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 14.5, Problem 28E
Broker Satisfaction Conclusion. In exercise 8, ratings data on x = the quality of the speed of execution and y = overall satisfaction with electronic trades provided the estimated regression equation
8. Broker Satisfaction. The American Association of Individual Investors (AAII) On-Line Discount Broker Survey polls members on their experiences with discount brokers. As part of the survey, members were asked to rate the quality of the speed of execution with their broker as well as provide an overall satisfaction rating for electronic trades. Possible responses (scores) were no opinion (0), unsatisfied (l), somewhat satisfied (2), satisfied (3), and very satisfied (4). For each broker summary scores were computed by calculating a weighted average of the scores provided by each respondent. A portion of the survey results follow (AAII website).
- a. Develop a
scatter diagram for these data with the speed of execution as the independent variable. - b. What does the scatter diagram developed in part (a) indicate about the relationship between the two variables?
- c. Develop the least squares estimated regression equation.
- d. Provide an interpretation for the slope of the estimated regression equation.
- e. Suppose Zecco.com developed new software to increase their speed of execution rating. If the new software is able to increase their speed of execution rating from the current value of 2.5 to the average speed of execution rating for the other 10 brokerage firms that were surveyed, what value would you predict for the overall satisfaction rating?
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Q.1.1 By completing the table below and then applying the relevant formulae, determine the line of best fit for this bivariate data set.
Do NOT change the units for the variables.
X
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EX2
EXY=
Q.1.2 Estimate the number of units of the good that would have been produced last month by an employee with 8 years of experience.
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Interpret your answer.
Q.1.4 Compute the coefficient of determination for the data set.
Interpret your answer.
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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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