EBK STATISTICAL TECHNIQUES IN BUSINESS
17th Edition
ISBN: 9781259924163
Author: Lind
Publisher: MCGRAW HILL BOOK COMPANY
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Textbook Question
Chapter 14, Problem 22CE
A regional planner is studying the demographics of nine counties in the eastern region of an Atlantic seaboard state. She has gathered the following data:
- a. Is there a linear relationship between the median income and median age?
- b. Which variable is the “dependent” variable?
- c. Use statistical software to determine the regression equation. Interpret the value of the slope in a simple regression equation.
- d. Include the aspect that the county is “coastal” or not in a multiple linear
regression analysis using a “dummy” variable. Does it appear to be a significant influence on incomes? - e. Test each of the individual coefficients to see if they are significant.
- f. Make a plot of the residuals and comment on whether they appear to follow a
normal distribution. - g. Plot the residuals versus the fitted values. Do they seem to have the same amount of variation?
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Write a sentence to explain the meaning of the standard error of the slope of the regression line,
SEb1=1.581, and the corresponding P-value.
Suppose that a kitchen cabinet warehouse company would like to be able to predict the area of a customer’s kitchen using the number of cabinets and the kitchen ceiling height. To do so data is collected on the following variables from a random sample of customers:
Area – area of the kitchen in square feet
Height – ceiling height in the kitchen (from floor to ceiling) in inches
Cabinets – number of cabinets in the kitchen
Suppose that a multiple linear regression model was fit to the data and that the following output resulted:
Coefficients:
(Intercept)HeightCabinets
Estimate-57.98771.2760.3393
Std. Error8.63820.26430.1302
t value -6.7134.8282.607
Pr(>|t|)2.75e-074.44e-050.0145
What is the predicted area of a kitchen with a height of 96 inches and 10 cabinets? Report your answer to 1 decimal place.
square feet
Suppose that a kitchen cabinet warehouse company would like to be able to predict the area of a customer’s kitchen using the number of cabinets and the kitchen ceiling height. To do so data is collected on the following variables from a random sample of customers:
Area – area of the kitchen in square feet
Height – ceiling height in the kitchen (from floor to ceiling) in inches
Cabinets – number of cabinets in the kitchen
Suppose that a multiple linear regression model was fit to the data and that the following output resulted:
Coefficients:
(Intercept)HeightCabinets
Estimate-57.98771.2760.3393
Std. Error8.63820.26430.1302
t value -6.7134.8282.607
Pr(>|t|)2.75e-074.44e-050.0145
10
Question 10
This is not a form; we suggest that you use the browse mode and read all parts of the question carefully.
Which of the following is the correct interpretation of the coefficient for Cabinets?
For a kitchen with a given ceiling height, the average number of cabinets…
Chapter 14 Solutions
EBK STATISTICAL TECHNIQUES IN BUSINESS
Ch. 14 - There are many restaurants in northeastern South...Ch. 14 - The director of marketing at Reeves Wholesale...Ch. 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 - An investment advisor is studying the relationship...Ch. 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....
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