ELEM STATISTICS PKG W/STATLAB SPSCC>CI
2nd Edition
ISBN: 9781269391757
Author: Triola
Publisher: PEARSON C
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 10.3, Problem 26BSC
Regression and Predictions. Exercises 13–28 use the same data sets as Exercises 13–28 in Section 10-2. In each case, find the regression equation, letting tire first variable be the predictor (x) variable. Find the indicated predicted value by following the prediction procedure summarized in Figure 10-5.
25. Gas Prices One gas station not included in the table below had a listed price of $2.78 for regular gas. Find the best predicted price of premium gas at this station. Is the result close to the actual price of $2.93 for premium gas?
| Regular | 2.77 | 2.77 | 2.79 | 2.81 | 2.78 | 2.86 | 2.75 | 2.77 |
| Mid-Grade | 3 00 | 2.77 | 2.89 | 2.93 | 2.93 | 2.96 | 2.86 | 2.91 |
| Premium | 3.07 | 3.09 | 3.00 | 3.06 | 3.03 | 3.06 | 3.02 | 3.03 |
26. Gas Prices Using the data from the preceding exercise, find the best predicted price for mid-grade gas for a station that posted $2.78 as the price of regular gas. Is the result close to the actual price of $2.84 for mid-grade gas?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Regression and Predictions. Exercises 13–28 use the same data sets as Exercises 13–28 in Section 10-1. In each case, find the regression equation, letting the first variable be the predictor (x) variable. Find the indicated predicted value by following the prediction procedure summarized in Figure 10-5 on page 493.
Tips Using the bill/tip data, find the best predicted tip amount for a dinner bill of $100. What tipping rule does the regression equation suggest?
Section 10.2
Question #8
Find the regression equation, letting the first variable be the predictor (x) variable. Using the listed lemon/crash data, where lemon imports are in metric tons and the fatality rates are per 100,000 people, find the best predicted crash fatality rate for a year in which there are 450metric tons of lemon imports. Is the prediction worthwhile?
Lemon Imports
226
270
364
488
525
Crash Fatality Rate
16.1
15.9
15.6
15.5
15.1
Find the equation of the regression line.
y= ___________+( ____________)x
(Round the y-intercept to three decimal places as needed. Round the slope to four decimal places as needed.)
The best predicted crash fatality rate for a year in which there are
450 metric tons of lemon imports is _________ fatalities per 100,000 population.
(Round to one decimal place as needed.)
Altman Z Score
2018
2019
2020
BHP
0.80
0.71
0.63
FMG
1.12
1.26
1.38
RIO
1.36
1.34
1.34
Comment on the findings of each company and is it useful in predicting financial failure
Chapter 10 Solutions
ELEM STATISTICS PKG W/STATLAB SPSCC>CI
Ch. 10.2 - Notation For each of several randomly selected...Ch. 10.2 - Physics Experiment A physics experiment consists...Ch. 10.2 - Cause of High Blood Pressure Some studies have...Ch. 10.2 - Notation What is the difference between the...Ch. 10.2 - Interpreting r. In Exercises 5-8, use a...Ch. 10.2 - Interpreting r. In Exercises 5-8, use a...Ch. 10.2 - Interpreting r. In Exercises 5-8, use a...Ch. 10.2 - Cereal Killers The amounts of sugar (grams of...Ch. 10.2 - Explore! Exercises 9 and 10 provide two data sets...Ch. 10.2 - Explore! Exercises 9 and 10 provide two data sets...
Ch. 10.2 - Outlier Refer in the accompanying...Ch. 10.2 - Clusters Refer to the following Minitab-generated...Ch. 10.2 - Testing for a Linear Correlation. In Exercises...Ch. 10.2 - Prob. 14BSCCh. 10.2 - Testing for a Linear Correlation. In Exercises...Ch. 10.2 - Testing for a Linear Correlation. In Exercises...Ch. 10.2 - Testing for a Linear Correlation. In Exercises...Ch. 10.2 - Testing for a Linear Correlation. In Exercises...Ch. 10.2 - Prob. 19BSCCh. 10.2 - Prob. 20BSCCh. 10.2 - Testing for a Linear Correlation. In Exercises...Ch. 10.2 - Testing for a Linear Correlation. In Exercises...Ch. 10.2 - Prob. 23BSCCh. 10.2 - Prob. 24BSCCh. 10.2 - Testing for a Linear Correlation. In Exercises...Ch. 10.2 - Prob. 26BSCCh. 10.2 - Testing for a Linear Correlation. In Exercises...Ch. 10.2 - Testing for a Linear Correlation. In Exercises...Ch. 10.2 - Large Data Sets. In Exercises 29-32, use the data...Ch. 10.2 - Large Data Sets. In Exercises 29-32, use the data...Ch. 10.2 - Appendix B Data Sets. In Exercises 29-34, use the...Ch. 10.2 - Large Data Sets. In Exercises 29-32, use the data...Ch. 10.2 - Transformed Data In addition to testing for a...Ch. 10.2 - Prob. 34BBCh. 10.3 - Notation and Terminology If we use the paired...Ch. 10.3 - Best-Fit Line In what sense is the regression line...Ch. 10.3 - Prob. 3BSCCh. 10.3 - Notation What is the difference between the...Ch. 10.3 - Making Predictions. In Exercises 5-8, let the...Ch. 10.3 - Making Predictions. In Exercises 5-8, let the...Ch. 10.3 - Making Predictions. In Exercises 5-8, let the...Ch. 10.3 - Making Predictions. In Exercises 5-8, let the...Ch. 10.3 - Finding the Equation of the Regression Line. In...Ch. 10.3 - Finding the Equation of the Regression Line. In...Ch. 10.3 - Effects of an Outlier Refer to the Mini...Ch. 10.3 - Effects of Clusters Refer to the Minitab-generated...Ch. 10.3 - Regression and Predictions. Exercises 13-28 use...Ch. 10.3 - Regression and Predictions. Exercises 13-28 use...Ch. 10.3 - Regression and Predictions. Exercises 13-28 use...Ch. 10.3 - Regression and Predictions. Exercises 13-28 use...Ch. 10.3 - Regression and Predictions. Exercises 13-28 use...Ch. 10.3 - Regression and Predictions. Exercises 13-28 use...Ch. 10.3 - Regression and Predictions. Exercises 13-28 use...Ch. 10.3 - Regression and Predictions. Exercises 13-28 use...Ch. 10.3 - Regression and Predictions. Exercises 13-28 use...Ch. 10.3 - Regression and Predictions. Exercises 13-28 use...Ch. 10.3 - Regression and Predictions. Exercises 13-28 use...Ch. 10.3 - Regression and Predictions. Exercises 13-28 use...Ch. 10.3 - Regression and Predictions. Exercises 13-28 use...Ch. 10.3 - Regression and Predictions. Exercises 1328 use the...Ch. 10.3 - Regression and Predictions. Exercises 1328 use the...Ch. 10.3 - Regression and Predictions. Exercises 1328 use the...Ch. 10.3 - Large Data Sets. Exercises 2932 use the same...Ch. 10.3 - Large Data Sets. Exercises 2932 use the same...Ch. 10.3 - Prob. 31BSCCh. 10.3 - Large Data Sets. Exercises 29-32 use the same...Ch. 10.3 - Prob. 33BBCh. 10.3 - Prob. 34BBCh. 10.4 - Prob. 1BSCCh. 10.4 - Prediction Interval Using the heights and weights...Ch. 10.4 - Prob. 3BSCCh. 10.4 - Prob. 4BSCCh. 10.4 - Interpreting the Coefficient of Determination. In...Ch. 10.4 - Interpreting the Coefficient of Determination. In...Ch. 10.4 - Interpreting the Coefficient of Determination. In...Ch. 10.4 - Interpreting the Coefficient of Determination. In...Ch. 10.4 - Prob. 9BSCCh. 10.4 - Prob. 10BSCCh. 10.4 - Prob. 11BSCCh. 10.4 - Prob. 12BSCCh. 10.4 - Prob. 13BSCCh. 10.4 - Prob. 14BSCCh. 10.4 - Prob. 15BSCCh. 10.4 - Prob. 16BSCCh. 10.4 - Variation and Prediction Intervals. In Exercises...Ch. 10.4 - Prob. 18BSCCh. 10.4 - Prob. 19BSCCh. 10.4 - Prob. 20BSCCh. 10.4 - Confidence Intervals for 0 and 1 Confidence...Ch. 10.4 - Confidence Interval for Mean Predicted Value...Ch. 10.5 - Prob. 1BSCCh. 10.5 - Best Multiple Regression Equation For the...Ch. 10.5 - Adjusted Coefficient of Determination For Exercise...Ch. 10.5 - Interpreting R2 For the multiple regression...Ch. 10.5 - Prob. 5BSCCh. 10.5 - Prob. 6BSCCh. 10.5 - Prob. 7BSCCh. 10.5 - Prob. 8BSCCh. 10.5 - Prob. 9BSCCh. 10.5 - Prob. 10BSCCh. 10.5 - Prob. 11BSCCh. 10.5 - City Fuel Consumption: Finding the Best Multiple...Ch. 10.5 - Prob. 13BSCCh. 10.5 - Prob. 14BSCCh. 10.5 - Appendix B Data Sets. In Exercises 13-16, refer to...Ch. 10.5 - Appendix B Data Sets. In Exercises 13-16, refer to...Ch. 10.5 - Prob. 17BBCh. 10.5 - Prob. 18BBCh. 10.5 - Dummy Variable Refer to Data Set 9 Bear...Ch. 10.6 - Prob. 1BSCCh. 10.6 - Prob. 2BSCCh. 10.6 - Super Bowl and R2 Let x represent years coded as...Ch. 10.6 - Prob. 4BSCCh. 10.6 - Prob. 5BSCCh. 10.6 - Finding the Best Model. In Exercises 5-16,...Ch. 10.6 - Prob. 7BSCCh. 10.6 - Prob. 8BSCCh. 10.6 - Finding the Best Model. In Exercises 5-16,...Ch. 10.6 - Finding the Best Model. In Exercises 5-16,...Ch. 10.6 - Prob. 11BSCCh. 10.6 - Prob. 12BSCCh. 10.6 - Prob. 13BSCCh. 10.6 - Prob. 14BSCCh. 10.6 - Prob. 15BSCCh. 10.6 - Prob. 16BSCCh. 10.6 - Prob. 18BBCh. 10 - The exercises arc based on the following sample...Ch. 10 - Prob. 2CQQCh. 10 - Prob. 3CQQCh. 10 - The exercises are based on the following sample...Ch. 10 - The exercises are based on the following sample...Ch. 10 - Prob. 6CQQCh. 10 - Prob. 7CQQCh. 10 - Prob. 8CQQCh. 10 - Prob. 9CQQCh. 10 - Prob. 10CQQCh. 10 - Old Faithful The table below lists measurements...Ch. 10 - Prob. 2RECh. 10 - Prob. 3RECh. 10 - Prob. 4RECh. 10 - Prob. 5RECh. 10 - Prob. 1CRECh. 10 - Prob. 2CRECh. 10 - Prob. 3CRECh. 10 - Prob. 4CRECh. 10 - Effectiveness of Diet. Listed below are weights...Ch. 10 - Prob. 6CRECh. 10 - Prob. 7CRECh. 10 - Effectiveness of Diet. Listed below are weights...Ch. 10 - Prob. 9CRECh. 10 - Prob. 10CRECh. 10 - Critical Thinking: Is replication validation? The...Ch. 10 - Prob. 2FDDCh. 10 - Prob. 3FDD
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- Editor of Astrology Magazine wants to obtain sales forecast value for 2021. Use the given data below and help the editor. Year Quarter Sales 2019 1. 53 2. 51 3. 48 4. 55 2020 1. 53 2. 51 3. 54 4. 52 Use time series regression model and determine sales forecast value for the second quarter of 2021arrow_forwardgiven the information below: Row Education Income in in Years 2015 Dollars 1 7 22587 2 10 28305 3 12 40196 4 13 49483 5 14 54483 6 16 78073 7 18 99540 8 19 155646 9 21 125310 1. Estimate the regression equation Income = a + b(Education). 2. What is the predicted increase in Income for a one-year increase in Education? 3. What do you predict Income to be for a person who has 17 years of education? 4. How much of the variation in Income is explained (or accounted for) by Education?arrow_forwardSection 10.2 Question #5 Use the given data to find the equation of the regression line. Examine the scatterplot and identify a characteristic of the data that is ignored by the regression line. x 7 10 8 9 12 14 13 5 11 6 4 y 8.11 10.67 9.27 10.12 10.86 9.82 10.49 4.89 10.91 6.66 2.82 y= ____________+ _____________x (Round to two decimal places as needed.)arrow_forward
- Chapter 10 Use the (x, y) data. x 2 4 3 6 7 9 5 12 y 25 22 24 20 17 19 12 11 Construct a scatter plot Test for correlation. Assume all requirements have been met. Is this a left, right, or two tailed test? Find the P-value? Will the null hypothesis be rejected? Write the regression equation. Round to 1 decimal place Use the regression equation to predict y when x = 5arrow_forward2. Given the following sets of information, find the linear least squares regression and the correlation coefficient.arrow_forwardFit a multiple linear regression model to the given data. as X1,X2,X5, and X6 as regressors.arrow_forward
- Section 10.3 Question #6 Listed below are altitudes (thousands of feet) and outside air temperatures (°F) recorded during a flight. Find the (a) explained variation, (b) unexplained variation, and (c) indicated prediction interval. There is sufficient evidence to support a claim of a linear correlation, so it is reasonable to use the regression equation when making predictions. For the prediction interval, use a 95% confidence level with the altitude of 6327 ft (or 6.327 thousand feet). Altitude 4 11 14 20 28 31 34 Temperature 55 39 26 −2 −34 −41 −59 a. Find the explained variation. ______________ (Round to two decimal places as needed.) b. Find the unexplained variation. _______________ (Round to five decimal places as needed.) c. Find the indicated prediction interval. _____________°F < y < ____________ °F (Round to four decimal places as needed.)arrow_forwarda)Find the equation of the least-squares regression line for the data. (Where x is the independent variable.) Round constants to the nearest hundredth. b)Use the equation from part (a) to determine, to the nearest centimeter, the projected wingspan of a pterosaur if its humerus is 53 centimeters.arrow_forwardb. Use a multiple linear regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data: Qtr1 = 1 if quarter 1, 0 otherwise; Qtr2 = 1 if quarter 2, 0 otherwise; Qtr3 = 1 if quarter 3, 0 otherwise. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. c. Compute the quarterly forecasts for next year.arrow_forward
- Year Quarter Sales 1 1 1690 1 2 940 1 3 2625 1 4 2500 2 1 1800 2 2 900 2 3 2900 2 4 2360 3 1 1850 3 2 1100 3 3 2930 3 4 2615 Use a regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data: qtr1 if quarter 1, 0 otherwise; qtr2 if quarter 2, 0 otherwise; qtr3 if quarter 3, 0 otherwise. (Regression 1) Based on the model you developed, compute the quarterly forecasts for the next year. A.What is the quarter 3 forecast? (Make sure no decimal places and no comma.) Answer: B.What is the quarter 4 forecast? (Make sure no decimal places and no comma.) Answer: Let t = 1 refer to the observation in quarter 1 of year 1; t = 2 refer to the observation in quarter 2 of year 1; … ; and t = 12 refer to the observation in quarter 4 of year 3. Using the dummy variables defined in Regression 1 and t, develop an equation to account for seasonal effects and any linear trend in the time series. (Regression 2) Based upon the…arrow_forwardChapter 5, Section 1, Exercise 019 MORE BENEFITS OF EATING ORGANICUsing specific data, we find a significant difference in the proportion of fruit flies surviving after 13 days between those eating organic potatoes and those eating conventional (not organic) potatoes. This exercise asks you to conduct a hypothesis test using additional data. In this case, we are testing H0 : po= pcHa: po > pc where po and pc represent the proportion of fruit flies alive at the end of the given time frame of those eating organic food and those eating conventional food, respectively. Use a 5% significance level.Effect of Organic Bananas After 25 DaysAfter 25 days, the proportion of fruit flies eating organic bananas still alive is 0.42, while the proportion still alive eating conventional bananas is 0.40. The standard error for the difference in proportions is 0.029.What is the value of the test statistic?Round your answer to two decimal places. z= What is the p-value?Round your answer to…arrow_forwardIf the least-squares regression line for predicting y from x is y = 1500 – 2.5x, what is the predicted value of y when x = 10? A. -1000 B. 1475 C. 1250 D. 596 E. 4800arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
MATLAB: An Introduction with ApplicationsStatisticsISBN:9781119256830Author:Amos GilatPublisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...StatisticsISBN:9781305251809Author:Jay L. DevorePublisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...StatisticsISBN:9781305504912Author:Frederick J Gravetter, Larry B. WallnauPublisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...StatisticsISBN:9780134683416Author:Ron Larson, Betsy FarberPublisher:PEARSON
The Basic Practice of StatisticsStatisticsISBN:9781319042578Author:David S. Moore, William I. Notz, Michael A. FlignerPublisher:W. H. Freeman
Introduction to the Practice of StatisticsStatisticsISBN:9781319013387Author:David S. Moore, George P. McCabe, Bruce A. CraigPublisher:W. H. Freeman
MATLAB: An Introduction with Applications
Statistics
ISBN:9781119256830
Author:Amos Gilat
Publisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...
Statistics
ISBN:9781305251809
Author:Jay L. Devore
Publisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...
Statistics
ISBN:9781305504912
Author:Frederick J Gravetter, Larry B. Wallnau
Publisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...
Statistics
ISBN:9780134683416
Author:Ron Larson, Betsy Farber
Publisher:PEARSON
The Basic Practice of Statistics
Statistics
ISBN:9781319042578
Author:David S. Moore, William I. Notz, Michael A. Fligner
Publisher:W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:9781319013387
Author:David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:W. H. Freeman
Correlation Vs Regression: Difference Between them with definition & Comparison Chart; Author: Key Differences;https://www.youtube.com/watch?v=Ou2QGSJVd0U;License: Standard YouTube License, CC-BY
Correlation and Regression: Concepts with Illustrative examples; Author: LEARN & APPLY : Lean and Six Sigma;https://www.youtube.com/watch?v=xTpHD5WLuoA;License: Standard YouTube License, CC-BY