a. Develop the least square regression equation for these variables. Plot the regression line on the scatter plot. b. Develop a 95% confidence interval estimate for the increase in sales resulting from increasing the advertising budget by S1. Interpret the interval. C. Discuss whether it is appropriate to interpret the intercept value of this model. Under what conditions is it appropriate? Discuss.

a. Develop the least square regression equation for these variables. Plot the regression line on the scatter plot. b. Develop a 95% confidence interval estimate for the increase in sales resulting from increasing the advertising budget by S1. Interpret the interval. C. Discuss whether it is appropriate to interpret the intercept value of this model. Under what conditions is it appropriate? Discuss.

Name: Develop the least square regression equation for these variables. Plo
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Description: Develop the least square regression equation for these variables. Plot the regression line on thescatter plot.a.b. Develop a 95% confidence interval estimate for the increase in sales resulting from increasing theadvertising budget by $1. Interpret

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter3: Straight Lines And Linear Functions

Section3.CR: Chapter Review Exercises

Problem 12CR: Marginal Tax Rate The following table shows tax due for the given taxable income level for a single...

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Monthly Household Spending ($) Annual Household Income ($) HouseholdSize 4,016 54000 3 3,159 30000 2 5,100 32000 4 4,742 50000 5 1,864 31000 2 4,070 55000 2 2,731 37000 1 3,348 40000 2 4,764 66000 4 4,110 51000 3 4,208 25000 3 4,219 48000 4 2,477 27000 1 2,514 33000 2 4,214 65000 3 4,965 63000 4 4,412 42000 6 2,448 21000 2 2,995 44000 1 4,171 37000 5 5,678 62000 6 3,623 21000 3 5,301 55000 7 3,020 42000 2 4,828 41000 7 5,573 54000 6 2,583 30000 1 3,866 48000 2 3,586 34000 5 5,037 67000 4 3,605 50000 2 5,345 67000 5 5,370 55000 6 3,890 52000 2 4,705 62000 3 4,157 64000 2 3,579 22000 3 3,890 29000 4 2,972 39000 2 3,121 35000 1 4,183 39000 4 3,730 54000 3 4,127 23000 6 2,921 27000 2 4,603 26000 7 4,273 61000 2 3,067 30000 2 3,074 22000 4 4,820 46000 5 5,149 66000 4 Use Excel’s Data Analysis tool to conduct a multiple regression analysis with annual income and household size as…
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Income($1000s) HouseholdSize AmountCharged ($) 54 3 4,016 30 2 3,159 32 4 5,100 50 5 4,742 31 2 1,864 55 2 4,070 37 1 2,731 40 2 3,348 66 4 4,764 51 3 4,110 25 3 4,208 48 4 4,219 27 1 2,477 33 2 2,514 65 3 4,214 63 4 4,965 42 6 4,412 21 2 2,448 44 1 2,995 37 5 4,171 62 6 5,678 21 3 3,623 55 7 5,301 42 2 3,020 41 7 4,828 54 6 5,573 30 1 2,583 48 2 3,866 34 5 3,586 67 4 5,037 50 2 3,605 67 5 5,345 55 6…
South Shore Construction builds permanent docks and seawalls along the southern shore of Long Island, New York. Although the firm has been in business only five years, revenue has increased from $308,000 in the first year of operation to $1,084,000 in the most recent year. The following data show the quarterly sales revenue in thousands of dollars. Quarter Year 1 Year 2 Year 3 Year 4 Year 5 1 20 37 75 92 176 2 100 136 155 202 282 3 175 245 326 384 445 4 13 26 48 82 181 Let Period = 1 refer to the observation in quarter 1 of year 1; Period = 2 refer to the observation in quarter 2 of year 1; ... and Period = 20 refer to the observation in quarter 4 of year 5. Using the dummy variables (Qtr1 = 1 if quarter 1, 0 otherwise; Qtr2 = 1 if quarter 2, 0 otherwise; Qtr3 = 1 if quarter 3, 0 otherwise) and the variable Period, develop an equation to account for seasonal effects and any linear trend in the time series. Based on the seasonal effects…
South Shore Construction builds permanent docks and seawalls along the southern shore of Long Island, New York. Although the firm has been in business only five years, revenue has increased from $308,000 in the first year of operation to $1,084,000 in the most recent year. The following data show the quarterly sales revenue in thousands of dollars. Quarter Year 1 Year 2 Year 3 Year 4 Year 5 1 20 37 75 92 176 2 100 136 155 202 282 3 175 245 326 384 445 4 13 26 48 82 181 Let Period = 1 refer to the observation in quarter 1 of year 1; Period = 2 refer to the observation in quarter 2 of year 1; ... and Period = 20 refer to the observation in quarter 4 of year 5. Using the dummy variables (Qtr1 = 1 if quarter 1, 0 otherwise; Qtr2 = 1 if quarter 2, 0 otherwise; Qtr3 = 1 if quarter 3, 0 otherwise) and the variable Period, develop an equation to account for seasonal effects and any linear trend in the time series. Estimate MSE using the model…
South Shore Construction builds permanent docks and seawalls along the southern shore of Long Island, New York. Although the firm has been in business only five years, revenue has increased from $304,000 in the first year of operation to $1,094,000 in the most recent year. The following data show the quarterly sales revenue in thousands of dollars. Quarter Year 1 Year 2 Year 3 Year 4 Year 5 1 25 28 68 94 179 2 90 138 151 199 274 3 176 255 324 385 451 4 13 18 42 74 190
Data: Household Amount Income 1 555 4392 2 489 4562 3 458 4797 4 613 4860 5 647 4860 6 661 4903 7 662 4903 8 675 5095 9 549 5137 10 606 5308…
Average Tuition and Fees in 2014 Dollars 2000-2015 Academic Year Public 4-year Public 2-year 00-01 $4,837 $2,264 01-02 $5,055 $2,158 02-03 $5,241 $2,214 03-04 $6,018 $2,473 04-05 $6,448 $2,615 05-06 $6,696 $2,660 06-07 $6,795 $2,653 07-08 $7,081 $2,624 08-09 $7,148 $2,580 09-10 $7,825 $2,842 10-11 $8,337 $2,997 11-12 $8,728 $3,135 12-13 $8,991 $3,280 13-14 $9,062 $3,306 14-15 $9,139 $3,347 Tuition and fees at public four-year and public two-year institutions from 2000-2015 are shown in the table and the graph above. Values have been adjusted to 2014 dollars to account for inflation. a. What is the absolute change in tuition and fees at public four-year institutions from 2000-01 to 2014-15? b. Calculate the relative change in tuition and fees at public four-year institutions from 2000-01 to 2014-15. Round to the nearest whole percentage point.
winning time (minutes)(minutes) year men women 1966 137.18 201.67 1967 135.75 207.28 1968 142.28 210.00 1969 133.82 202.77 1970 130.50 185.12 1971 138.75 188.50 1972 135.65 190.43 1973 136.05 185.98 1974 133.65 167.18 1975 129.92 162.40 1976 140.32 167.17 1977 134.77 168.55 1978 130.22 164.87 1979 129.45 155.25 1980 132.18 154.47 1981 129.43 146.77 1982 128.87 149.55 1983 129.00 142.72 1984 130.57 149.47 1985 134.08 154.10 1986 127.85 144.92 1987 131.83 145.35 1988 128.72 144.50 1989 129.10 144.55 1990 128.32 145.40 1991 131.10 144.30 1992 128.23 143.72 1993 129.55 145.45 1994 127.25 141.75 1995 129.37 145.18 1996 129.25 147.20 1997 130.57 146.38 1998 127.57 143.35 1999 129.87 143.42 2000 129.78 146.18 2001 129.72 143.88 2002 129.03 140.72 2003 130.18 145.32 2004 130.62 144.45 2005 131.73 145.20 2006 127.23 143.63 2007 134.22 149.30 2008 127.75 145.42 2009 128.70 152.27 2010 125.87 146.18 2011…
Given information: Monthly Household Spending ($) Annual Household Income ($) HouseholdSize 4016 54000 3 3159 30000 2 5100 32000 4 4742 50000 5 1864 31000 2 4070 55000 2 2731 37000 1 3348 40000 2 4764 66000 4 4110 51000 3 4208 25000 3 4219 48000 4 2477 27000 1 2514 33000 2 4214 65000 3 4965 63000 4 4412 42000 6 2448 21000 2 2995 44000 1 4171 37000 5 5678 62000 6 3623 21000 3 5301 55000 7 3020 42000 2 4828 41000 7 5573 54000 6 2583 30000 1 3866 48000 2 3586 34000 5 5037 67000 4 3605 50000 2 5345 67000 5 5370 55000 6 3890 52000 2 4705 62000 3 4157 64000 2 3579 22000 3 3890 29000 4 2972 39000 2 3121 35000 1 4183 39000 4 3730 54000 3 4127 23000 6 2921 27000 2 4603 26000 7 4273 61000 2 3067 30000 2 3074 22000 4 4820 46000 5 5149 66000 4 EXCEL (Data Analysis) output: SUMMARY OUTPUT Regression Statistics Multiple R 0.908603921 R…