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 15.2, Problem 9E
House Prices. Spring is a peak time for selling houses. The file SpringHouses contains the selling price, number of bathrooms, square footage, and number of bedrooms of 26 homes sold in Ft. Thomas, Kentucky, in spring 2018 (realtor.com website).
- a. Develop scatter plots of selling price versus number of bathrooms, selling price versus square footage, and selling price versus number of bedrooms. Comment on the relationship between selling price and these three variables.
- b. Develop an estimated regression equation that can be used to predict the selling price given the three independent variables (number of baths, square footage, and number of bedrooms).
- c. It is argued that we do not need both number of baths and number of bedrooms. Develop an estimated regression equation that can be used to predict selling price given square footage and the number of bedrooms.
- d. Suppose your house has four bedrooms and is 2650 square feet. What is the predicted selling price using the model developed in part c.
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Table #2.3.7: Data of House Value versus Rental
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The time that it takes for a person to complete a minor task was measured with and without a distraction (television show or movie). The difference in time, given in seconds, is shown below.
Difference in Time to Complete Task
3.4 32.8 28.1 31.8 62.0 65.8 92.4 48.3 51.4 28.9 68.2 75.1 78.0 83.1 56.0 72.6 87.0 92.1 61.1 53.0
What type of graph would be the most useful to show the spread of the data collected?
Lieutenant Dan, a personal trainer, was interested in whether or not there was a linear relationship between the number of visits his soldiers made to the gym each week and the average amount of time they exercised per visit. He took the following data.
Soldier
1
2
3
4
5
6
Number of visits per week
1
3
4
2
3
5
Average time spent exercising per visit (hours)
2
1.5
1
2
2
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Chapter 15 Solutions
Essentials Of Statistics For Business & Economics
Ch. 15.2 - The estimated regression equation for a model...Ch. 15.2 - Consider the following data for a dependent...Ch. 15.2 - 3. In a regression analysis involving 30...Ch. 15.2 - A shoe store developed the following estimated...Ch. 15.2 - Theater Revenue. The owner of Showtime Movie...Ch. 15.2 - NFL Winning Percentage. The National Football...Ch. 15.2 - Rating Computer Monitors. PC Magazine provided...Ch. 15.2 - Scoring Cruise Ships. The Condé Nast Traveler Gold...Ch. 15.2 - House Prices. Spring is a peak time for selling...Ch. 15.2 - Baseball Pitcher Performance. Major League...
Ch. 15.3 - In exercise 1, the following estimated regression...Ch. 15.3 - In exercise 2, 10 observations were provided for a...Ch. 15.3 - 13. In exercise 3, the following estimated...Ch. 15.3 - In exercise 4, the following estimated regression...Ch. 15.3 - Prob. 15ECh. 15.3 - 16. In exercise 6, data were given on the average...Ch. 15.3 - Quality of Fit in Predicting House Prices. Revisit...Ch. 15.3 - R2 in Predicting Baseball Pitcher Performance....Ch. 15.5 - In exercise 1, the following estimated regression...Ch. 15.5 - Refer to the data presented in exercise 2. The...Ch. 15.5 - The following estimated regression equation was...Ch. 15.5 - Testing Significance in Shoe Sales Prediction. In...Ch. 15.5 - Testing Significance in Theater Revenue. Refer to...Ch. 15.5 - Testing Significance in Predicting NFL Wins. The...Ch. 15.5 - Auto Resale Value. The Honda Accord was named the...Ch. 15.5 - Testing Significance in Baseball Pitcher...Ch. 15.6 - In exercise 1, the following estimated regression...Ch. 15.7 - Consider a regression study involving a dependent...Ch. 15.7 - Consider a regression study involving a dependent...Ch. 15.7 - 34. Management proposed the following regression...Ch. 15.7 - Repair Time. Refer to the Johnson Filtration...Ch. 15.7 - Extending Model for Repair Time. This problem is...Ch. 15.7 - Pricing Refrigerators. Best Buy, a nationwide...Ch. 15.9 - In Table 15.12 we provided estimates of the...Ch. 15 - 49. The admissions officer for Clearwater College...Ch. 15 - 50. The personnel director for Electronics...Ch. 15 - A partial computer output from a regression...Ch. 15 - Analyzing College Grade Point Average. Recall that...Ch. 15 - Analyzing Job Satisfaction. Recall that in...Ch. 15 - Analyzing Repeat Purchases. The Tire Rack,...Ch. 15 - Zoo Attendance. The Cincinnati Zoo and Botanical...Ch. 15 - Mutual Fund Returns. A portion of a data set...Ch. 15 - Gift Card Sales. For the holiday season of 2017,...Ch. 15 - Consumer Research, Inc., is an independent agency...Ch. 15 - Matt Kenseth won the 2012 Daytona 500, the most...Ch. 15 - When trying to decide what car to buy, real value...
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