(a) Develop an estimated regression equation using trede price and speed of execution to predict the overall satisfaction with the broker. (Round your numerical values to four decimal pleces.) Interpret the coefficient of determination. (Round your answer to two decimal places.) This regresion model exolains epproximately of the variation in the velues of uverall satisfaction in the sampie. (b) Use the i test to determine the significenca of each independent varieble. Test whether the regression parameter , s equal to zero. Find the p-vnlue. (Round your answer to four decimal pinces.) p-value - | What is the conclusion for the test at the 0.05 laval of significanca? O we fall to reject Ng. We cannot conclude thet there is a relationship between satistaction with trade price and overal satisfaction with the electronic trade. O We fail to reject N. We can conduce that there is a relationship between satisfaction with trade price and overall satisfaction with the electronic trade. O we reject . We cannot conclude that there is a relationship between satisfaction with trade price and averall satisfaction with the electronic trade. O We reject Mg. We can conclude that there is a relationship between satisfaction with trade price and overal satisfection with the eloctronic treda. Test whether the ragrassion parametar As equal to zero. Find the p-valua. (Round your anawer to four decimal places.) p-value = What is the condusion for the test at the 0.05 evel of signiicance? O Wa fail to rejact N, We can conduce that there is a relationship batween satisfaction with spoed af axacution and avarall satisfaction with the dectranik trade. O Wa raject H, We cannot concude that there is a relationship botween satisfaction with speed of execution and avorall satisfaction with the clectronic trade. O We reject Ma, We can corclude that there is a relotiormhip between setisfection with apeed of eeution and overall setisfaction with the electrunic trade. O We fall to reject He We cannot conclude that there is a relationship between satisfactkon with speed of exooution and overal satistaction with the electroric trade. (e) Interpret the estimated regression paremeters. (e) Interpret the estinated regression parameters A, ls our estimate of the overall satisfaction with the electronk trade when satisfaction with trade prke and satisfaction with speed of axccution are both Sulect v., is our estimate of change in overal satisfaction with the electronic trade if we hoid satisfaction with Selact estimate of change in averall satisfaction with the electronic trade if we hakd satisfaction with-Seec -Select v constant and have a 1 point increase in satisfaction withSalogt constant and have a 1 point inerease in satisfaction with s our Are the reiationshps indicated by these estimates what you weuld expect? O ves O No

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter1: Expressions And Functions
Section1.5: Descriptive Modeling And Accuracy
Problem 11PPS
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An investors association's on-line discount broker survey polls members on their experiences with electronic trades handled by discount brokers. As part of the survey, members were asked to rate
their satisfaction with the trade price and the speed of execution, as well as provide an overall satisfaction rating. Possible responses (scores) were no opinion (0), unsatisfied (1), somewhat
satisfied (2), satisfied (3), and very satisfied (4). For each broker, summary scores were computed by computing a weighted average of the scores provided by each respondent. A portion of the
survey results follow. (Let x, represent satisfaction with trade price, x, represent satisfaction with speed of execution, and y represent overall satisfaction with electronic trades.)
Brokerage
Satisfaction with Trade Price
Satisfaction with Speed of Execution
Overall Satisfaction with Electronic Trades
Brokerage 1
3.3
3.5
3.4
Brokerage 2
3.3
3.2
3.3
Brokerage 3
3.0
3.5
3.9
Brokerage 4
3.0
3.5
3.6
Brokerage 5
2.8
3.1
2.8
Brokerage 6
2.4
3.3
2.8
Brokerage 7
2.5
3.9
2.9
Brokerage 8
2.3
3.7
3.7
Brokerage 9
2.7
2.5
2.5
Brokerage 10
2.4
2.6
2.2
Brokerage 11
3.6
4.0
4.0
Brokerage 12
2.6
2.4
2.4
Brokerage 13
3.1
3.1
4.0
Brokerage 14
4.0
1.1
1.9
(a) Develop an estimated regression equation using trade price and speed of execution to predict the overall satisfaction with the broker. (Round your numerical values to four decimal places.)
Transcribed Image Text:You may need to use the appropriate technology to answer this question. An investors association's on-line discount broker survey polls members on their experiences with electronic trades handled by discount brokers. As part of the survey, members were asked to rate their satisfaction with the trade price and the speed of execution, as well as provide an overall satisfaction rating. Possible responses (scores) were no opinion (0), unsatisfied (1), somewhat satisfied (2), satisfied (3), and very satisfied (4). For each broker, summary scores were computed by computing a weighted average of the scores provided by each respondent. A portion of the survey results follow. (Let x, represent satisfaction with trade price, x, represent satisfaction with speed of execution, and y represent overall satisfaction with electronic trades.) Brokerage Satisfaction with Trade Price Satisfaction with Speed of Execution Overall Satisfaction with Electronic Trades Brokerage 1 3.3 3.5 3.4 Brokerage 2 3.3 3.2 3.3 Brokerage 3 3.0 3.5 3.9 Brokerage 4 3.0 3.5 3.6 Brokerage 5 2.8 3.1 2.8 Brokerage 6 2.4 3.3 2.8 Brokerage 7 2.5 3.9 2.9 Brokerage 8 2.3 3.7 3.7 Brokerage 9 2.7 2.5 2.5 Brokerage 10 2.4 2.6 2.2 Brokerage 11 3.6 4.0 4.0 Brokerage 12 2.6 2.4 2.4 Brokerage 13 3.1 3.1 4.0 Brokerage 14 4.0 1.1 1.9 (a) Develop an estimated regression equation using trade price and speed of execution to predict the overall satisfaction with the broker. (Round your numerical values to four decimal places.)
(a) Devekop an estimated regression equation using trede price and speed of execution to predict the overall satisfaction with the broker. (Round your numerical values to four decimal pleces.)
Interpret the coeffidient of determination. (Round your answer to two decimal places.)
This regressikon model explains approximately
|% of the variation in the velues of overall setisfaction in the sample.
(b) Use the e test to determine the significence cf each independent varieble
Test whether the regression parameter , s equal to zero.
Find the p-value. (Round your answer to four decimal places.)
p-value -
What is the conclusion for the test at the 0.05 lavel of significanca?
O we tail to reject Ne We cannot conclude thet there is a reletionship between satistaction with trade price and overal satistaction with the electronic trade.
O We fail to reject He We can condude that there is e relationship between satisfaction with trade price and overall satisfaction with the electronic trade.
O we reject H, We cannot conclude that there is a relationship between satisfaction with trade price and averall satisfaction with the electronic trade.
O We reject Hg. We can conclude that there is a relationship between satisfaction with trade price and overal satisfaction with the elactronic trade.
Test whether the ragression parameter s equal to zero.
Find the p-value. (Round your answer to four decimal places.)
p-value =
What is the conclusion for the test at the 0.05 level of significance?
O Wa fail to rejact H. We can condude that there is a relationship between satisfaction with spoed of axacution and overall satisfaction with the dectranic trade.
O We reject H. We cannot condude that there is a relationship botween satisfaction with spoed of execution and overall satisfaction with the clectronic trade.
O We reject H, We can conclude that there is a reletiorahip between setisfaction with speed of ececution and overall setisfaction with the electronic trade.
O We fall to reject H. We cannot conclude that there is a relationship between satisfaction with speed of execution and overall satistaction with the electroric trade.
(c) Interpret the estimated regression parameters.
(e) Interpret the estimated regression parameters.
A. is our estimate of the overall satisfaction with the electronkc trace when satisfaction with trade prike and satisfaction with speed of aKccution are both-Soloct . d, is our estimate of
change in overall satisfaction with the clectronic trade if we hold satisfaction with Seloct
estimane ef change in averall satisfaction with the electranic trade if we hald satisfaction with -Seec
-Select
v constant and have a 1 point increase in satisfaction withSoloct
constant and have a 1 point inerease in satisfaction with
s our
Are the relationships indicated by these estimates what you would expect?
O ves
O No
(d) An investment company has developed a new ekctronic trading system and would like to predict overall customer satisfaction assuming they can provide satisfactory service leveis (3) for
both trade price and speed of execution. Use the estimated regression equation developed in part (a) to predict the overall satisfaction level for the investment company ir they can achieve
these performance levels. (Round your answer to one decimal place.)
(e) What concerms (If any) do you have with regard to the possible responses the respondents could select on the survey?
This answer haa not bean gradad yat.
Transcribed Image Text:(a) Devekop an estimated regression equation using trede price and speed of execution to predict the overall satisfaction with the broker. (Round your numerical values to four decimal pleces.) Interpret the coeffidient of determination. (Round your answer to two decimal places.) This regressikon model explains approximately |% of the variation in the velues of overall setisfaction in the sample. (b) Use the e test to determine the significence cf each independent varieble Test whether the regression parameter , s equal to zero. Find the p-value. (Round your answer to four decimal places.) p-value - What is the conclusion for the test at the 0.05 lavel of significanca? O we tail to reject Ne We cannot conclude thet there is a reletionship between satistaction with trade price and overal satistaction with the electronic trade. O We fail to reject He We can condude that there is e relationship between satisfaction with trade price and overall satisfaction with the electronic trade. O we reject H, We cannot conclude that there is a relationship between satisfaction with trade price and averall satisfaction with the electronic trade. O We reject Hg. We can conclude that there is a relationship between satisfaction with trade price and overal satisfaction with the elactronic trade. Test whether the ragression parameter s equal to zero. Find the p-value. (Round your answer to four decimal places.) p-value = What is the conclusion for the test at the 0.05 level of significance? O Wa fail to rejact H. We can condude that there is a relationship between satisfaction with spoed of axacution and overall satisfaction with the dectranic trade. O We reject H. We cannot condude that there is a relationship botween satisfaction with spoed of execution and overall satisfaction with the clectronic trade. O We reject H, We can conclude that there is a reletiorahip between setisfaction with speed of ececution and overall setisfaction with the electronic trade. O We fall to reject H. We cannot conclude that there is a relationship between satisfaction with speed of execution and overall satistaction with the electroric trade. (c) Interpret the estimated regression parameters. (e) Interpret the estimated regression parameters. A. is our estimate of the overall satisfaction with the electronkc trace when satisfaction with trade prike and satisfaction with speed of aKccution are both-Soloct . d, is our estimate of change in overall satisfaction with the clectronic trade if we hold satisfaction with Seloct estimane ef change in averall satisfaction with the electranic trade if we hald satisfaction with -Seec -Select v constant and have a 1 point increase in satisfaction withSoloct constant and have a 1 point inerease in satisfaction with s our Are the relationships indicated by these estimates what you would expect? O ves O No (d) An investment company has developed a new ekctronic trading system and would like to predict overall customer satisfaction assuming they can provide satisfactory service leveis (3) for both trade price and speed of execution. Use the estimated regression equation developed in part (a) to predict the overall satisfaction level for the investment company ir they can achieve these performance levels. (Round your answer to one decimal place.) (e) What concerms (If any) do you have with regard to the possible responses the respondents could select on the survey? This answer haa not bean gradad yat.
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At the .01 level, is the overall regression significant? Explain by showing the relevant value(s)

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