BASIC BUSINESS STATISTICS-STUD.SOLN.MAN
14th Edition
ISBN: 9780134685045
Author: BERENSON
Publisher: PEARSON
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Question
Chapter 14, Problem 21PS
a.
To determine
Perform a residual analysis.
b.
To determine
Perform Durbin Watson test if appropriate.
c.
To determine
Determine whether the regression assumptions are valid for the data.
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Part A, B, and C
Suppose the following regression equation was generated from sample data relating annual salary to experience, gender, and marital
status. Gender is represented by a dummy variable, FEMALE, where FEMALE, = 1 if employee i is female and FEMALE, = 0if
employee i is male. Marital status is represented by a dummy variable MARRIED, where MARRIED, = 1 if employee i is married and
MARRIED, = 0 f employee i is single.
SALARY, = 46722.906232 + 556.281090EXPERIENCE, - 2443.652040FEMALE, - 28.841453EXPERIENCE, FEMALE,
+ 10884.891808MARRIED, - 75.126684EXPERIENCE, MARRIED, - 14693.833888FEMALE, MARRIED, + e
According to the regression equation above, what is the estimated starting salary for married women? Round your answer to two decimal
places.
a. Round off in 4 decimal places. With complete solution and box the final answer.
Chapter 14 Solutions
BASIC BUSINESS STATISTICS-STUD.SOLN.MAN
Ch. 14 - For this problem, use the following multiple...Ch. 14 - For this problem, use the following multiple...Ch. 14 - A nonprofit analyst seeks to determine which...Ch. 14 - Profitability remains a challenge for banks and...Ch. 14 - The production of wine is a multibillion-dollar...Ch. 14 - Human resource managers face the business problem...Ch. 14 - Prob. 7PSCh. 14 - Prob. 8PSCh. 14 - The following ANOVA summary table is for a...Ch. 14 - The following ANOVA summary table is for a...
Ch. 14 - A financial analyst engaged in business valuation...Ch. 14 - In Problem 14.3 on page 541, you predicted...Ch. 14 - In Problem 14.5 on page 542, you used the...Ch. 14 - In Problem 14.4 on page 541, you used efficiency...Ch. 14 - In Problem 14.7 on page 542, you used the weekly...Ch. 14 - Prob. 16PSCh. 14 - Prob. 17PSCh. 14 - Prob. 18PSCh. 14 - In Problem 14.5 on page 542, you used the...Ch. 14 - Prob. 20PSCh. 14 - Prob. 21PSCh. 14 - Prob. 22PSCh. 14 - Prob. 23PSCh. 14 - Prob. 24PSCh. 14 - In Problem 14.3 on page 541, you predicted...Ch. 14 - In Problem on page 541, you used efficiency ratio...Ch. 14 - Prob. 27PSCh. 14 - In Problem 14.6 on page 542, you used full-time...Ch. 14 - Prob. 29PSCh. 14 - Prob. 30PSCh. 14 - The following is the ANOVA summary table for a...Ch. 14 - The following is the ANOVA summary table for a...Ch. 14 - In Problem 14.5 on page 542, you used alcohol...Ch. 14 - In Problem 14.4 on page 541, you used efficiency...Ch. 14 - Prob. 35PSCh. 14 - In Problem 14.6 on page 542, you used full-time...Ch. 14 - Prob. 37PSCh. 14 - Suppose X1 is a numerical variable and X2 is a...Ch. 14 - The chair of the accounting department plans to...Ch. 14 - A real estate association in a suburban community...Ch. 14 - In Problem 14.5 on page 542, you developed a...Ch. 14 - In mining engineering, holes are often drilled...Ch. 14 - The owner of a moving company typically has his...Ch. 14 - Prob. 44PSCh. 14 - Zagat’s publishes restaurant rating for various...Ch. 14 - In Problem 14.6 on page 542, you used full-time...Ch. 14 - In Problem 14.5 on page 542, the percentage of...Ch. 14 - Prob. 48PSCh. 14 - The director of a training program for a large...Ch. 14 - Prob. 50PSCh. 14 - Prob. 51PSCh. 14 - Prob. 52PSCh. 14 - Prob. 53PSCh. 14 - Prob. 54PSCh. 14 - Prob. 55PSCh. 14 - Prob. 56PSCh. 14 - Prob. 57PSCh. 14 - An automotive insurance company wants to predict...Ch. 14 - A marketing manager wants to predict customer with...Ch. 14 - A local supermarket manager wants to use two...Ch. 14 - Prob. 61PSCh. 14 - Prob. 62PSCh. 14 - Prob. 63PSCh. 14 - Prob. 64PSCh. 14 - Prob. 65PSCh. 14 - Prob. 66PSCh. 14 - Prob. 67PSCh. 14 - Prob. 68PSCh. 14 - Prob. 69PSCh. 14 - Prob. 70PSCh. 14 - Prob. 71PSCh. 14 - The owner of a moving company typically has his...Ch. 14 - Professional basketball has truly become a sport...Ch. 14 - A sample of 61 house recently listed for sale in...Ch. 14 - Measuring the height of a California redwood tree...Ch. 14 - A sample of 61 houses recently listed for sale in...Ch. 14 - Prob. 77PSCh. 14 - Referring to Problem 14.77, Suppose that an...Ch. 14 - Prob. 79PSCh. 14 - Prob. 80PSCh. 14 - Prob. 81PSCh. 14 - Prob. 82PSCh. 14 - Prob. 83PS
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- Using data from 50 workers, a researcher estimates Wage = Bo + B1Education + B2Experience + B3Age + ɛ, where Wage is the hourly wage rate and Education, Experience, and Age are the years of higher education, the years of experience, and the age of the worker, respectively. The regression results are shown in the following table. %3D Standard Error 4.12 t Stat p-Value 0.1449 0.0004 Coefficients 6.11 Intercept Education Experience Age 1.48 1.14 0.44 -0.02 0.30 0.18 0.07 3.80 2.44 -0.29 0.0184 0.7764 a-1. Interpret the point estimate for B1. O As Education increases by 1 year, Wage is predicted to increase by 1.14/hour. O As Education increases by 1 year, Wage is predicted to increase by 0.44/hour. O As Education increases by 1 year, Wage is predicted to increase by 1.14/hour, holding Age and Experience constant. O As Education increases by 1 year, Wage is predicted to increase by 0.44/hour, holding Age and Experience constant. a-2. Interpret the point estimate for B2. O As Experience…arrow_forwardIn an study similar to the one in Exercise 3, the relative humidity and ozone levels were measured for 120 days in another city. The MINITAB output follows. Assume that assumptions 1 through 4 on page 549 hold. The regression equation is Ozone = 29.7 - 0.135 Humidity Predictor Coef SE Coef тР Constant 29.703 2.066 14.38 0.000 Humidity -0.13468 0.03798 -3.55 0.001 S= 6.26R-Sq = 9.6 %R-Sq(adj) = 8.9 % What is the slope of the least-squares line? Find a 95% confidence interval for the slope. Perform a test of the null hypothesis that the slope is greater than or equal to -0.1. What is the P-value? a. Б. C.arrow_forward13. Examine the following regression equation and answer the questions that follow: Salary = 261,128 +91,569Goals + 16,346Assists - 585,560.Defenseman (2.789) (9.641) (3.301) (5.001) R² = 0.65 Salary = NHL Player's Salary in $ Goals Number of goals scored by that player Assists = Number of assists made by that player Defenseman = Takes on a value of 1 if player is a defenseman. Otherwise, the value of this variable is zero. The numbers in brackets are t-statistics for the variables above them. (a) What salary will an offensive player make that scores no goals and has no assists? Interpret the meaning of the R² in words. (b) (c) What is the increase in salary from scoring one more goal (holding the number of assists constant)?arrow_forward
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