Statistics Plus New MyLab Statistics with Pearson eText -- Access Card Package (13th Edition)
13th Edition
ISBN: 9780134090436
Author: James T. McClave, Terry T Sincich
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Question
Chapter 12, Problem 12.137LM
a.
To determine
To obtain: The least squares prediction equation.
b.
To determine
To find: The value of
To interpret: The value of
c.
To determine
Whether the model is useful for predicting y or not.
d.
To determine
Whether there is sufficient evidence to indicate
β 1
e.
To determine
To Find: The standard deviation of the regression model.
To Interpret: The standard deviation of the regression model.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Are the following statements true or false? Explain your answer.a. “An ordinary least squares regression of Y onto X will not be internallyvalid if Y is correlated with the error term.”b. “If the error term exhibits heteroskedasticity, then the estimates of Xwill always be biased.”
Suppose Wesley is a marine biologist who is interested in the relationship between the age and the size of male Dungeness crabs. Wesley collects data on 1,000 crabs and uses the data to develop the following least-squares regression line where ? is the age of the crab in months and ?ˆ is the predicted value of ?, the size of the male crab in cm.
?ˆ=8.1312+0.5226?
What is the value of ?ˆ when a male crab is 23.0736 months old? Provide your answer with precision to two decimal places.
?ˆ =
Interpret the value of ?. The value of ?ˆis
the predicted size of a crab when it is 23.0736 months old.
the predicted incremental increase in size for every increase in age by 23.0736 months.
the predicted number of crabs out of the 1,000 crabs collected that will be 23.0736 months old.
the probability that a crab will be 23.0736 months old.
A researcher collected data on the cholesterol level, CC, and the age, AA, of 24 people selected at random. Using the data, the researcher calculated the least-squares regression line to be Cˆ=182+2.2AC^=182+2.2A and the standard error of the slope to be 0.38. If the conditions for inference are met, which of the following is closest to the value of the test statistic to test the hypotheses H0:β=0H0:β=0 versus Ha:β≠0Ha:β≠0 ?
Chapter 12 Solutions
Statistics Plus New MyLab Statistics with Pearson eText -- Access Card Package (13th Edition)
Ch. 12.3 - Write a first-order model relating E(y) to a. two...Ch. 12.3 - Minitab was used to fit the model E(y) = (0 + 1x1...Ch. 12.3 - Suppose you fit the multiple regression model y =0...Ch. 12.3 - Suppose you fit the first-order multiple...Ch. 12.3 - Prob. 12.5LMCh. 12.3 - Prob. 12.6LMCh. 12.3 - Prob. 12.7LMCh. 12.3 - If the analysis of variance F-test leads to the...Ch. 12.3 - Ambiance of 5-star hotels. Although invisible and...Ch. 12.3 - Forecasting movie revenues with Twitter. Refer to...
Ch. 12.3 - Accounting and Machiavellianism. Refer to the...Ch. 12.3 - Prob. 12.12ACBCh. 12.3 - Predicting elements in aluminum alloys. Aluminum...Ch. 12.3 - Novelty of a vacation destination. Many tourists...Ch. 12.3 - Arsenic in groundwater. Environmental Science ...Ch. 12.3 - Reality TV and cosmetic surgery. How much...Ch. 12.3 - Contamination from a plant's discharge. Refer to...Ch. 12.3 - Cooling method for gas turbines. Refer to the...Ch. 12.3 - Rankings of research universities. Refer to the...Ch. 12.3 - Bubble behavior in subcooled flow boiling. In...Ch. 12.3 - Prob. 12.22ACICh. 12.3 - Prob. 12.23ACACh. 12.3 - Prob. 12.24ACACh. 12.4 - Characteristics of lead users. Refer to the...Ch. 12.4 - Prob. 12.26ACBCh. 12.4 - Reality TV and cosmetic surgery. Refer to the Body...Ch. 12.4 - Chemical plant contamination. Refer to Exercise...Ch. 12.4 - Prob. 12.29ACBCh. 12.4 - Arsenic in groundwater. Refer to the Environmental...Ch. 12.4 - Prob. 12.32ACICh. 12.4 - Prob. 12.33ACICh. 12.4 - Boiler drum production. In a production facility,...Ch. 12.5 - Suppose the true relationship between E(y) and the...Ch. 12.5 - Suppose you fit the interaction model y = 0 + x1 +...Ch. 12.5 - Prob. 12.37LMCh. 12.5 - Tipping behavior in restaurants. Can food servers...Ch. 12.5 - Forecasting movie revenues with Twitter. Refer to...Ch. 12.5 - Prob. 12.41ACBCh. 12.5 - Prob. 12.42ACBCh. 12.5 - Reality TV and cosmetic surgery. Refer to the Body...Ch. 12.5 - Factors that impact an auditors judgment. A study...Ch. 12.5 - Service workers and customer relations. A study in...Ch. 12.5 - Bubble behavior in subcooled flow boiling. Refer...Ch. 12.5 - Arsenic in groundwater. Refer to the Environmental...Ch. 12.5 - Cooling method for gas turbines. Refer to the...Ch. 12.6 - Write a second-order model relating the mean of y,...Ch. 12.6 - Prob. 12.50LMCh. 12.6 - Prob. 12.51LMCh. 12.6 - Prob. 12.52LMCh. 12.6 - Minitab was used to fit the complete second-order...Ch. 12.6 - Personality traits and job performance. When...Ch. 12.6 - Going for it on fourth-down in the NFL. Refer to...Ch. 12.6 - Prob. 12.56ACBCh. 12.6 - Prob. 12.57ACBCh. 12.6 - Assertiveness and leadership. Management...Ch. 12.6 - Goal congruence in top management teams. Do chief...Ch. 12.6 - Prob. 12.60ACICh. 12.6 - Revenues of popular movies. The Internet Movie...Ch. 12.6 - Prob. 12.62ACICh. 12.6 - Prob. 12.63ACICh. 12.6 - Prob. 12.64ACICh. 12.6 - Prob. 12.65ACICh. 12.7 - Write a regression model relating the mean value...Ch. 12.7 - Prob. 12.67LMCh. 12.7 - Prob. 12.68LMCh. 12.7 - Prob. 12.69LMCh. 12.7 - Prob. 12.70ACBCh. 12.7 - Prob. 12.71ACBCh. 12.7 - Prob. 12.72ACBCh. 12.7 - Prob. 12.73ACBCh. 12.7 - Buy-side vs. sell-side analysts earnings...Ch. 12.7 - Prob. 12.75ACBCh. 12.7 - Charisma of top-level leaders. Refer to the...Ch. 12.7 - Corporate sustainability and firm characteristics....Ch. 12.7 - Homework assistance for accounting students. Refer...Ch. 12.7 - Improving driving performance while fatigued....Ch. 12.7 - Prob. 12.80ACACh. 12.7 - Banning controversial sports team sponsors. Refer...Ch. 12.8 - Consider a multiple regression model for a...Ch. 12.8 - Prob. 12.83LMCh. 12.8 - Consider the model: y = 0+ 1x1+ 2 x2+ 3 x3+...Ch. 12.8 - Consider the model:...Ch. 12.8 - Prob. 12.86LMCh. 12.8 - Reality TV and cosmetic surgery. Refer to the Body...Ch. 12.8 - Do blondes raise more funds? Refer to the Economic...Ch. 12.8 - Prob. 12.89ACBCh. 12.8 - Buy-side vs. sell-side analysts earnings...Ch. 12.8 - Workplace bullying and intention to leave....Ch. 12.8 - Agreeableness, gender, and wages. Do agreeable...Ch. 12.8 - Chemical plant contamination. Refer to Exercise...Ch. 12.8 - Prob. 12.94ACICh. 12.8 - Recently sold, single-family homes. The National...Ch. 12.8 - Charisma of top-level leaders Refer to the Academy...Ch. 12.9 - Determine which pairs of the following models are...Ch. 12.9 - Prob. 12.98LMCh. 12.9 - Prob. 12.99LMCh. 12.9 - Shared leadership in airplane crews. Refer to the...Ch. 12.9 - Buy-side vs. sell-side analysts earnings...Ch. 12.9 - Workplace bullying and intention to leave. Refer...Ch. 12.9 - Cooling method for gas turbines. Refer to the...Ch. 12.9 - Prob. 12.104ACBCh. 12.9 - Reality TV and cosmetic surgery. Refer to the Body...Ch. 12.9 - Study of supervisor-targeted aggression....Ch. 12.9 - Prob. 12.107ACICh. 12.9 - Recently sold, single-family homes. Refer to the...Ch. 12.9 - Prob. 12.109ACICh. 12.9 - Prob. 12.110ACACh. 12.10 - Prob. 12.111LMCh. 12.10 - Teacher pay and pupil performance. In Economic...Ch. 12.10 - Risk management performance. An article in the...Ch. 12.10 - Accuracy of software effort estimates....Ch. 12.10 - Diet of ducks bred for broiling. Corn is high in...Ch. 12.10 - Reality TV and cosmetic surgery. Refer to the Body...Ch. 12.10 - Prob. 12.117ACICh. 12.10 - Prob. 12.118ACICh. 12.10 - Prob. 12.119ACICh. 12.12 - Identify the problem(s) in each of the residual...Ch. 12.12 - Consider fitting the multiple regression model...Ch. 12.12 - Emotional intelligence and team performance. Refer...Ch. 12.12 - State casket sales restrictions. Some states...Ch. 12.12 - Personality traits and job performance. Refer to...Ch. 12.12 - Women in top management. Refer to the Journal of...Ch. 12.12 - Accuracy of software effort estimates. Refer to...Ch. 12.12 - Arsenic in groundwater. Refer to the Environmental...Ch. 12.12 - Reality TV and cosmetic surgery. Refer to the Body...Ch. 12.12 - Failure times of silicon wafer microchips. Refer...Ch. 12.12 - Bubble behavior in subcooled flow boiling. Refer...Ch. 12.12 - Banning controversial sports team sponsors. Refer...Ch. 12.12 - Cooling method for gas turbines. Refer to the...Ch. 12.12 - Agreeableness, gender, and wages. Refer to the...Ch. 12 - Suppose you have developed a regression model to...Ch. 12 - When a multiple regression model is used for...Ch. 12 - Suppose you fit the model y=0+1x1+2x12+3x2+4x1x2+...Ch. 12 - Prob. 12.137LMCh. 12 - Prob. 12.138LMCh. 12 - Prob. 12.139LMCh. 12 - Prob. 12.140LMCh. 12 - Prob. 12.141LMCh. 12 - Prob. 12.142LMCh. 12 - Prob. 12.143LMCh. 12 - Prob. 12.144LMCh. 12 - Comparing private and public college tuition....Ch. 12 - Prob. 12.146ACBCh. 12 - Prob. 12.147ACBCh. 12 - Highway crash data analysis. Researchers at...Ch. 12 - Prob. 12.149ACBCh. 12 - Mental health of a community. An article in the...Ch. 12 - Prob. 12.151ACBCh. 12 - Testing tires for wear. Underinflated or...Ch. 12 - Prob. 12.153ACBCh. 12 - Prob. 12.154ACBCh. 12 - Prob. 12.155ACBCh. 12 - Prob. 12.156ACBCh. 12 - Prob. 12.157ACBCh. 12 - Promotion of supermarket vegetables. A supermarket...Ch. 12 - Yield strength of steel alloy. Industrial...Ch. 12 - Prob. 12.160ACICh. 12 - Prob. 12.161ACICh. 12 - Improving Math SAT scores. Refer to the Chance...Ch. 12 - Prob. 12.163ACICh. 12 - Prob. 12.164ACICh. 12 - Prob. 12.165ACICh. 12 - Prob. 12.166ACICh. 12 - Sale prices of apartments. A Minneapolis,...Ch. 12 - Volatility of foreign stocks. The relationship...Ch. 12 - Prob. 12.169ACICh. 12 - Prob. 12.170ACICh. 12 - State casket sales restrictions Refer to the...Ch. 12 - Modeling monthly collision claims. A medium-sized...Ch. 12 - Developing a model for college GPA. Many colleges...
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
- Given the least squares regression line y = 3 x – 3, which of the following is true? a. The relationship between x and y is positive. b. The relationship between x and y is negative. c. As x decreases, y increases. d. None of the answer options is correct. arrow_forwardConsider the following statements: I. Multicollinearity is present when there is a high degree of linear correlation between the residuals. II. A regression analysis between weight (y in pounds) and height (x in inches) resulted in the following least squares line: y-hat = 135 + 6x + errors. This implies that if the height is increased by 1 inch, the weight increases by 6 pounds in this linear model. a. I is true and II is false. b. I is false and II is true. c. Both I and II are true. d. Both I and II are false. e. More information is needed for each statement in order to tell which is true or false.arrow_forwardThe following information pertains to a simple least squares regression for DEF Corporation: Mean value of the dependent variable 30Mean value of the independent variable 8Coefficient of the independent variable 3Number of observations 12 What is the "a" value for the leasts-quares regression model? a. 60b. 30c. 6d. 0arrow_forward
- Consider the following model:? = ?? + ?,known as the Classical Linear Regression Model (CLRM), where y is the dependent variable, X is the set of independent variables, ? is the vector of parameters to be estimated and ? is the error term.a) List and discuss the assumptions that make the Ordinary Least Squares (OLS) the Best Linear Unbiased Estimator (BLUE).b) Derive the OLS estimator and variance and discuss where each assumption is needed for the derivation of the two parameters.c) Discuss the properties of linearity, unbiasedness, and efficiency, andwhat assumption you need for each of these properties to hold.d) Present and discuss the R2 and the adjusted R2 Discuss pros and cons of each of the two statistics.arrow_forwardSuppose Wesley is a marine biologist who is interested in the relationship between the age and the size of male Dungeness crabs. Wesley collects data on 1,000 crabs and uses the data to develop the following least-squares regression line where ?X is the age of the crab in months and ?ˆY^ is the predicted value of ?Y, the size of the male crab in cm. ?ˆ=8.2052+0.5693?Y^=8.2052+0.5693X What is the value of ?ˆY^ when a male crab is 21.7865 months old? Provide your answer with precision to two decimal places. ?ˆ= Interpret the value of ?ˆ. The value of ?ˆ is the predicted number of crabs out of the 1,000 crabs collected that will be 21.7865 months old. the probability that a crab will be 21.7865 months old. the predicted size of a crab when it is 21.7865 months old. the predicted incremental increase in size for every increase in age by 21.7865 months.arrow_forwardA seafood-sales manager collected data on the maximum daily temperature, T, and the daily revenue from salmon sales, R, using sales receipts for 30 days selected at random. Using the data, the manager conducted a regression analysis and found the least-squares regression line to be Rˆ=126+2.37T. A hypothesis test was conducted to investigate whether there is a linear relationship between maximum daily temperature and the daily revenue from salmon sales. The standard error for the slope of the regression line is SEb1=0.65. Assuming the conditions for inference have been met, which of the following is closest to the value of the test statistic for the hypothesis test? t=0.274 A t=0.65 B t=1.54 C t=3.65 D t=193.85 Earrow_forward
- 10. For the following data, compute the least squares regression line for predicting gpagiven SAT.SAT: 500 530 590 660 610 700 570 640gpa: 2.3 3.1 2.6 3.0 2.4 3.3 2.6 3.5arrow_forwardA financial analyst is examining the relationship between stock prices and earnings per share. She chooses publicly traded companies at random and records for each the company's current stock price and the company's earnings per share reported for the past 12 months. Her data are given below, with x denoting the earnings per share from the previous year, and y denoting the current stock price (both in dollars). Based on these data, she computes the least-squares regression line to be =y+−0.2130.046x. This line, along with a scatter plot of her data, is shown below. Based on the sample data and the regression line, complete the following. (a)For these data, current stock prices that are less than the mean of the current stock prices tend to be paired with values for earnings per share that are ▼(Choose one) the mean of the values for earnings per share. (b)According to the regression equation, for an increase of one dollar in earnings per share, there is a…arrow_forwardA financial analyst is examining the relationship between stock prices and earnings per share. She chooses publicly traded companies at random and records for each the company's current stock price and the company's earnings per share reported for the past 12 months. Her data are given below, with x denoting the earnings per share from the previous year, and y denoting the current stock price (both in dollars). Based on these data, she computes the least-squares regression line to be =y+−0.2130.046x. This line, along with a scatter plot of her data, is shown below. )From the regression equation, what is the predicted current stock price (in dollars) when the earnings per share is 52.82 dollars? (Round your answer to at least two decimal places.)arrow_forward
- Suppose Wesley is a marine biologist who is interested in the relationship between the age and the size of male Dungeness crabs. Wesley collects data on 1,000 crabs and uses the data to develop the following least-squares regression line where ?X is the age of the crab in months and ?ˆY^ is the predicted value of ?Y, the size of the male crab in cm. ?ˆ=8.2052+0.5693? What is the value of ?^ when a male crab is 21.7865 months old? Provide your answer with precision to two decimal places. Y^ = Interpret the value of Y^.arrow_forwardTable 14.17 The Least Squares Point Estimates for Exercise 14.51 Bo = 10.3676 (.3710) B1 = .0500 (<.001) B2 = 6.3218 (.0152) B3 = -11.1032 (.0635) B4 = -.4319 (.0002) Questions Using the t statistic and appropriate critical values, test Ho: βj = 0 versus Ha: βj ≠ 0 by setting α equal to .05. Which independent variables are significantly related to y in the model with α = .05? Using the t statistic and appropriate critical values, test Ho: βj = 0 versus Ha: βj ≠ 0 by setting α equal to .01. Which independent variables are significantly related to y in the model with α = .01? Find the p-value for testing Ho: βj = 0 versus Ha: βj ≠ 0 on the output. Using the p-value, determine whether we can reject Ho by setting α equal to .10, .05, .01, and .001. What do you conclude about the significance of the independent variables in the model? Calculate the 95 percent confidence interval for βj. Discuss one practical application of this interval. Calculate the 99 percent confidence interval for…arrow_forwardAnswer true or false to each of the following statements and explain your answers. a. In the forward selection method with tenter = 2.00, if the t-statistics for the three predictor variables that have not been entered are 1.72, −1.28, and 0.89, then the forward selection method stops. b. In applying the backward elimination method, a predictor variable is added to the regression equation if the absolute value of its t-statistic is greater than tremove. c. The maximum number of regression equations that need to be determined when selecting a regression equation by backward elimination is equal to the number of predictor variables.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Linear Algebra: A Modern IntroductionAlgebraISBN:9781285463247Author:David PoolePublisher:Cengage Learning
Linear Algebra: A Modern Introduction
Algebra
ISBN:9781285463247
Author:David Poole
Publisher:Cengage Learning
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