Below shows the advertising costs and corresponding sales of JBC Holdings for 10 years Advertising Costs(In Million Pesos) Sales(In Million Pesos) 7.4 7.5 8.5 9.0 9.0 11.0 13.0 14.0 14.5 16.0 30.0 25.0 31.5 27.5 39.5 38.0 43.2 49.0 55.0 48.5 Estimate the regression line. A. Y = 6.375 + 2.943x B. Y = 6.375 - 2.943x C. Y = 2.943 + 6.375x D. Y = 2.943 - 6.375x
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Below shows the advertising costs and corresponding sales of JBC Holdings for 10 years
Advertising Costs(In Million Pesos) |
Sales(In Million Pesos) |
7.4 7.5 8.5 9.0 9.0 11.0 13.0 14.0 14.5 16.0 |
30.0 25.0 31.5 27.5 39.5 38.0 43.2 49.0 55.0 48.5 |
Estimate the regression line.
A. |
Y = 6.375 + 2.943x |
|
B. |
Y = 6.375 - 2.943x |
|
C. |
Y = 2.943 + 6.375x |
|
D. |
Y = 2.943 - 6.375x |
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Solved in 2 steps
- Predict the annual salary in dollars for females who are at least 25 years old with 15 years of education.Years of Education 18 16 14 12 10 15 13 18 12 16 16Annual Salary (in Dollars) 52,866 40,393 27,062 21,427 14,470 41,010 31,376 79,962 21,387 39,925 57,815 You need to use regression equation and regression line if neededSarah is the office manager for a group of financial advisors who provide financial services for individual clients. She would like to investigate whether a relationship exists between the number of presentations made to prospective clients in a month and the number of new clients per month. The following table shows the number of presentations and corresponding new clients for a random sample of six employees. Employee Presentations New Clients 1 7 2 2 9 3 3 9 4 4 10 3 5 11 5 6 12 3 Sarah would like to use simple regression analysis to estimate the number of new clients per month based on the number of presentations made by the employee per month. The expected number of new clients per month for an employee who made 10 presentations per month is ________. 2.3982 1.6753 3.0521 3.4348Bill is the office manager for a group of financial advisors who provide financial services for individual clients. She would like to investigate whether a relationship exists between the number of presentations made to prospective clients in a month and the number of new clients per month. The following table shows the number of presentations and corresponding new clients for a random sample of six employees. Employee Presentations New Clients 1 2 1 2 8 2 3 9 4 4 10 3 5 11 5 6 12 6 Bill would like to use simple regression analysis to estimate the number of new clients per month based on the number of presentations made by the employee per month. The average number of new clients per month for an employee who made 20 presentations per month is ________. 5.02 5.45 3.43 8.69
- The following table lists the monthly incomes (in hundreds of dollars) and the monthly rents paid (in hundreds of dollars) by a sample of six families. Monthly Income Monthly Rent 24 7.0 16 4.5 19 6.5 31 11.6 10 4.5 27 8.5 4. The null hypothesis is that the slope of the population regression line of monthly rent on monthly income is zero and the alternative hypothesis is that the slope of this population regression line is greater than zero. The significance level is 1%. By hand, test whether the slope of the monthly income is greater than zero using the CV approach, including identifying the reject/non reject regions, etcThe following table lists the monthly incomes (in hundreds of dollars) and the monthly rents paid (in hundreds of dollars) by a sample of six families. Monthly Income Monthly Rent 24 7.0 16 4.5 19 6.5 31 11.6 10 4.5 27 8.5 1.The 99% confidence interval for the slope, B, of the population regression line is (2 decimals): __________________________________________ 2. The null hypothesis is that the slope of the population regression line of monthly rent on monthly income is zero and the alternative hypothesis is that the slope of this population regression line is greater than zero. The significance level is 1%. What is the critical value of t (3 decimals)? __________________________________________ 3. The null hypothesis is that the slope of the population regression line of monthly rent on monthly income is zero and the alternative hypothesis is that the slope of this population regression line is greater than zero. The significance level is 1%. What is…Sarah is the office manager for a group of financial advisors who provide financial services forindividual clients. She would like to investigate whether a relationship exists between the numberof presentations made to prospective clients in a month and the number of new clients per month.The following table shows the number of presentations and corresponding new clients for aa random sample of six employees.Employee Presentations New Clients1 7 22 9 33 9 44 10 35 11 56 12 3Sarah would like to use simple regression analysis to estimate the number of new clients permonth based on the number of presentations made by the employee per month. The test statisticfor testing the hypothesis that the population coefficient of determination is greater than zero is________. A) 1.03 B) 1.45 C) -1.16 D) 0.35
- If there is no significant correlation between the response and explanatory variables, would the slope of the regression line be (a) positive (b) negative (c) zero?Suppose you would like to estimate Y= B1 + B2 X + B3 Z + u model using data from 40 firms. Suppose you are to perform Breuch-Pagan (LM type test) for homoscedasticity, define the auxiliary regression? Further suppose that you find R-squared from the auxiliary regression to be 0.85, carry out B-P test for homoscedasticity at %5 level of significance and interpret the result (Set the hypotheses).A paper suggests that the simple linear regression model is reasonable for describing the relationship between y = eggshell thickness (in micrometers, µm) and x = egg length (mm) for quail eggs. Suppose that the population regression line is y = 0.185 + 0.007x and that ?e = 0.005. Then, for a fixed x value, y has a normal distribution with mean 0.185 + 0.007x and standard deviation 0.005. (You may need to use a table.) b)What is the probability that a quail egg with a length of 15 mm will have a shell thickness that is greater than 0.29 µm? (c)Approximately what proportion of quail eggs of length 14 mm have a shell thickness of greater than 0.281? (Hint: The distribution of y at a fixed x is approximately normal. Round your answer to four decimal places.) Approximately what proportion of quail eggs of length 14 mm have a shell thickness of less than 0.286? (Round your answer to four decimal places.)
- A researcher wants to forecast the annual sales of Walmart, based on store size. To examine the relationship between the store size in square feet and its annual sales in million dollars, a sample of 14 stores was selected shown below in the image: Answer the following: i) Null hypothesis of correlation ii) Coefficient of Correlation and its interpretation iii) Interpret the sig value of ANOVA. iv) Coefficient of Determination and its interpretation v) Write down the Regression Model. vi) Interpret the value of ‘a’ vii) Interpret the value of ‘slope’In order to determine a realistic price for a new product that a company wants to market the company’s research department selected 10 sites thought to have essentially identical sales potential and offered the product in each at a different price. The resulting sales are recorded in the accompanying table: Price ($) Sales ($1,000s) 15.00 15 15.50 14 16.00 16 16.50 9 17.00 12 17.50 10 18.00 8 18.50 9 19.00 6 19.50 5 c). Find the equation of the sample regression line using Minitab. d). Interpret the meaning of the coefficients of the equation of the sample regression line.The owner of Maumee Ford-Mercury-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at the dealership during the last year. Car Age Price 1 10 10.8 2 6 9.1 3 12 4.3 4 16 5 5 8 5.1 6 7 11.5 7 9 11.6 8 13 8 9 12 8 10 16 3.9 11 4 12.8 12 4 11.1 Determine the regression equation. (Negative value should be indicated by a minus sign. Round your answers to 3 decimal places.) a= 14.010 b= ? Estimate the selling price of a 9-year-old car (in $000). (Round your answer to 3 decimal places.) So for each additional year, the car price decreases 8.862 in value. Interpret the regression equation (in dollars). (Round your answer to the nearest dollar amount.) For each additional year, the car price decreases $_____ in value.