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 14.8, Problem 45E
Given are data for two variables, x and y.
- a. Develop an estimated regression equation for these data.
- b. Compute the residuals.
- c. Develop a plot of the residuals against the independent variable x. Do the assumptions about the error terms seem to be satisfied?
- d. Compute the standardized residuals.
- e. Develop a plot of the standardized residuals against ŷ. What conclusions can you draw from this plot?
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Given are five observations for two variables, x and y.
xi
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2
3
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yi
4
6
6
11
13
Develop the estimated regression equation by computing the values of
b0
and
b1
using
b1 =
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and
b0 = y − b1x.
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Use the estimated regression equation to predict the value of y when
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xi
3
12
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14
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55
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50
15
20
#1) Develop the estimated regression equation by computing the values of b0 and b1 using
b1 =
Σ(xi − x)(yi − y)
Σ(xi − x)2
and
b0 = y − b1x.
y=
#2) Use the estimated regression equation to predict the value of y when x = 13.
Given are five observations for two variables, x and y.xi -3 12 6 20 14yi -55 40 55 10 15 Develop the estimated regression equation by computing the values of
b0 and b1 using b1 =
Σ(xi − x)(yi − y)
Σ(xi − x)2
and
b0 = y − b1x.
y= ____________________
Use the estimated regression equation to predict the value of y when x = 7.
_____________________________
Chapter 14 Solutions
Essentials Of Statistics For Business & Economics
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Compute the mean...Ch. 14.5 - The data from exercise 2 follow.
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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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- Olympic Pole Vault The graph in Figure 7 indicates that in recent years the winning Olympic men’s pole vault height has fallen below the value predicted by the regression line in Example 2. This might have occurred because when the pole vault was a new event there was much room for improvement in vaulters’ performances, whereas now even the best training can produce only incremental advances. Let’s see whether concentrating on more recent results gives a better predictor of future records. (a) Use the data in Table 2 (page 176) to complete the table of winning pole vault heights shown in the margin. (Note that we are using x=0 to correspond to the year 1972, where this restricted data set begins.) (b) Find the regression line for the data in part ‚(a). (c) Plot the data and the regression line on the same axes. Does the regression line seem to provide a good model for the data? (d) What does the regression line predict as the winning pole vault height for the 2012 Olympics? Compare this predicted value to the actual 2012 winning height of 5.97 m, as described on page 177. Has this new regression line provided a better prediction than the line in Example 2?arrow_forwardGiven are data for two variables, x and y. xi 6 11 15 18 20 yi 5 9 13 19 30 An estimated regression equation for these data is yhat=-7.24+1.6x a) Compute the residuals. (Round your answers to two decimal places.) b) Compute the standardized residuals. (Round your answers to two decimal places.) Ans both..otherwise don't answerarrow_forwardGiven are five observations for two variables, x and y. xi 1 2 3 4 5 yi 4 6 5 9 14 Develop the estimated regression equation by computing the the slope and the y intercept of the estimated regression line (to 1 decimal). y^= + x Use the estimated regression equation to predict the value of y when x = 5 (to 1 decimal).y^ =arrow_forward
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