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, etc

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, etc

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.6: Regression And Median-fit Lines

Problem 4GP

See similar textbooks

Similar questions

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 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…
Bill 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
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 ($1,000s) 15.00 15 15.50 14 16.00 16 16.50 9 17.00 12 17.50 10 18.00 8 18.50 9 19.00 6 19.50 5 c). Find the equation of the sample regression line using Minitab. d). Interpret the meaning of the coefficients of the equation of the sample regression line.
Suppose that x and y are two variables of a population and that the assumptions for regression inferences are met with x as the predictor variable and y as the response variable. a. What statistic is used to estimate the slope of the population regression line? b. What statistic is used to estimate the y-intercept of the population regression line? c. What statistic is used to estimate the common conditional standard deviation of the response variable corresponding to fixed values of the predictor variable?
The average asking rent for 10 markets, and the corresponding monthly mortgage on the median priced home (including taxes and insurance) for 10 cities are given in Rent ($) Mortgage ($) City 1 840 539 City 2 1062 1002 City 3 823 626 City 4 779 711 City 5 796 655 City 6 1071 977 City 7 953 776 City 8 851 695 City 9 762 651 City 10 723 654 What is the simple linear regression model to predict the monthly mortgage on the median priced home, using average asking rent? Fill in the coefficient for the LINEAR independent variable (keep 2 decimal points).
Using the regression line attached. Based on only the above plot, one can conclude: a) height causes an increase in weight b) weight causes an increase in height c) taller people are more likely to weigh more than shorter people, at least in the sample on which this data is based d) a statistically significant predictive relationship between height and weight e) c and d
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?
Sarah 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 3.4348
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
What are the assumptions of simple linear regression (and as a consequence the pearson’s r correlation)?
If the standard error of the estimate for a regression model fitted to a large number of paired observations is 1.75, approximately 95% of the residuals would lie within ______. −3.50 and +3.50 −1.75 and +1.75 −0.95 and +0.95 −0.68 and +0.68 −0.97 and +0.97
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.