An Introduction to Statistical Methods and Data Analysis
7th Edition
ISBN: 9781305269477
Author: R. Lyman Ott, Micheal T. Longnecker
Publisher: Cengage Learning
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A psychologist conducted a study to examine the nature of the relation, if any, between an employee’s emotional stability and the employee’s ability to perform in a task group. Emotional stability was measured by a written test for which the higher the score, the greater the emotional stability. Ability to perform in a task group was evaluated by the supervisor. An employee was given a 1 if they were able to perform a task in the group, and 0 if they were unable. Following output gives the results from a logistic regression analysis on the data provided by a sample of 27 employees.
(a) what is the estimated logistic regression line?
(b) Convert your slope estimate into an estimate for the odds ratio, and interpret the results.
(c) Estimate the odds of the being able to perform in a task group for an employee with an emotional stability score of 510.
Following table presents the quarterly market share of Tasty Food Company;
Quarter
Firm’s Actual Market Share
1
20
2
22
3
23
4
24
5
18
6
23
7
19
8
17
9
22
10
23
11
18
12
23
13
?
Forecast the company’s market share for the 13th quarter by exponential smoothing with w=0.3.
Calculate the Root-Mean Square Error (RMSE) for the exponential forecast using w=0.3.
If the RMSE for the exponential forecast using w=0.5 is 2.91 then compare which forecasts is better and why?
Consider the following panel model to examine the effect of retirement on consumption expenditure, consit, of individual i over years t=1,…,3:
(B1) log(consit) = β0 + β1retiredit + β2ageit + β3marriedit + β4healthit + δ1Yr2t + δ2Yr3t + ai + uit
Where:
retiredit is a dummy variable equal to 1 if individual i is retired on year t and 0 otherwise
ageit is the individual's age in years
marriedit is an indicator variable for whether the individual is married (1) or not (0) in year t
healthit is an indicator variable equal to 1 if the individual is in 'good health' and 0 otherwise
Yr2 is a dummy variable equal to 1 in year t=2 and 0 otherwise
Yr3 is a dummy variable equal to 1 in year t=3 and 0 otherwise
Using the information above, answer the following 3 questions.
[i] Give two (2) examples of the kind of variables captured by the term ai in Model (B1).
[ii] What is the crucial assumption we must make so that the random effects (RE) estimator is consistent? Under this assumption, why is…
Chapter 11 Solutions
An Introduction to Statistical Methods and Data Analysis
Ch. 11.9 - Prob. 1ECh. 11.9 - Refer to Exercise 11.1.
Plot the equation in the...Ch. 11.9 - Use the data given here to answer the following...Ch. 11.9 - Prob. 4ECh. 11.9 - Use the output from Minitab for these data to...Ch. 11.9 - A food processor was receiving complaints from its...Ch. 11.9 - An online retailer needs to manage the amount of...Ch. 11.9 - A manufacturer of cases for sound equipment...Ch. 11.9 - Refer to the data of Exercise 11.7. a. Calculate a...Ch. 11.9 - Refer to the data of Exercise 11.8.
Calculate a...
Ch. 11.9 - Refer to the data of Exercise 11.8.
Calculate a...Ch. 11.9 - Athletes are constantly seeking measures of the...Ch. 11.9 - A firm that prints automobile bumper stickers...Ch. 11.9 - A chemist is interested in determining the weight...Ch. 11.9 - Refer to Exercise 11.22 to complete the following....Ch. 11.9 - Prob. 40ECh. 11.9 - A survey of MBA, graduates of a business school...Ch. 11.9 - Refer to the data in Exercise 11.44.
Determine the...Ch. 11.9 - There has been an increasing emphasis in recent...Ch. 11.9 - An air conditioning company responds to calls...Ch. 11.9 - Refer to Exercise 11.61. a. Calculate the...Ch. 11.9 - Refer to Exercise 11.61.
Test for lack of fit for...Ch. 11.9 - Refer to Exercise 11.61.
Compute the standard...Ch. 11.9 - Prob. 93SE
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- For the Hawkins Company, the monthly percentages of all shipments received on time over the past 12 months are 80, 82, 84, 83, 83, 84, 85, 84, 82, 83, 84, and 83. a. Compute for a 3 month moving average forecast. b. Compute for the exponential smoothing forecast for a=0.2. c. Which provides the better forecast using MSE as the measure of model accuracy? d. What is the forecast for next month?arrow_forwardThe following table contains statistics from a logistic regression analysis for a study on intravenous drug use among high school students in United States. Drug use is characterized as a dichotomous variable, where 1 indicates that an individual has injected drugs within the past year and 0 that he or she has not. Factors that might be related to drug use are instruction about the HIV in school (1 represents "had HIV education" and 0 represents "did not have HIV education"), age of the student (in years), and gender (1 represents male and 0 represents female). Statistics in the table are estimated coefficients of the logistic regression model and p-values for testing the significance of the coefficients. Choose proper answers using statistics in the following table. (THERE MAY BE MORE THAN ONE CORRECT ANSWER) Variable Coefficient p-value Intercept (Constant) -0.164 0.078 HIV instruction 0.019 0.928 Age 0.064 0.036 Gender 1.032 0.014…arrow_forwardSuppose a new magazine initially sells 600 copies per month. Research indicates that a vigorous advertising campaign could increase sales by 40% each month if our market were unlimited. But research also indicates that magazine sales in our area are unlikely to exceed 2400 per month. Make a logistic model of projected magazine sales. a) N = 600 / 1+3e^-0.336t b) N = 2400 / 1+3e^-0.336t c) N = 40 / 1+3e^-0.336t d) N = 2400 / 1+40e^-0.336tarrow_forward
- Comment on the statistical significance of the estimated logit model.arrow_forwardCompute the forecasted values for Yt for July and August in 2020 by using the modelsstated in (c) and (d)arrow_forwardFor the Hawkins Company, the monthly percentages of all shipments received on time over the past 12 months are 80, 82, 84, 83, 83, 84, 85, 84, 82, 83, 84, and 83. Compare a three-month moving average forecast with an exponential smoothing forecast for α = 0.2. Which provides the better forecasts using MSE as the measure of model accuracy? Do not round your interim computations and round your final answers to three decimal places. Movingaverage Exponentialsmoothing MSE What is the forecast for next month? If required, round your answer to two decimal places.arrow_forward
- When conducting a logistic regression analysis, what is the problem of class imbalance in a dataset? Question 2 options: When the number of observations in one class is too similar to the number of observations in the other class When the number of observations in one class exactly equals the number of observations in the other class. When the number of observations in one class is substantially smaller than the number of observations in the other class When the number of observations in one class does not exactly equal the number of observations in the other classarrow_forward**Complete the table** 1) A sample of data is collected (from 1999 and 2000) concerning the compensation of the executives (compensation is measured in 1000’s of $’s) of a number of public companies along with other firm-specific data. The dependent variable is total compensation, CEOANN is a dummy variable =1 for an individual who is a CEO and =0 for individuals who are not CEO’s, EMPL is total employees, MKTVAL is the natural logarithm of the market value of the firm, EPSIN is earnings per share, YEAR is a dummy variable = 1 for the year 2000 and =0 for year 1999, and ASSETS is the natural logarithm of the total assets of the company. a) Complete the table belowarrow_forwardAssuming that an autoregressive model is appropriatefor the crude oil data , the estimates of a, b, and σ/√Nobtained from a standard statistical package area = 0.03, b = 0.975 , σ/√N = 0.020 , K = 220 Consequently, if the present price is 210, then the logarithmof the price at the end of another 50 trading days is a normalrandom variable. CALCULATE the values of m , v , h, and Carrow_forward
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