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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Chapter 16.1, Problem 7E
Home Depot, a nationwide home improvement retailer, sells several brands of washing machines. A sample of 24 models of full-size washing machines sold by Home Depot and the corresponding capacity (Cu Ft) and list price follow (Home Depot website, September 5, 2016).
- a. Develop a
scatter diagram for these data, treating cubic feet as the independent variable. Does a simple linear regression model appear to be appropriate? - b. Use a simple linear regression model to develop an estimated regression equation to predict the list price given the cubic feet. Construct a standardized residual plot. Based upon the standardized residual plot, does a simple linear regression model appear to be appropriate?
- c. Using a second-order model, develop an estimated regression equation to predict the list price given the cubic feet.
- d. Do you prefer the estimated regression equation developed in part (a) or part (c)? Explain.
- e. Are there other factors that should be considered for inclusion as independent variables in this regression?
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(a) For United States, provide data for the variables below over the years 1993 – 2007:
(i) Net migration rate (per 1,000 population)
(ii) Total fertility rate (live births per woman)
(iii)Unemployment, general level (Thousands)
(iv) Wages
(v) Life expectancy at birth for both sexes combined (years)
Data can be obtained from the UN database http://data.un.org/Explorer.aspx
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Chapter 16 Solutions
Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card) (MindTap Course List)
Ch. 16.1 - Consider the following data for two variables, x...Ch. 16.1 - Consider the following data for two variables, x...Ch. 16.1 - Prob. 3ECh. 16.1 - A highway department is studying the relationship...Ch. 16.1 - In working further with the problem of exercise 4,...Ch. 16.1 - A study of emergency service facilities...Ch. 16.1 - Home Depot, a nationwide home improvement...Ch. 16.1 - Corvette, Ferrari, and Jaguar produced a variety...Ch. 16.1 - The film Suicide Squad has an average rating of...Ch. 16.2 - In a regression analysis involving 27...
Ch. 16.2 - Prob. 11ECh. 16.2 - The Professional Golfers’ Association of America...Ch. 16.2 - Refer to exercise 12.
Develop an estimated...Ch. 16.2 - A 10-year study conducted by the American Heart...Ch. 16.2 - The average monthly residential gas bill for Black...Ch. 16.5 - Prob. 16ECh. 16.5 - Prob. 17ECh. 16.5 - Prob. 18ECh. 16.5 - Prob. 19ECh. 16.5 - Prob. 20ECh. 16.5 - Prob. 21ECh. 16.5 - Prob. 22ECh. 16.5 - Prob. 23ECh. 16.6 - The following data show the daily closing prices...Ch. 16.6 - Refer to the Cravens data set in Table 16.5. In...Ch. 16 - A sample containing years to maturity and yield...Ch. 16 - Consumer Reports tested 19 different brands and...Ch. 16 - A study investigated the relationship between...Ch. 16 - Refer to the data in exercise 28. Consider a model...Ch. 16 - Refer to the data in exercise 28.
Develop an...Ch. 16 - Prob. 31SECh. 16 - The Ladies Professional Golf Association (LPGA)...Ch. 16 - Wine Spectator magazine contains articles and...
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