Basic Business Statistics, Student Value Edition
14th Edition
ISBN: 9780134685113
Author: Mark L. Berenson, David M. Levine, David F. Stephan, Kathryn Szabat
Publisher: PEARSON
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Question
Chapter 15, Problem 32PS
a.
To determine
Develop the most appropriate multiple regression model to predict the fair market value.
b.
To determine
Compare the results in (a) with problems 33 and 34 of part (a).
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A mail-order business selling personal computer supplies, software and hardware maintains a centralized warehouse. Management is currently examining the process of distribution from the warehouse and wants to study the factors that affect the warehouse distribution costs.
Data collected over 24 random months contain the warehouse’s distribution cost (in thousands of Rands), the sales (in thousands of Rands) and the number of orders received. A multiple linear regression model was fitted to the data by using Stat1.2. Use the output to answer the questions that follow by typing only the letter of the correct option in the answer boxes.
Variablesy: Warehouse Distribution Costx1: Salesx2: Number of Orders
Model Fitting StatisticsR2 = 0.8504Adj R2: ?
Regression Coefficients Beta Parameter Standard b Parameter Standard Estimates…
Suppose that a kitchen cabinet warehouse company would like to be able to predict the area of a customer’s kitchen using the number of cabinets and the kitchen ceiling height. To do so data is collected on the following variables from a random sample of customers:
Area – area of the kitchen in square feet
Height – ceiling height in the kitchen (from floor to ceiling) in inches
Cabinets – number of cabinets in the kitchen
Suppose that a multiple linear regression model was fit to the data and that the following output resulted:
Coefficients:
(Intercept)HeightCabinets
Estimate-57.98771.2760.3393
Std. Error8.63820.26430.1302
t value -6.7134.8282.607
Pr(>|t|)2.75e-074.44e-050.0145
What is the predicted area of a kitchen with a height of 96 inches and 10 cabinets? Report your answer to 1 decimal place.
square feet
Suppose that a kitchen cabinet warehouse company would like to be able to predict the area of a customer’s kitchen using the number of cabinets and the kitchen ceiling height. To do so data is collected on the following variables from a random sample of customers:
Area – area of the kitchen in square feet
Height – ceiling height in the kitchen (from floor to ceiling) in inches
Cabinets – number of cabinets in the kitchen
Suppose that a multiple linear regression model was fit to the data and that the following output resulted:
Coefficients:
(Intercept)HeightCabinets
Estimate-57.98771.2760.3393
Std. Error8.63820.26430.1302
t value -6.7134.8282.607
Pr(>|t|)2.75e-074.44e-050.0145
10
Question 10
This is not a form; we suggest that you use the browse mode and read all parts of the question carefully.
Which of the following is the correct interpretation of the coefficient for Cabinets?
For a kitchen with a given ceiling height, the average number of cabinets…
Chapter 15 Solutions
Basic Business Statistics, Student Value Edition
Ch. 15 - The following is the quadratic regression equation...Ch. 15 - Business actively recruit business student with...Ch. 15 - A study was conducted on automobile engines to...Ch. 15 - Prob. 4PSCh. 15 - In the production of printed circuit boards,...Ch. 15 - An automotive sales manager wishes to examine the...Ch. 15 - Researchers wanted to investigate the relationship...Ch. 15 - Prob. 8PSCh. 15 - Prob. 9PSCh. 15 - Prob. 10PS
Ch. 15 - Using the data of Problem 15.4 on page 600, stored...Ch. 15 - Using the data of Problem 15.6 on page 601, stored...Ch. 15 - Using the data of Problem 15.6 on page 601 stored...Ch. 15 - If the coefficient of determination between two...Ch. 15 - If the coefficient of determination between two...Ch. 15 - Prob. 16PSCh. 15 - Refer to Problem 14.5 on page 542. Perform a...Ch. 15 - Refer to Problem 14.6 on page 542. Perform a...Ch. 15 - Refer to Problem 14.7 on page 542. Perform a...Ch. 15 - Refer to Problem 14.8 on page 542. Perform a...Ch. 15 - Prob. 21PSCh. 15 - Prob. 22PSCh. 15 - Prob. 23PSCh. 15 - You need to develop a model to predict the asking...Ch. 15 - Accounting Today identified top public accounting...Ch. 15 - How can you evaluate whether collinearity exists...Ch. 15 - Prob. 27PSCh. 15 - Prob. 28PSCh. 15 - A Specialist in baseball analytics has expanded...Ch. 15 - In the production of printed circuit boards,...Ch. 15 - Hemlock Farms is a community located in the Pocono...Ch. 15 - Prob. 32PSCh. 15 - Prob. 33PSCh. 15 - Prob. 34PSCh. 15 - You are a real estate broker who wants to compare...Ch. 15 - You are a real estate broker who wants to compare...Ch. 15 - Financial analysts engage in business valuation to...Ch. 15 - Prob. 38PSCh. 15 - A molding machine that contains different cavities...Ch. 15 - The file Cites contains a sample of 25 cities in...Ch. 15 - In problem 15.32-15.36 you developed multiple...
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