A consulting group was hired by the Human Resources Department at General Mills, Inc. to survey company employees regarding their degree of satisfaction with their quality of life. A special index, called the index of satisfaction, was used to measure satisfaction. Six factors were studied, namely, age at the time of first marriage (x1), annual income (x2), number of children living (x3), value of all assets (x4), status of health in the form of an index (x5), and the average number of social activities per week—such as bowling and dancing (x6). Suppose the multiple regression equation is:
- a. What is the estimated index of satisfaction for a person who first married at 18, has an annual income of $26,500, has three children living, has assets of $156,000, has an index of health status of 141, and has 2.5 social activities a week on the average?
- b. Which would add more to satisfaction, an additional income of $10,000 a year or two more social activities a week?
Trending nowThis is a popular solution!
Chapter 14 Solutions
EBK STATISTICAL TECHNIQUES IN BUSINESS
- How many independent variables entered in the overall model and was/were not able to enter? What is the coefficient of determination in the overall model?arrow_forwardWhat are two variables that will be can be used in a chi-square analysis based in social work? What would the best attributes be for each variable?arrow_forwardCalculate the coefficient of determination for the data, and interpret the value in context.arrow_forward
- Use regression statistics from TI84 screen.arrow_forwardHow to construct Scatterplot?arrow_forwardAssume the professor of a particular course is male, and interpret the coefficient on FemaleStudent. What is the predicted difference in performance between a female student and a male student? What's the magnitude of the coefficient?arrow_forward
- List one possible confounding variable for this analysis and explain what impact it might have on the variables of interest.arrow_forwardCreate a Scatterplot of y against full-time undergraduate student-to-faculty ratio.arrow_forwardAccording to a report published by the center for Disease Control (CDC) in 2011, approximately one in two people with asthma had an asthma attack in2008.arrow_forward
- If a study determines the difference in average salary for sub populations of people with blue eyes and people with brown eyes is not significant, then the populations of blue eyed people and brown eyed people are?arrow_forwardDescribe about the three positive relationships of Scatterplots?arrow_forwardWhich number has the least value and why?arrow_forward