ELEM STATISTICS PKG W/STATLAB SPSCC>CI
2nd Edition
ISBN: 9781269391757
Author: Triola
Publisher: PEARSON C
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Chapter 10.5, Problem 12BSC
City Fuel Consumption: Finding the Best Multiple Regression Equation. In Exercises 9-12, refer to the accompanying table, which was obtained using the data from 21 cars listed in Data Set 20 “Car Measurements” in Appendix B. The response (y) variable is CITY (fuel consumption in mi /gal). The predictor (x) variables are WT (weight in pounds), DISP (engine displacement in liters), and HWY (highway fuel consumption in mi /gal).
| Predictor (x) Variables | P-Value | R2 | Adjusted R2 | Regression Equation |
| WT/DISP/HWY | 0.000 | 0.943 | 0.933 | CITY = 6.86 − 0.00128 WT − 0.257 DISP + 0.652 HWY |
| WT/DISP | 0.000 | 0.748 | 0.720 | CITY = 38.0 − 0.00395 WT − 1.29 DISP |
| WT/HWY | 0.000 | 0.942 | 0.935 | CITY = 6.69 − 0.00159 WT + 0.670 HWY |
| DISP/HWY | 0.000 | 0.935 | 0.928 | CITY 1.87 − 0.625 DISP + 0.706 HWY |
| WT | 0.000 | 0.712 | 0.697 | CITY = 41.8 − 0.00607 WT |
| DISP | 0.000 | 0.659 | 0.641 | CITY = 29.0 − 2.98 DISP |
| HWY | 0.000 | 0.924 | 0.920 | CITY = −3.15+ 0.819 HWY |
12. A Honda Civic weighs 2740 lb, it has an engine displacement of 1.8 L, and its highway fuel consumption is 36 mi/gal. What is the best predicted value of the city fuel consumption? Is that predicted value likely to be a good estimate? Is that predicted value likely to be very accurate?
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Demand Estimation for The San Francisco Bread Company
Consider the hypothetical example of The San Francisco Bread Company, a San Francisco-based chain of bakery/cafes. San Francisco Bread Company has initiated an empirical estimation of customer traffic at 30 regional locations to help the firm formulate pricing and promotional plans for the coming year. Annual operating data for the 30 outlets appear in the attached Table 1.
The following regression equation was fit to these data:
Qi = b0 + b1Pi + b2Pxi + b3Adi + b4Ii + uit.
Where: Q is the number of meals served,
P is the average price per meal (customer ticket amount, in dollars),
Px is the average price charged by competitors (in dollars),
Ad is the local advertising budget for each outlet (in dollars),
I is the average income per household in each outlet’s service area,
ui…
Demand Estimation for The San Francisco Bread Company
Consider the hypothetical example of The San Francisco Bread Company, a San Francisco-based chain of bakery/cafes. San Francisco Bread Company has initiated an empirical estimation of customer traffic at 30 regional locations to help the firm formulate pricing and promotional plans for the coming year. Annual operating data for the 30 outlets appear in the attached Table 1.
The following regression equation was fit to these data:
Qi = b0 + b1Pi + b2Pxi + b3Adi + b4Ii + uit.
Where: Q is the number of meals served,
P is the average price per meal (customer ticket amount, in dollars),
Px is the average price charged by competitors (in dollars),
Ad is the local advertising budget for each outlet (in dollars),
I is the average income per household in each outlet’s service area,
ui…
Chapter 10 Solutions
ELEM STATISTICS PKG W/STATLAB SPSCC>CI
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