The local utility company surveys 19 randomly selected customers. For each survey participant, thecompany collects the following: annual electric bill (in dollars) and home size (in square feet). Output froma regression analysis is as follows: bill 11.45 +3.26 size.Coefficients Estimate Std. Error(Intercept)Size11.453.260.830.35Round your answer to three decimal places, and round any interim calculations to four decimal places.We are 99% confident that the mean annual electric bill increases by betweendollars for every additional square foot in home size.dollars and

Answered: The local utility company surveys 19…

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter4: Linear Functions

Section: Chapter Questions

Problem 30PT: For the following exercises, use Table 4 which shows the percent of unemployed persons 25 years or...

See similar textbooks

Similar questions

For the following exercises, use Table 4 which shows the percent of unemployed persons 25 years or older who are college graduates in a particular city, by year. Based on the set of data given in Table 5, calculate the regression line using a calculator or other technology tool, and determine the correlation coefficient. Round to three decimal places of accuracy
A ski resort asked a random sample of guests to rate their satisfaction on various attributes of their visit on a scale of 1–5 with 1 = very unsatisfied and 5 = very satisfied. The estimated regression model was Y = overall satisfaction score, X1 = lift line wait, X2 = amount of ski trail grooming, X3 = safety patrol visibility, and X4 = friendliness of guest services. Predictor Coefficient Intercept 2.9018 LiftWait 0.1642 AmountGroomed 0.2343 SkiPatrolVisibility 0.0602 FriendlinessHosts −0.1193 (a) Write the fitted regression equation. (Round your answers to 4 decimal places. Negative values should be indicated by a minus sign.) yˆy^ = + * LiftWait + * AmountGroomed + * SkiPatrolVisibility + * FriendlinessHosts (b) Interpret each coefficient. Overall satisfaction (Click to select) increases decreases remains same with an increase in satisfaction for each individual predictor except for friendliness of hosts.(c) Would the intercept seem to…
A ski resort asked a random sample of guests to rate their satisfaction on various attributes of their visit on a scale of 1–5 with 1 = very unsatisfied and 5 = very satisfied. The estimated regression model was Y = overall satisfaction score, X1 = lift line wait, X2 = amount of ski trail grooming, X3 = safety patrol visibility, and X4 = friendliness of guest services. Predictor Coefficient Intercept 2.9833 LiftWait 0.1458 AmountGroomed 0.2562 SkiPatrolVisibility 0.0428 FriendlinessHosts −0.1298 (a) Write the fitted regression equation. (Round your answers to 4 decimal places. Negative values should be indicated by a minus sign.) yˆy^ = + * LiftWait + * AmountGroomed + * SkiPatrolVisibility + * FriendlinessHosts (b) Interpret each coefficient. Overall satisfaction increases with an increase in satisfaction for each individual predictor except for friendliness of hosts. (d) Make a prediction for Overall Satisfaction when a guest’s satisfaction in…
A ski resort asked a random sample of guests to rate their satisfaction on various attributes of their visit on a scale of 1–5 with 1 = very unsatisfied and 5 = very satisfied. The estimated regression model was Y = overall satisfaction score, X1 = lift line wait, X2 = amount of ski trail grooming, X3 = safety patrol visibility, and X4 = friendliness of guest services. Predictor Coefficient Intercept 2.7115 LiftWait 0.1474 AmountGroomed 0.2517 SkiPatrolVisibility 0.0656 FriendlinessHosts −0.1172 (a) Write the fitted regression equation. (Round your answers to 4 decimal places. Negative values should be indicated by a minus sign.) yˆy^ = ?? + ?? * LiftWait + ?? * AmountGroomed + ?? * SkiPatrolVisibility + ?? * FriendlinessHosts (b) Interpret each coefficient. Overall satisfaction increases Correctwith an increase in satisfaction for each individual predictor except for friendliness of hosts.(c) Would the intercept seem to have meaning in this…
Given below are results from the regression analysis where the dependent variable is the number of weeks a worker is unemployed due to a layoff (Unemploy) and the independent variables are the age of the worker (Age), the number of years of education received (Edu), the number of years at the previous job (Job Yr), a dummy variable for marital status (Married: 1=married, 0=otherwise), a dummy variable for head of household (Head: 1=yes, 0=no) and a dummy variable for management position (Manager: 1=yes, 0=no). We shall call this Model 1. The coefficient of partial determination (R2Yj.(All variables except j)) of each of the six predictors are, respectively, 0.2807, 0.0386, 0.0317, 0.0141, 0.0958, and 0.1201. Model 2 is the regression analysis where the dependent variable is Unemploy and the independent variables are Age and Manager. The results of the regression analysis are given. Refer to model 1. Which of the following is the correct null hypothesis to test…
Suppose a commercial developer in Vereeniging consider to purchase a group of small office buildings in an established business district. He uses multiple linear regression analysis, which was based on a sample of 35 office buildings, to estimate the value of an office building in a given area based on the following variables. Y = Assessed value of the office building (in Rand) X1= Floor space in square meters X2= Number of offices X3= Age of the office building in years Answer the questions that follow by typing only the letter of the correct option (A, B, C, D or E) in the answer spaces provided. Variablesy: Valuex1: Floor Spacex2: Officesx3: Age Model Fitting StatisticsR^2 = 0.9752Adj R^2: ? Regression Coefficients Beta Parameter Standard b Parameter Standard Estimates Error of Beta Estimates Error of b t Statistic Prob > |t|Intcpt…
The following model was fitted to a sample of 30 families in order to explain household milk consumption:y = b0 + b1x1 + b2x2 + ε wherey = milk consumption, in quarts per weekx1 = weekly income, in hundreds of dollarsx2 = family sizeThe least squares estimates of the regression parameters were as follows:b0 = -0.025 b1 = 0.052 b2 = 1.14Predict the weekly milk consumption of a family of four with an income of $600 per week.
Suppose that a kitchen cabinet warehouse company would like to be able to predict the area of a customer’s kitchen using the number of cabinets and the kitchen ceiling height. To do so data is collected on the following variables from a random sample of customers: Area – area of the kitchen in square feet Height – ceiling height in the kitchen (from floor to ceiling) in inches Cabinets – number of cabinets in the kitchen Suppose that a multiple linear regression model was fit to the data and that the following output resulted: Coefficients: (Intercept)HeightCabinets Estimate-57.98771.2760.3393 Std. Error8.63820.26430.1302 t value -6.7134.8282.607 Pr(>|t|)2.75e-074.44e-050.0145 What is the predicted area of a kitchen with a height of 96 inches and 10 cabinets? Report your answer to 1 decimal place. square feet
Suppose that a kitchen cabinet warehouse company would like to be able to predict the area of a customer’s kitchen using the number of cabinets and the kitchen ceiling height. To do so data is collected on the following variables from a random sample of customers: Area – area of the kitchen in square feet Height – ceiling height in the kitchen (from floor to ceiling) in inches Cabinets – number of cabinets in the kitchen Suppose that a multiple linear regression model was fit to the data and that the following output resulted: Coefficients: (Intercept)HeightCabinets Estimate-57.98771.2760.3393 Std. Error8.63820.26430.1302 t value -6.7134.8282.607 Pr(>|t|)2.75e-074.44e-050.0145 10 Question 10 This is not a form; we suggest that you use the browse mode and read all parts of the question carefully. Which of the following is the correct interpretation of the coefficient for Cabinets? For a kitchen with a given ceiling height, the average number of cabinets…
Suppose that a kitchen cabinet warehouse company would like to be able to predict the area of a customer’s kitchen using the number of cabinets and the kitchen ceiling height. To do so data is collected on the following variables from a random sample of customers: Area – area of the kitchen in square feet Height – ceiling height in the kitchen (from floor to ceiling) in inches Cabinets – number of cabinets in the kitchen Suppose that a multiple linear regression model was fit to the data and that the following output resulted: Coefficients: (Intercept)HeightCabinets Estimate-57.98771.2760.3393 Std. Error8.63820.26430.1302 t value -6.7134.8282.607 Pr(>|t|)2.75e-074.44e-050.0145 Why is the interpretation of the constant term (i.e. "intercept") not meaningful for this example? The predicted area will be negative when the number of cabinets is zero and the height of the kitchen is also zero. But we cannot have a negative area, nor a kitchen ceiling height of 0 inches.…

Recommended textbooks for you

College Algebra

Algebra

ISBN:

9781938168383

Author:

Jay Abramson

Publisher:

OpenStax

Linear Algebra: A Modern Introduction

Algebra

ISBN:

9781285463247

Author:

David Poole

Publisher:

Cengage Learning

Glencoe Algebra 1, Student Edition, 9780079039897…

Algebra

ISBN:

9780079039897

Author:

Carter

Publisher:

McGraw Hill

College Algebra

Algebra

ISBN:

9781938168383

Author:

Jay Abramson

Publisher:

OpenStax

Linear Algebra: A Modern Introduction

Algebra

ISBN:

9781285463247

Author:

David Poole

Publisher:

Cengage Learning

Glencoe Algebra 1, Student Edition, 9780079039897…

Algebra

ISBN:

9780079039897

Author:

Carter

Publisher:

McGraw Hill

Algebra and Trigonometry (MindTap Course List)

Algebra

ISBN:

9781305071742

Author:

James Stewart, Lothar Redlin, Saleem Watson

Publisher:

Cengage Learning

Functions and Change: A Modeling Approach to Coll…

Algebra

ISBN:

9781337111348

Author:

Bruce Crauder, Benny Evans, Alan Noell

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS