Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card) (MindTap Course List)
6th Edition
ISBN: 9781337115186
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: Cengage Learning
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Textbook Question
Chapter 14.7, Problem 41E
Following is a portion of the regression output for an application relating maintenance expense (dollars per month) to usage (hours per week) for a particular brand of computer terminal.
- a. Write the estimated regression equation.
- b. Use a t test to determine whether monthly maintenance expense is related to usage at the .05 level of significance.
- c. Did the estimated regression equation provide a good fit? Explain.
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Use the following data to perform a regression analysis.
What is the regression equation?
Is it significant? How can you tell?
What is the forecast for month 13?
Month
Sales
1
132
2
131
3
134
4
140
5
141
6
142
7
144
8
143
9
146
10
145
11
148
12
148
The regional transit authority for a major metropolitan area wants to determine whetherthere is a relationship between the age of a bus and the annual maintenance cost. A sampleof ten buses resulted in the following data:
a. Develop a scatter chart for these data. What does the scatter chart indicate about therelationship between age of a bus and the annual maintenance cost?b. Use the data to develop an estimated regression equation that could be used to predictthe annual maintenance cost given the age of the bus. What is the estimated regressionmodel?c. Test whether each of the regression parameters b0 and b1 is equal to zero at a 0.05level of significance. What are the correct interpretations of the estimated regressionparameters? Are these interpretations reasonable?d. How much of the variation in the sample values of annual maintenance cost does themodel you estimated in part b explain?e. What do you predict the annual maintenance cost to be for a 3.5-year-old bus?
Given below are results from the regression analysis where the dependent variable is the number of weeks a worker is unemployed due to a layoff (Unemploy) and the independent variables are the age of the worker (Age), the number of years of education received (Edu), the number of years at the previous job (Job Yr), a dummy variable for marital status (Married:
1=married,
0=otherwise),
a dummy variable for head of household (Head:
1=yes,
0=no)
and a dummy variable for management position (Manager:
1=yes,
0=no).
We shall call this Model 1. The coefficient of partial determination
(R2Yj.(All variables except j))
of each of the six predictors are, respectively, 0.2807, 0.0386, 0.0317, 0.0141, 0.0958, and 0.1201. Model 2 is the regression analysis where the dependent variable is Unemploy and the independent variables are Age and Manager. The results of the regression analysis are given. Refer to model 1. Which of the following is the correct null hypothesis to test…
Chapter 14 Solutions
Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card) (MindTap Course List)
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 - 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 - 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 - To identify high-paying jobs for people who do not...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 - 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 - Prob. 43ECh. 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 - Valuation of a Major League Baseball Team. The...Ch. 14 - The Dow Jones Industrial Average (DJIA) and the...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 - Bus Maintenance. The regional transit authority...Ch. 14 - Studying and Grades. A marketing professor at...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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- For the following exercises, use Table 4 which shows the percent of unemployed persons 25 years or older who are college graduates in a particular city, by year. Based on the set of data given in Table 5, calculate the regression line using a calculator or other technology tool, and determine the correlation coefficient. Round to three decimal places of accuracyarrow_forwardFor the following exercises, consider the data in Table 5, which shows the percent of unemployed in a city ofpeople25 years or older who are college graduates is given below, by year. 41. Based on the set of data given in Table 7, calculatethe regression line using a calculator or othertechnology tool, and determine the correlationcoefficient to three decimal places.arrow_forwardFor the following exercises, consider the data in Table 5, which shows the percent of unemployed ina city of people 25 years or older who are college graduates is given below, by year. 40. Based on the set of data given in Table 6, calculate the regression line using a calculator or other technology tool, and determine the correlation coefficient to three decimal places.arrow_forward
- The admissions officer fro Clearwater college developed the following estimated regression equation relating the final college GPA to the students SAT mathematics score and high school GPA. Y = -1.4053 + 0.235x1 + .0049x2 X1 = high score grade point average X2 = SAT mathematics score Y= final college grade point average A. completethe missing entries in this excel regression tool output. Enter negative values as a negative numbers. Regression Missing Significance F ? And Intercept P value ? Thank youarrow_forwardFor the simple regression equation (a), conduct an individual significance tests at the 5% significance level to determine if SQFT is a significant predictor of Price. (Check photo for data)arrow_forwardA sociologist is interested in the relation between ?,the number of job changes and ?, the annual salary(in thousands of dollars) for people living in theNashville area. A random sample of 10 peopleemployed in Nashville provided the followinginformation:? 4 7 5 6 1 5 9 10 10 3? 33 37 34 32 32 38 43 37 40 33 What does the slope of the regression equationrepresent in terms of the annual salary? Identify any outliers or potential influentialobservations. Explain your reasoning. Identify the predictor and response variables. r2 = r= Interpret the meaning of r2 and how useful theregression equation is for making predictions. Please explain what kind of problem this is and how to solve it using a Ti83 calculator. Thank youarrow_forward
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