Essentials Of Statistics For Business & Economics
9th Edition
ISBN: 9780357045435
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: South-Western College Pub
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Chapter 14.3, Problem 16E
a.
To determine
Calculate SSE, SST, and SSR.
b.
To determine
Find the coefficient of determination.
Comment on the goodness of fit.
c.
To determine
Compute the sample
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The table below gives the number of hours five randomly selected students spent studying and their corresponding midterm exam grades. Using this data, consider the equation of the regression line. ^y=b0+b1x for predicting the midterm exam grade that a student will earn based on the number of hours spent studying. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.
Hours Studying
2
3
4
5
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Midterm Grades
60
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100
Find the error prediction when x= 5. Round your answer to three decimal places.
* What we know:
Estimated slope b1=9.700Estimated intercept b0=46.200
The table below gives the number of absences and the overall grade in the class for seven randomly selected students. Based on this data, consider the equation of the regression line, yˆ=b0+b1x�^=�0+�1�, for using the number of absences to predict a student's overall grade in the class. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.
Number of Absences Grade1 3.72 3.33 3.14 2.96 2.47 2.28 1.9
The table below gives the number of hours seven randomly selected students spent studying and their corresponding midterm exam grades. Using this data, consider the equation of the regression line, yˆ=b0+b1x�^=�0+�1�, for predicting the midterm exam grade that a student will earn based on the number of hours spent studying. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.
Hours Studying
1
2
3
3.5
4
4.5
5
Midterm Grades
60
66
73
76
78
84
90
Table
Copy Data
Step 1 of 6:
Find the estimated slope. Round your answer to three decimal places.
Chapter 14 Solutions
Essentials Of Statistics For Business & Economics
Ch. 14.2 - Given are five observations for two variables, x...Ch. 14.2 - Given are five observations for two variables, x...Ch. 14.2 - Given are five observations collected in a...Ch. 14.2 - Retail and Trade: Female Managers. The following...Ch. 14.2 - Production Line Speed and Quality Control. Brawdy...Ch. 14.2 - The National Football League (NFL) records a...Ch. 14.2 - Sales Experience and Performance. A sales manager...Ch. 14.2 - Broker Satisfaction. The American Association of...Ch. 14.2 - Estimating Landscaping Expenditures. David’s...Ch. 14.2 - Age and the Price of Wine. For a particular red...
Ch. 14.2 - Laptop Ratings. To help consumers in purchasing a...Ch. 14.2 - Stock Beta. In June of 2016, Yahoo Finance...Ch. 14.2 - Auditing Itemized Tax Deductions. To the Internal...Ch. 14.2 - Distance and Absenteeism. A large city hospital...Ch. 14.3 - 15. The data from exercise 1...Ch. 14.3 - Prob. 16ECh. 14.3 - The data from exercise 3 follow.
The estimated...Ch. 14.3 - Price and Quality of Headphones. The following...Ch. 14.3 - Prob. 19ECh. 14.3 - Price and Weight of Bicycles. Bicycling, the...Ch. 14.3 - Cost Estimation. An important application of...Ch. 14.3 - Prob. 22ECh. 14.5 - The data from exercise 1 follow.
Compute the mean...Ch. 14.5 - The data from exercise 2 follow.
Compute the mean...Ch. 14.5 - The data from exercise 3 follow.
What is the...Ch. 14.5 - Headphones Conclusion. In exercise 18, the data on...Ch. 14.5 - College CPA and Salary. Do students with higher...Ch. 14.5 - Broker Satisfaction Conclusion. In exercise 8,...Ch. 14.5 - Cost Estimation Conclusion. Refer to exercise 21,...Ch. 14.5 - Significance of Fleet Size on Rental Car Revenue....Ch. 14.5 - Significance of Racing Bike Weight on Price. In...Ch. 14.6 - The data from exercise 1 follow. xi 1 2 3 4 5 yi 3...Ch. 14.6 - Prob. 33ECh. 14.6 - 34. The data from exercise 3...Ch. 14.6 - Restaurant Lines. Many small restaurants in...Ch. 14.6 - 36. In exercise 7, the data on y = annual sales ($...Ch. 14.6 - In exercise 13, data were given on the adjusted...Ch. 14.6 - Prob. 38ECh. 14.6 - Entertainment Spend. The Wall Street Journal asked...Ch. 14.7 - Apartment Selling Price. The commercial division...Ch. 14.7 - Computer Maintenance. Following is a portion of...Ch. 14.7 - Annual Sales and Salesforce. A regression model...Ch. 14.7 - Estimating Setup Time. Sherry is a production...Ch. 14.7 - Auto Racing Helmet. Automobile racing,...Ch. 14.8 - Given are data for two variables, x and y. a....Ch. 14.8 - Prob. 46ECh. 14.8 - Restaurant Advertising and Revenue. Data on...Ch. 14.8 - Experience and Sales. Refer to exercise 7, where...Ch. 14.8 - Buy Versus Rent. Occasionally, it has been the...Ch. 14.9 - Consider the following data for two variables, x...Ch. 14.9 - Consider the following data for two variables, x...Ch. 14.9 - Predicting Charity Expenses. Charity Navigator is...Ch. 14.9 - Supermarket Checkout Lines. Retail chain Kroger...Ch. 14.9 - Valuation of a Major League Baseball Team. The...Ch. 14 - 55. Does a high value of r2 imply that two...Ch. 14 - Prob. 56SECh. 14 - What is the purpose of testing whether 1 = 0? If...Ch. 14 - Stock Market Performance. The Dow Jones Industrial...Ch. 14 - Home Sire and Price. Is the number of square feet...Ch. 14 - Online Education. One of the biggest changes in...Ch. 14 - Machine Maintenance. Jensen Tire & Auto is in the...Ch. 14 - Production Rate and Quality Control. In a...Ch. 14 - Absenteeism and Location. A sociologist was hired...Ch. 14 - Bus Maintenance. The regional transit authority...Ch. 14 - Studying and Grades. A marketing professor at...Ch. 14 - Market Beta. Market betas for individual stocks...Ch. 14 - Income and Percent Audited. The Transactional...Ch. 14 - Used Car Mileage and Price. The Toyota Camry is...Ch. 14 - One measure of the risk or volatility of an...Ch. 14 - As part of a study on transportation safety, the...Ch. 14 - Consumer Reports tested 166 different...Ch. 14 - When trying to decide what car to buy, real value...Ch. 14 - Buckeye Creek Amusement Park is open from the...
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The table below gives the number of hours seven randomly selected students spent studying and their corresponding midterm exam grades. Using this data, consider the equation of the regression line, yˆ=b0+b1x�^=�0+�1�, for predicting the midterm exam grade that a student will earn based on the number of hours spent studying. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.
Hours Studying
11
1.51.5
2.52.5
33
44
4.54.5
55
Midterm Grades
6666
6969
7575
7979
9090
9595
9898
Find the estimated slope. Round your answer to three decimal places.
Find the estimated y-intercept. Round your answer to three decimal places.
Determine if the statement "Not all points predicted by the linear model fall on the same line" is true or false.…
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The table below gives the number of hours seven randomly selected students spent studying and their corresponding midterm exam grades. Using this data, consider the equation of the regression line, yˆ=b0+b1x�^=�0+�1�, for predicting the midterm exam grade that a student will earn based on the number of hours spent studying. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.
Hours Studying
1
2
3
3.5
4
4.5
5
Midterm Grades
60
66
73
76
78
84
90
Step 2 of 6:
Find the estimated y-intercept. Round your answer to three decimal places.
Step 3 of 6:
Find the estimated value of y when x=2�=2. Round your answer to three decimal places.
Step 4 of 6:
Substitute the values you found in steps 1 and 2 into the equation for the regression line to find the estimated…
arrow_forward
The table below gives the number of hours ten randomly selected students spent studying and their corresponding midterm exam grades. Using this data, consider the equation of the regression line, yˆ=b0+b1x, for predicting the midterm exam grade that a student will earn based on the number of hours spent studying. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.
Hours Studying
0
0.5
1.5
2
2.5
3
4.5
5
5.5
6
Midterms Grades
60
63
64
69
73
76
82
90
91
95
Step 1 of 6:
Find the estimated slope. Round your answer to three decimal places.
Step 2 of 6:
Find the estimated y-intercept. Round your answer to three decimal places.
Step 3 of 6:
Determine if the statement "All points predicted by the linear model fall on the same line" is true or false
Step 4 of 6:…
arrow_forward
The table below gives the number of hours ten randomly selected students spent studying and their corresponding midterm exam grades. Using this data, consider the equation of the regression line, y^=b0+b1x, for predicting the midterm exam grade that a student will earn based on the number of hours spent studying. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.
Hours Studying
0
1
2
2.5
3
3.5
4
4.5
5.5
6
Midterm Grades
61
64
65
66
71
79
84
88
94
98
Summation Table
x
y
xy
x2
y2
Student 1
0.0
61
0.0
0.00
3721
Student 2
1.0
64
64.0
1.00
4096
Student 3
2.0
65
130.0
4.00
4225
Student 4
2.5
66
165.0
6.25
4356
Student 5
3.0
71
213.0
9.00
5041
Student 6
3.5
79
276.5
12.25
6241
Student 7
4.0
84
336.0
16.00
7056
Student 8
4.5
88
396.0
20.25
7744…
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The table below gives the list price and the number of bids received for five randomly selected items sold through online auctions. Using this data, consider the equation of the regression line, yˆ=b0+b1x for predicting the number of bids an item will receive based on the list price. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.
Price in Dollars
3434
4040
4141
4444
4848
Number of Bids
11
22
33
44
55
Table
Step 4 of 6: Determine the value of the dependent variable yˆ at x=0.
a.) b0
b). b1
c). x
d). y
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The table below gives the number of hours five randomly selected students spent studying and their corresponding midterm exam grades. Using this data, consider the equation of the regression line, y^=b0+b1x, for predicting the midterm exam grade that a student will earn based on the number of hours spent studying. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.
Hours Studying
1
2
4
5
6
Midterm Grades
67
68
70
79
87
Summation Table
x
y
xy
x2
y2
Student 1
1
67
67
1
4489
Student 2
2
68
136
4
4624
Student 3
4
70
280
16
4900
Student 4
5
79
395
25
6241
Student 5
6
87
522
36
7569
Sum
18
371
1400
82
27823
Step 1 of 6:
Find the estimated slope. Round your answer to three decimal places.
Step 2 of 6:
Find the estimated y-intercept. Round your…
arrow_forward
After performing a statistical regression on a set of data the value of the correlation coefficient r was -0.2041. What does that imply about the data?
arrow_forward
The table below gives the number of hours seven randomly selected students spent studying and their corresponding midterm exam grades. Using this data, consider the equation of the regression line, yˆ=b0+b1x, for predicting the midterm exam grade that a student will earn based on the number of hours spent studying. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.
Hours Studying
0.5
1
1.5
2
3
3.5
4.5
Midterm Grades
63
66
68
72
74
93
94
Table
Step 4 of 6 :
Determine if the statement "Not all points predicted by the linear model fall on the same line" is true or false.
arrow_forward
The table below gives the number of hours seven randomly selected students spent studying and their corresponding midterm exam grades. Using this data, consider the equation of the regression line, yˆ=b0+b1x, for predicting the midterm exam grade that a student will earn based on the number of hours spent studying. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.
Hours Studying
1
1.5
2
2.5
3
3.5
4.5
Midterm Grades
61
62
75
77
79
83
88
Table
Step 6 of 6 :
Find the value of the coefficient of determination. Round your answer to three decimal places.
arrow_forward
The table below gives the number of hours seven randomly selected students spent studying and their corresponding midterm exam grades. Using this data, consider the equation of the regression line, yˆ=b0+b1x, for predicting the midterm exam grade that a student will earn based on the number of hours spent studying. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.
Hours Studying
1
1.5
2
2.5
3
3.5
4.5
Midterm Grades
61
62
75
77
79
83
88
Table
Step 1 of 6 :
Find the estimated slope, y intercept and correlation cofficient. Round your answer to three decimal places.
arrow_forward
The table below gives the number of hours seven randomly selected students spent studying and their corresponding midterm exam grades. Using this data, consider the equation of the regression line, yˆ=b0+b1x, for predicting the midterm exam grade that a student will earn based on the number of hours spent studying. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.
Hours Studying
1
2.5
3
3.5
4
4.5
5
Midterm Grades
72
78
83
91
95
96
97
Table
Step 2 of 6 :
Find the estimated y-intercept. Round your answer to three decimal places.
arrow_forward
The table below gives the number of hours seven randomly selected students spent studying and their corresponding midterm exam grades. Using this data, consider the equation of the regression line, yˆ=b0+b1x, for predicting the midterm exam grade that a student will earn based on the number of hours spent studying. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.
Hours Studying
1
2.5
3
3.5
4
4.5
5
Midterm Grades
72
78
83
91
95
96
97
Table
Step 1 of 6 :
Find the estimated slope. Round your answer to three decimal places.
arrow_forward
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