 9.7 10.0 7.8 5.0 7.7 10.0 5.5 7.0 8.3 11.0 5.5 6.0 10.3 6.0 8.0 4.0 8.8 7.0 9.4 7.0 8.6 7.0 8.1 6.0 7.8 Given: Correlation of Coefficient: 0.7064 (This is correct) Coefficient of determination: 49.90% (This is correct) ŷ = 11.2360 + (-0.4667)x (This is correct) Create a scatter plot of the data Complete a regression analysis of the relationship. Slope = ______ Estimate the winning bid if there were seven bidders. Winning bid cost ______ millions. Compute the 95% prediction interval for a winning bid if there are seven bidders. [ _____________, ______________]The National Highway Association is studying the relationship between the number of bidders on a highway project and the winning (lowest) bid for the project. Of particular interest is whether the number of bidders increases or decreases the amount of the winning bid. Bidders Price 9.0 5.1 9.0 8.0 3.0 9.7 10.0 7.8 5.0 7.7 10.0 5.5 7.0 8.3 11.0 5.5 6.0 10.3 6.0 8.0 4.0 8.8 7.0 9.4 7.0 8.6 7.0 8.1 6.0 7.8 GIVEN: correlation coefficient: - 0.7064 Slope: -0.4667 Coefficient of determination: 49.90% regression equation: ŷ= 11.2360 + (-4467)x FIND: Estimate the winning bid if there were seven bidders. Winning bid cost _________ millions. Explain. Compute the 95% prediction interval for a winning bid if there are seven bidders. [ _______________ , _______________ ] (Explain).A Hong Kong snack-food vendor offers 3 types of boxed ”lunches to go,” priced at $3, $5, and $10, respectively. The vendor would like to establish whether there is a relationship between the price of the boxed lunch and the number of sales achieved per hour. Consequently, over a 15-day period the vendor records the number of sales made for each of the 3 types of boxed lunches. The following data show the boxed-lunch price (x) and the number sold (y) during each of the 15 lunch hours.(3, 7) (5, 5) (10, 2) (3, 9) (5, 6) (10, 5) (3, 6) (5, 6)(10, 1) (3, 10) (5, 7) (10, 4) (3, 5) (5, 6) (10, 4)Prepare a scatter plot of the points and comment on the relationship between the price of the boxed lunches and the numbers sold each lunchtime.
- The Camera Shop sells two popular models of digital SLR cameras (Camera A Price: $200, Camera B Price: $300). The sales of these products are not independent of each other, but rather if the price of one increase, the sales of the other will increase. In economics, these two camera models are called substitutable products. The store wishes to establish a pricing policy to maximize revenue from these products. A study of price and sales data shows the following relationships between the quantity sold (N) and prices (P) of each model: NA = 198 - 0.5PA + 0.25PB NB = 305 + 0.07PA - 0.6PB Construct a model for the total revenue and implement it on a spreadsheet. Develop a two-way data table to estimate the optimal prices for each product in order to maximize the total revenue. Vary each price from $250 to $500 in increments of $10. Max revenue occurs at Camera A price of $ Max revenue occurs at Camera B price of $The Camera Shop sells two popular models of digital SLR cameras (Camera A Price: 240, Camera B Price: 300). The sales of these products are not independent of each other, but rather if the price of one increase, the sales of the other will increase. In economics, these two camera models are called substitutable products. The store wishes to establish a pricing policy to maximize revenue from these products. A study of price and sales data shows the following relationships between the quantity sold (N) and prices (P) of each model: NA = 195 - 0.5PA + 0.35PB NB = 300 + 0.06PA - 0.5PB Construct a model for the total revenue and implement it on a spreadsheet. Develop a two-way data table to estimate the optimal prices for each product in order to maximize the total revenue. Vary each price from $250 to $500 in increments of $10. Max profit occurs at Camera A price of $ . Max profit occurs at Camera B price of $Three market leaders in homeowners insurance in a state are State Farm, American Family Insurance Group, and Allstate. Based on data from a certain year, two relationships between the homeowners insurance percentage market shares are found to be as given below, where x, y, z, and w are the percentages of the market held by State Farm, American Family, Allstate, and other companies, respectively. x = −60 + 5y + z z = 11 − 2y + w Given that the four groups account for the entire market, obtain a third equation relating x, y, z, and w, and solve the associated system of three linear equations to show how the market shares of State Farm, American Family, and Allstate depend on the share held by other companies. (Express your answer in terms of w, where x = x(w), y = y(w), and z = z(w).)
- Three market leaders in homeowners insurance in a state are State Farm, American Family Insurance Group, and Allstate. Based on data from a certain year, two relationships between the homeowners insurance percentage market shares are found to be as given below, where x, y, z, and w are the percentages of the market held by State Farm, American Family, Allstate, and other companies, respectively. x = −54 + 5y + z z = 9 − 2y + w Given that the four groups account for the entire market, obtain a third equation relating x, y, z, and w, and solve the associated system of three linear equations to show how the market shares of State Farm, American Family, and Allstate depend on the share held by other companies. (Express your answer in terms of w, where x = x(w), y = y(w), and z = z(w).) (x, y, z) = Which of the three companies' market share is most affected by the share held by other companies?Three market leaders in homeowners insurance in a state are State Farm, American Family Insurance Group, and Allstate. Based on data from a certain year, two relationships between the homeowners insurance percentage market shares are found to be as given below, where x, y, z, and w are the percentages of the market held by State Farm, American Family, Allstate, and other companies, respectively. x = −86 + 5y + z z = 18− 2y + w Given that the four groups account for the entire market, obtain a third equation relating x, y, z, and w, and solve the associated system of three linear equations to show how the market shares of State Farm, American Family, and Allstate depend on the share held by other companies. (Express your answer in terms of w, where x = x(w), y = y(w), and z = z(w).) (x, y, z) =Three market leaders in homeowners insurance in a state are State Farm, American Family Insurance Group, and Allstate. Based on data from a certain year, two relationships between the homeowners insurance percentage market shares are found to be as given below, where x, y, z, and w are the percentages of the market held by State Farm, American Family, Allstate, and other companies, respectively. x = −42 + 5y + z z = 5 − 2y + w Given that the four groups account for the entire market, obtain a third equation relating x, y, z, and w, and solve the associated system of three linear equations to show how the market shares of State Farm, American Family, and Allstate depend on the share held by other companies. (Express your answer in terms of w, where x = x(w), y = y(w), and z = z(w).) (x, y, z) =( ) Which of the three companies' market share is most affected by the share held by other companies? State FarmAmerican Family Insurance Group Allstate
