EBK MODERN BUSINESS STATISTICS WITH MIC
5th Edition
ISBN: 9780100475038
Author: williams
Publisher: YUZU
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Textbook Question
Chapter 14.5, Problem 23E
The data from exercise 1 follow.
- a. Compute the mean square error using equation (14.15).
- b. Compute the standard error of the estimate using equation (14.16).
- c. Compute the estimated standard deviation of b1 using equation (14.18).
- d. Use the t test to test the following hypotheses (α = .05):
- e. Use the F test to test the hypotheses in part (d) at a .05 level of significance. Present the results in the analysis of variance table format.
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From the data below;
x1
1
2
3
4
5
y1
3
7
5
11
14
a) Compute the mean square error
b) Compute the standard error of the estimate
c) Compute the estimated standard deviation of b1
d) Use the t-test to test the following hypothesis (α= .05)
Ho: β1 = 0
Ha: β1 ≠ 0
e) Use the F-test to test the hypotheses in part (d) at a 0.5 level of significance. Present in the analysis of variance format.
Consider the data.
xi
3
12
6
20
14
yi
60
40
65
5
15
(a)
Compute the mean square error using equation
s2 = MSE =
SSE
n − 2
.
(Round your answer to two decimal places.)
(b)
Compute the standard error of the estimate using equation
s =
MSE
=
SSE
n − 2
.
(Round your answer to three decimal places.)
(c)
Compute the estimated standard deviation of
b1
using equation
sb1 =
s
Σ(xi − x)2
.
(Round your answer to three decimal places.)
(d)
Use the t test to test the following hypotheses (? = 0.05):
H0:
β1
=
0
Ha:
β1
≠
0
Find the value of the test statistic. (Round your answer to three decimal places.)
Find the p-value. (Round your answer to four decimal places.)
p-value =
Use the F test to test the hypotheses in part (d) at a 0.05 level of significance. Present the results in the analysis of variance table format.
Set up the ANOVA table. (Round your values for MSE and F to two…
Consider the data.
xi
1
2
3
4
5
yi
3
7
5
11
14
(a)
Compute the mean square error using equation
s2 = MSE =
SSE
n − 2
.
(Round your answer to two decimal places.)
(b)
Compute the standard error of the estimate using equation
s =
MSE
=
SSE
n − 2
.
(Round your answer to three decimal places.)
(c) Compute the estimated standard deviation of
b1
using equation
sb1 =
s
Σ(xi − x)2
.
(Round your answer to three decimal places.)
(d)
Use the t test to test the following hypotheses (? = 0.05):
H0:
β1
=
0
Ha:
β1
≠
0
Find the value of the test statistic. (Round your answer to three decimal places.) =____
Find the p-value. (Round your answer to four decimal places.)
p-value = _____
State your conclusion.
(A) Reject H0. We cannot conclude that the relationship between x and y is significant.(B) Do not reject H0. We cannot conclude that the relationship between x and y is…
Chapter 14 Solutions
EBK MODERN BUSINESS STATISTICS WITH MIC
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 - Companies in the U.S. car rental market vary...Ch. 14.2 - Prob. 10E
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The estimated...Ch. 14.3 - Prob. 17ECh. 14.3 - Price and Quality of Headphones. The following...Ch. 14.3 - Sales Experience and Sales Performance. In...Ch. 14.3 - Price and Weight of Bicycles. Bicycling, the...Ch. 14.3 - Cost Estimation. An important application of...Ch. 14.3 - 22. Refer to exercise 9, where the following data...Ch. 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 - Prob. 26ECh. 14.5 - Prob. 27ECh. 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 - 32. The data from exercise 1...Ch. 14.6 - 33. The data from exercise 2...Ch. 14.6 - Prob. 34ECh. 14.6 - 35. The following data are the monthly salaries y...Ch. 14.6 - 36. In exercise 7, the data on y = annual sales ($...Ch. 14.6 - In exercise 5, the following data on x = the...Ch. 14.6 - Prob. 38ECh. 14.6 - 39. In exercise 12, the following data on x =...Ch. 14.7 - The commercial division of a real estate firm...Ch. 14.7 - Following is a portion of the regression output...Ch. 14.7 - Out-of-state tuition and fees at the top graduate...Ch. 14.7 - Auto Racing Helmet. Automobile racing,...Ch. 14.8 - Prob. 45ECh. 14.8 - Prob. 46ECh. 14.8 - Prob. 47ECh. 14.8 - Prob. 48ECh. 14.8 - Prob. 49ECh. 14.9 - Consider the following data for two variables, x...Ch. 14.9 - Prob. 51ECh. 14.9 - Predicting Charity Expenses. Charity Navigator is...Ch. 14.9 - Many countries, especially those in Europe, have...Ch. 14.9 - Prob. 54ECh. 14 - The Dow Jones Industrial Average (DJIA) and the...Ch. 14 - Prob. 56SECh. 14 - Prob. 57SECh. 14 - Machine Maintenance. Jensen Tire & Auto is in the...Ch. 14 - Bus Maintenance. The regional transit authority...Ch. 14 - Reuters reported the market beta for Xerox was...Ch. 14 - Used Car Mileage and Price. The Toyota Camry is...Ch. 14 - Prob. 62SECh. 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...
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