EBK MODERN BUSINESS STATISTICS WITH MIC
5th Edition
ISBN: 9780100475038
Author: williams
Publisher: YUZU
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Chapter 14.6, Problem 35E
The following data are the monthly salaries y and the grade point averages x for students who obtained a bachelor’s degree in business administration.
| GPA | Monthly Salary ($) |
| 2.6 | 3600 |
| 3.4 | 3900 |
| 3.6 | 4300 |
| 3.2 | 3800 |
| 3.5 | 4200 |
| 2.9 | 3900 |
The estimated regression equation for these data is ŷ = 2090.5 + 581.1x and MSE = 21,284.
- a. Develop a point estimate of the starting salary for a student with a GPA of 3.0.
- b. Develop a 95% confidence interval for the
mean starting salary for all students with a 3.0 GPA. - c. Develop a 95% prediction interval for Ryan Dailey, a student with a GPA of 3.0.
- d. Discuss the differences in your answers to parts (b) and (c).
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a.develop the multiple regression equation for these data.
b. What is the coefficient of determination for this regression equation?
c. Determine the forecast for freshman applicants for a tuition rate of $1700 per semester, with a pool of applicants of 63000.
CAN YOU SHOW ME ALL THE ANSWER STEP STEP WİTH EXCELL
What is the code in Stata for this question?
Run the linear regression given by wages = β0 +β1education+β2workexp+β3unionmember +β4south+ β5−9occupation + β10female + u
where wages=hourly wage in US dollars; education=years of schooling; workexp=years of work experience; unionmember=a dummy variable equal to ”1” if a person is a union member, and ”0” otherwise; south=a dummy variable equal to ”1” if a person lives in the south, and ”0” otherwise;
occupation=a categorical variable equal to ”1” if a person’s occupation is ”management”; ”2” if it is ”sales”; ”3” if it is ”clerical”, ”4” if it is ”service”, ”5” if it is ”professional” and ”6” if it is ”other”.
Please make sure to use ”other” as the base category; female =a dummy variable equal to ”1” if a person is female, and ”0” if a person is male.
Corvette, Ferrari, and Jaguar produced a variety of classic cars that continue to increase in value. The data ClassicCars, based upon the Martin Rating System for Collectible Cars, show the rarity rating (1-20) and the high price ($1000) for 15 classic cars.
Develop an estimated multiple regression equation with x=rarity rating and x2 as the two independent variables.
Consider a nonlinear relationship E(Y) =BoB1^x. Use logarithms to develop an estimated regression equation for this model.
Do you prefer the estimated regression equation developed in part (b) or part (c)? Explain.
Year
Make
Model
Rating
Price ($1000)
1984
Chevrolet
Corvette
18
1600
1956
Chevrolet
Corvette 265/225-hp
19
4000
1963
Chevrolet
Corvette coupe (340-bhp 4-speed)
18
1000
1978
Chevrolet
Corvette coupe Silver Anniversary
19
1300
1960-1963
Ferrari
250 GTE 2+2
16
350
1962-1964
Ferrari
250 GTL Lusso
19
2650
1962
Ferrari
250 GTO
18
375
1967-1968
Ferrari
275 GTB/4 NART Spyder
17
450
1968-1973…
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
Ch. 14.2 - Laptop Ratings. To help consumers in purchasing a...Ch. 14.2 - Prob. 12ECh. 14.2 - Distance and Absenteeism. A large city hospital...Ch. 14.2 - Using a global-positioning-system (GPS)-based...Ch. 14.3 - 15. The data from exercise 1...Ch. 14.3 - The data from exercise 2 follow.
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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