The number of models are fitted to the data in step 1. To Obtain: The form of the model.

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Answer 1

Question

Chapter 12, Problem 12.155ACB

a.

To determine

To Find: The number of models are fitted to the data in step 1.

To Obtain: The form of the model.

b.

To determine

To Find: The number of models are fitted to the data in step 2.

To Obtain: The form of the model.

c.

To determine

To Find: The number of models are fitted to the data in step 3.

To Obtain: The form of the model.

To Determine: The "best" independent variable selected in this step.

d.

To determine

To explain: How the procedure determines when to stop adding independent variables to the model.

e.

To determine

To Describe: The two major drawbacks to using the final stepwise model as the best model for job preference score y.

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An analyst fits the following regression model using 1,000 sample data: Profit = 30.23 + 20.62 Service Quality + 5.25 Product Quality + ε The Service Quality was recorded on a 6-point Likert scale by their customers, while the Product Quality was rated at 0 – 100 marks by the engineers. The analyst finds that the p-value of the Global F test is 0.000001, and the p-values of the two individual t tests are 0.045 and 0.039 respectively. The 4 assumptions about the random error term are all satisfied. Taking 5% significance level, the analyst concludes that Product Quality is a less important factor than Service Quality in affecting the Profit, hence he recommends the company to put all resources in enhancing the Service Quality in order to maximize Profit. Do you agree with his conclusion? List three reasons to support your answer

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Answer 2

Question

Chapter 12, Problem 12.155ACB

a.

To determine

To Find: The number of models are fitted to the data in step 1.

To Obtain: The form of the model.

b.

To determine

To Find: The number of models are fitted to the data in step 2.

To Obtain: The form of the model.

c.

To determine

To Find: The number of models are fitted to the data in step 3.

To Obtain: The form of the model.

To Determine: The "best" independent variable selected in this step.

d.

To determine

To explain: How the procedure determines when to stop adding independent variables to the model.

e.

To determine

To Describe: The two major drawbacks to using the final stepwise model as the best model for job preference score y.

Expert Solution & Answer

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Answer 3

Question

Chapter 12, Problem 12.155ACB

a.

To determine

To Find: The number of models are fitted to the data in step 1.

To Obtain: The form of the model.

b.

To determine

To Find: The number of models are fitted to the data in step 2.

To Obtain: The form of the model.

c.

To determine

To Find: The number of models are fitted to the data in step 3.

To Obtain: The form of the model.

To Determine: The "best" independent variable selected in this step.

d.

To determine

To explain: How the procedure determines when to stop adding independent variables to the model.

e.

To determine

To Describe: The two major drawbacks to using the final stepwise model as the best model for job preference score y.

Expert Solution & Answer

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Answer 4

Question

Chapter 12, Problem 12.155ACB

a.

To determine

To Find: The number of models are fitted to the data in step 1.

To Obtain: The form of the model.

b.

To determine

To Find: The number of models are fitted to the data in step 2.

To Obtain: The form of the model.

c.

To determine

To Find: The number of models are fitted to the data in step 3.

To Obtain: The form of the model.

To Determine: The "best" independent variable selected in this step.

d.

To determine

To explain: How the procedure determines when to stop adding independent variables to the model.

e.

To determine

To Describe: The two major drawbacks to using the final stepwise model as the best model for job preference score y.

Expert Solution & Answer

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Answer 5

Chapter 12, Problem 12.155ACB

a.

To determine

To Find: The number of models are fitted to the data in step 1.

To Obtain: The form of the model.

b.

To determine

To Find: The number of models are fitted to the data in step 2.

To Obtain: The form of the model.

c.

To determine

To Find: The number of models are fitted to the data in step 3.

To Obtain: The form of the model.

To Determine: The "best" independent variable selected in this step.

d.

To determine

To explain: How the procedure determines when to stop adding independent variables to the model.

e.

To determine

To Describe: The two major drawbacks to using the final stepwise model as the best model for job preference score y.

Answer 6

Chapter 12, Problem 12.155ACB

a.

To determine

To Find: The number of models are fitted to the data in step 1.

To Obtain: The form of the model.

Answer 7

Chapter 12, Problem 12.155ACB

a.

To determine

To Find: The number of models are fitted to the data in step 1.

To Obtain: The form of the model.

Answer 8

b.

To determine

To Find: The number of models are fitted to the data in step 2.

To Obtain: The form of the model.

Answer 9

b.

To determine

To Find: The number of models are fitted to the data in step 2.

To Obtain: The form of the model.

Answer 10

c.

To determine

To Find: The number of models are fitted to the data in step 3.

To Obtain: The form of the model.

To Determine: The "best" independent variable selected in this step.

Answer 11

c.

To determine

To Find: The number of models are fitted to the data in step 3.

To Obtain: The form of the model.

To Determine: The "best" independent variable selected in this step.

Answer 12

d.

To determine

To explain: How the procedure determines when to stop adding independent variables to the model.

Answer 13

d.

To determine

To explain: How the procedure determines when to stop adding independent variables to the model.

Answer 14

e.

To determine

To Describe: The two major drawbacks to using the final stepwise model as the best model for job preference score y.

Answer 15

e.

To determine

To Describe: The two major drawbacks to using the final stepwise model as the best model for job preference score y.

Answer 16

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Answer 17

Expert Solution & Answer

Answer 18

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Answer 19

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The number of models are fitted to the data in step 1. To Obtain: The form of the model.

Solution Summary: The author explains that there are 7 one-variable models fitted to the data in step 1. The form of the model for step 1 is E(y)=beta _0

Concept explainers

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To Find: The number of models are fitted to the data in step 1.

To Obtain: The form of the model.

To Find: The number of models are fitted to the data in step 2.

To Obtain: The form of the model.

To Find: The number of models are fitted to the data in step 3.

To Obtain: The form of the model.

To Determine: The "best" independent variable selected in this step.

To explain: How the procedure determines when to stop adding independent variables to the model.

To Describe: The two major drawbacks to using the final stepwise model as the best model for job preference score y.

Want to see the full answer?

Chapter 12 Solutions

The number of models are fitted to the data in step 1. To Obtain: The form of the model.

Solution Summary: The author explains that there are 7 one-variable models fitted to the data in step 1. The form of the model for step 1 is E(y)=beta _0

Concept explainers

Videos

To Find: The number of models are fitted to the data in step 1. To Obtain: The form of the model.

To Find: The number of models are fitted to the data in step 2. To Obtain: The form of the model.

To Find: The number of models are fitted to the data in step 3. To Obtain: The form of the model. To Determine: The "best" independent variable selected in this step.

To explain: How the procedure determines when to stop adding independent variables to the model.

To Describe: The two major drawbacks to using the final stepwise model as the best model for job preference score y.

Want to see the full answer?

Chapter 12 Solutions

To Find: The number of models are fitted to the data in step 1.

To Obtain: The form of the model.

To Find: The number of models are fitted to the data in step 2.

To Obtain: The form of the model.

To Find: The number of models are fitted to the data in step 3.

To Obtain: The form of the model.

To Determine: The "best" independent variable selected in this step.