STATISTICAL TECH IN BUSN CONNECT <LCPO>
18th Edition
ISBN: 9781266505942
Author: Lind
Publisher: MCG
expand_more
expand_more
format_list_bulleted
Concept explainers
Textbook Question
Chapter 14, Problem 1.6PT
Given the following regression equation, Ŷ = 7 − .5X, and that the coefficient of determination is .81, answer questions 6, 7, and 8.
6. At what point does the regression equation cross the Y-axis?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
A data set consists of these points: (2, 4), (4, 7), (5, 12). Malinda found the
regression equation to be ŷ = 2.5x- 1.5. Is she correct?
A. No. Both a and bare incorrect.
O B. No. The value for b is incorrect.
C. No. The value for a is incorrect.
O D. Yes. This is the correct equation.
10:56
AA
www-awn.aleks.com
O REGRESSION AND CORRELATION
Predictions from the least-squares regressio.
OC OO D
The managers of an electric utility wish to examine the relationship
between temperature and electricity use in the utility's service region
during the summer months. In particular, the managers wish to be able
to predict total electricity use for a day from the maximum temperature
that day. The bivariate data below give the maximum temperature (in
degrees Fahrenheit) and the electricity use (in thousands of kilowatt
hours) of electricity generated and sold for a random sample of sixteen
summer days. A best-fitting line for the data, obtained from least-
squares regression, is given by =53.28 + 3.07.x, in which x denotes the
maximum temperature and y denotes the electricity use. This line is
shown in the Figure 1 scatter plot.
Temperature, x Electricity use, y
(in degrees
Fahrenheit)
(in thousands of
kilowatt hours)
78.4
295.4
72.5
232.1
00-
72.7
276.8
94.5
363.4
375
94.8
335.6…
Given the following multiple regression equation : y = 122+ 2 x, +1x2, where Y:Total expenses, Xị: income
and X2 wealth. If a person has an income of $1132 and a wealth of $2563. Then their total expenses
would be :
Select one:
O a. -4705.00
b. 6380.00
OC. 4949.00
O d. 4827.00
Next page
ACTIVITY
NEXT ACTIVITY
Jump to.
Chapter 14 Solutions
STATISTICAL TECH IN BUSN CONNECT <LCPO>
Ch. 14 - There are many restaurants in northeastern South...Ch. 14 - Prob. 1ECh. 14 - Thompson Photo Works purchased several new, highly...Ch. 14 - A consulting group was hired by the Human...Ch. 14 - Cellulon, a manufacturer of home insulation, wants...Ch. 14 - Refer to Self-Review 141 on the subject of...Ch. 14 - Prob. 5ECh. 14 - Prob. 6ECh. 14 - Prob. 3SRCh. 14 - Given the following regression output, answer the...
Ch. 14 - The following regression output was obtained from...Ch. 14 - A study by the American Realtors Association...Ch. 14 - The manager of High Point Sofa and Chair, a large...Ch. 14 - Prob. 10ECh. 14 - Prob. 11ECh. 14 - A real estate developer wishes to study the...Ch. 14 - Prob. 13CECh. 14 - Prob. 14CECh. 14 - Prob. 15CECh. 14 - Prob. 16CECh. 14 - The district manager of Jasons, a large discount...Ch. 14 - Suppose that the sales manager of a large...Ch. 14 - The administrator of a new paralegal program at...Ch. 14 - Prob. 20CECh. 14 - Prob. 21CECh. 14 - A regional planner is studying the demographics of...Ch. 14 - Great Plains Distributors, Inc. sells roofing and...Ch. 14 - Prob. 24CECh. 14 - Prob. 25CECh. 14 - Prob. 26CECh. 14 - Prob. 28CECh. 14 - Prob. 29CECh. 14 - The director of special events for Sun City...Ch. 14 - Prob. 31CECh. 14 - Prob. 32CECh. 14 - Prob. 33DACh. 14 - Prob. 34DACh. 14 - Prob. 35DACh. 14 - Prob. 1PCh. 14 - Quick-print firms in a large downtown business...Ch. 14 - The following ANOVA output is given. a. Compute...Ch. 14 - Prob. 1CCh. 14 - Prob. 2CCh. 14 - Prob. 3CCh. 14 - In a scatter diagram, the dependent variable is...Ch. 14 - What level of measurement is required to compute...Ch. 14 - If there is no correlation between two variables,...Ch. 14 - Which of the following values indicates the...Ch. 14 - Under what conditions will the coefficient of...Ch. 14 - Given the following regression equation, = 7 ...Ch. 14 - Given the following regression equation, = 7 ...Ch. 14 - Given the following regression equation, = 7 ...Ch. 14 - Prob. 1.9PTCh. 14 - In a multiple regression equation, what is the...Ch. 14 - Prob. 1.11PTCh. 14 - Prob. 1.12PTCh. 14 - For a dummy variable, such as gender, how many...Ch. 14 - What is the term given to a table that shows all...Ch. 14 - If there is a linear relationship between the...Ch. 14 - Given the following regression analysis output: a....Ch. 14 - Given the following regression analysis output. a....
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
- Consider the following regression equation: y = -5.3 + 8.8x.What does 8.8 depict in the regression equation above? a. None of the options. b. The direction of the line. c. The point where x = 0. d. The y-intercept.arrow_forwardGiven the following multiple regression equation : y = 122+ 2 x1 + 1 x2, where Y:Total expenses, X1: income and X2 wealth . If a person has an income of $1132 and a wealth of $2563. Then their total expenses would be : Select one: Oa. -4705.00 Ob. 6380.00 OC. 4949.00 Od. 4827.00 Next page ACTIVITY NEXT ACTIVITY Jump to...arrow_forwardConsider the following regression equation: y = -3.9 + 7.2x What does 7.2 depict in the regression equation above? a) The direction of the line. b) The y-intercept. c) The point where x = 0. d) The y when x = 7.2.arrow_forward
- The relationship between income and expenditure y was estimated by the following regression equation. ý = 300 + 0.9.r If a person has income 3500, what is the predicted expenditure? Select one: a. 3450 O b. 2820 c. 2280 d. 3180arrow_forwardGiven the regression equation Y = 43 - 10X, the change in Y when X changes by -3 is A. -30 B. 30 C. -13 D. 13arrow_forwardQ1: Given the regression equation Y=40 - 4X. Find the value of the dependent variable Y for X =0,1,2,3,4,…,10 and plot the graph of X and Y on actual graph paper; also interpret it.arrow_forward
- Please answer A & B and show the solution. Thank you!arrow_forwardRefer to the data set: Part a: Make a scatterplot and determine which type of model best fits the data.Part b: Find the regression equation, round to two decimal places if necessary.Part c: Use the equation from Part b to determine y when x = -3.6.arrow_forwardA researcher wants to determine if the exam scores of the students are dependent on the length of time spent in studying the subject. Ten students in a certain class were taken and the results are shown in the table below where X is the time spent in studying the subject in hours and Y is the examination scores.Determine the regression equation Y = a + bX. Y = 695.7X + 51.6 Y = –7.67 + 0.12X Y = 69.6X + 52 Y = 69.6 + 5.2Xarrow_forward
- Find the regression equation, letting the first variable be the predictor (x) variable. Find the best predicted Nobel Laureate rate for a country that has 78.3 Internet users per 100 people. How does it compare to the country's actual Nobel Laureate rate of 1.1 per 10 million people? a. Find the equation of the regression line. y= (Round the constant to one decimal place as needed. Round the coefficient to three decimal places as needed.) b. The best predicted number of Nobel Laureates when the number of internet users per 100 is 78.3 is (Round to one decimal place as needed.)arrow_forwardThe following data show the brand, price ($), and the overall score for six stereo headphones that were tested by Consumer Reports (Consumer Reports website). The overall score is based on sound quality and effectiveness of ambient noise reduction. Scores range from 0 (lowest) to 100 (highest). The estimated regression equation these data is ŷ = 25.8023 +0.2920x, where x = price ($) and y = overall score. a. Compute SST, SSR, and SSE (to 3 decimals). SST = Brand Bose Scullcandy Koss Phillips/O'Neill Denon JVC SSR = SSE = b. Compute the coefficient of determination ² (to 3 decimals). -p² = Price ($) 180 160 95 70 70 25 Score KATEG 75 71 61 57 40 26 Comment on the goodness of fit. Hint: If r² is greater than 0.70, the estimated regression equation provides a good fit. The least squares line - Select your answer - a good fit as - Select your answer - proportion of the variability in y has been explained by the least squares line. c. What is the value of the sample correlation coefficient…arrow_forwardA table of data points is given below. a. Find the regression equation for the data points. Use the formulas Sxx=∑ xi−x2 and Sxy=∑ xi−x yi−y to obtain Sxx and Sxy. b. Graph the regression equation and data points. x 1 2 3 y 6 5 10 a. The regression equation is y= + () x. (Simplify your answers. Type integers or decimals. Do not round.)arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillLinear Algebra: A Modern IntroductionAlgebraISBN:9781285463247Author:David PoolePublisher:Cengage LearningAlgebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Linear Algebra: A Modern Introduction
Algebra
ISBN:9781285463247
Author:David Poole
Publisher:Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:9781133382119
Author:Swokowski
Publisher:Cengage
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