Tucson Machinery, Ic., manufactures numerically controlled machines, which sell for an average price of $11.0 million each. Sales for these NCMS for the past two years were as follows: Use Exhibit 3.10. QUANTITY QUANTITY QUARTER LAST YEAR _QUARTER THIS YEAR (UNITS) (UNITS) 11 I 14 II 18 II 23 III 25 III 27 IV 15 IV 21 a. Find the equation of a simple linear regression line using Excel. (Round your answers to 3 decimal places.) Y = t

Tucson Machinery, Ic., manufactures numerically controlled machines, which sell for an average price of $11.0 million each. Sales for these NCMS for the past two years were as follows: Use Exhibit 3.10. QUANTITY QUANTITY QUARTER LAST YEAR _QUARTER THIS YEAR (UNITS) (UNITS) 11 I 14 II 18 II 23 III 25 III 27 IV 15 IV 21 a. Find the equation of a simple linear regression line using Excel. (Round your answers to 3 decimal places.) Y = t

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter1: Equations And Graphs

Section: Chapter Questions

Problem 10T: Olympic Pole Vault The graph in Figure 7 indicates that in recent years the winning Olympic men’s...

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Olympic Pole Vault The graph in Figure 7 indicates that in recent years the winning Olympic men’s pole vault height has fallen below the value predicted by the regression line in Example 2. This might have occurred because when the pole vault was a new event there was much room for improvement in vaulters’ performances, whereas now even the best training can produce only incremental advances. Let’s see whether concentrating on more recent results gives a better predictor of future records. (a) Use the data in Table 2 (page 176) to complete the table of winning pole vault heights shown in the margin. (Note that we are using x=0 to correspond to the year 1972, where this restricted data set begins.) (b) Find the regression line for the data in part ‚(a). (c) Plot the data and the regression line on the same axes. Does the regression line seem to provide a good model for the data? (d) What does the regression line predict as the winning pole vault height for the 2012 Olympics? Compare this predicted value to the actual 2012 winning height of 5.97 m, as described on page 177. Has this new regression line provided a better prediction than the line in Example 2?
For the following exercises, consider this scenario: The profit of a company decreased steadily overa ten-year spam.The following ordered pairs shows dollars and the number of units sold in hundreds and the profit in thousands ofover the ten-year span, (number of units sold, profit) for specific recorded years: (46,600),(48,550),(50,505),(52,540),(54,495). Use linear regression to determine a function Pwhere the profit in thousands of dollars depends onthe number of units sold in hundreds.
If we collect monthly sales over two years for N=100 stores, we should not apply a simple linear regression model directly to the data, because the observations are not independent with each other. Is this statement True or False? A) True B) False
Suppose Tatiyana is interested in the relationship between language ability and time spent reading. She randomly selects a sample of 30 students from the local high school and collects their scores from a language aptitude test. She surveys the sample asking each student how many hours per month he or she spends reading. Using the sample data, Tatiyana produces a scatterplot with reading time on the horizontal axis and language test scores on the vertical axis. She develops a least squares regression equation where ? is the amount of time spent reading during the month and ?̂ is the predicted value of the language test score. ?̂=3.251x+31.237 Compute the value of ?̂ when a student spends 42 hours reading. Give your answer precise to one decimal place. Avoid rounding until the last step. ?̂= ? points Identify all of the true statements regarding the interpretation of ?̂ when ?=42. The value of ?̂ is ? a. the predicted number of students that read for 42 hours. b. the language test…
A)What would the consequence be for a regression model if the errors were not homoscedastic? (B) How might you proceed if you found that (b) were actually the case?
The use of multiple logistic regression is warranted when there are two or more independent quantitative or nominal variables and one dichotomous dependent variable. a. True b. False
Suppose the Sherwin-Williams Company is interested in developing a simple regression model with paint sales (Y) as the dependent variable and selling price (P) as the independent variable. Complete the following worksheet and then use it to determine the estimated regression line. Sales Region Selling Price Sales ($/Gallon) (x 1000 Gal) ii xixi yiyi xixiyiyi xi2xi2 yi2yi2 1 15 160 2,400 225 25,600 2 13.5 220 2,970 182.25 48,400 3 16.5 140 2,310 272.25 19,600 4 14.5 190 2,755 210.25 36,100 5 17 120 2,040 289 14,400 6 16 160 2,560 256 25,600 7 13 210 2,730 169 44,100 8 18 150 2,700 324 22,500 9 12 220 2,640 144 48,400 10 15.5 190 2,945 240.25 36,100 Total 151 1,760 26,050 2,312 320,800 Regression Parameters Estimations Slope (ββ) -16.49 Intercept (αα) 424.98 In words, for a dollar increase in the selling price, the expected sales will increase by 2,640 gallons in a given sales region.…
Suppose the Sherwin-Williams Company is interested in developing a simple regression model with paint sales (Y) as the dependent variable and selling price (P) as the independent variable. Complete the following worksheet and then use it to determine the estimated regression line. Sales Region Selling Price Sales ($/Gallon) (x 1000 Gal) ii xixi yiyi xixiyiyi xi2xi2 yi2yi2 1 15 160 2,400 225 25,600 2 13.5 220 2,970 182.25 48,400 3 16.5 140 2,310 272.25 19,600 4 14.5 190 2,755 210.25 36,100 5 17 120 2,040 289 14,400 6 16 160 2,560 256 25,600 7 13 210 2,730 169 44,100 8 18 150 2,700 324 22,500 9 12 210 2,520 144 44,100 10 15.5 190 2,945 240.25 36,100 Total 151 1,750 2,312 What is the estimate of the standard deviation of the estimated slope (sbsb)? 2.627 3.173 2.877 Can you reject the hypothesis (at the 0.05 level of significance) that there is no relationship (i.e., β=0β=0) between the…
Cascade Pharmaceuticals Company developed the following regression model, using time-series data from the past 33 quarters, for one of its nonprescription cold remedies:Y = -1:04 + 0:24X1 - 0:27X2where Y = quarterly sales (in thousands of cases) of the cold remedyX1 = Cascade’s quarterly advertising (× $1,000) for the cold remedyX2 = competitors’ advertising for similar products (× $10,000)Here is additional information concerning the regression model:sb1 = 0:032 sb2 = 0:070R2 = 0:64 se = 1:63 F-statistic = 31:402Durbin-Watson (d) statistic = 0.4995a. Which of the independent variables (if any) appears to be statistically significant (at the 0.05 level) in explaining sales of the cold remedy?b. What proportion of the total variation in sales is explained by the regression equation?c. Perform an F-test (at the 0.05 level) of the overall explanatory power of the model.d. What additional statistical information (if any) would you find useful in the evaluation of this model?
The operations manager of a musical instrument distributor feels that the demand for Bass Drums may be related to the number of television appearances by the popular rick group Green Shades during the previous month. The manager has collected the data shown in the following table. Demand for Bass Drums 3 6 7 5 10 8 Green Shades TV appearances 3 4 7 6 8 5 Develop the linear regression equation to forecast. Forecast demand for Bass Drums when Green Shades’ TV appearances are 10. Compute MSE and standard deviation for Problem 8.
Suppose a study wants to predict the market price of a certain species of turtle (Y) based on the following independent variables indicated in the table. Based from the table, what is the equation of the multiple linear regression? (Round off up to two decimal places. Market Price = 0.07 - 0.40*weight + 1.51*length + 1.41*width + 0.80*age Market Price = - 0.40*weight + 1.51*length + 1.41*width + 0.80*age Market Price = 0.07 + 0.40*weight + 1.51*length + 1.41*width + 0.80*age Market Price = 0.07 - 0.40 + weight + 1.51 + length + 1.41 + width + 0.80 + age