Introduction to Business Statistics
7th Edition
ISBN: 9781111792374
Author: WEIERS
Publisher: Cengage Learning
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Chapter 2, Problem 2.68CE
To determine
(a)
To construct a
To determine
(b)
To fit: A linear equation to the scatter diagram and to determine if the slope is positive or negative. Also, if the sign of the slope consistent with the intuitive observation in part (a).
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The following table shows the mileage and selling prices of eight used cars of the samemodel.Mileage Price21,000 $16,00034,000 $11,00041,000 $13,00043,000 $14,00065,000 $10,00072,000 $12,00076,000 $7,00084,000 $7,000(i) Construct the linear equation of best t and interpret the results.(ii) Predict the selling price for a used car of this model with an odometer that reads50,000 miles.(iii) Calculate the total sum of squares for the model.(iv) Partition the total sum of squares calculated in part (iii) into the sum of squaresregression and the sum of squares error.(v) Calculate the coecient of determination for the car pricing model.
A study was conducted to detemine whether a the final grade of a student in an introductory psychology course is linearly related to his or her performance on the verbal ability test administered before college entrance. The verbal scores and final grades for 10 students are shown in the table below.
Student
Verbal Score x
Final Grade y
1
37
43
2
38
46
3
33
39
4
57
67
5
60
74
6
64
80
7
47
59
8
66
76
9
28
30
10
53
62
Should the regression be used to predict the final grade of a student with a verbal score of 100?
answer: ?
The line of best fit through a set of data isy=46.539+4.023xy=46.539+4.023xAccording to this equation, what is the predicted value of the dependent variable when the independent variable has value 40?y = Round to 1 decimal place.
Chapter 2 Solutions
Introduction to Business Statistics
Ch. 2.2 - What is a frequency distribution? What benefits...Ch. 2.2 - Prob. 2.2ECh. 2.2 - The National Safety Council reports the following...Ch. 2.2 - Prob. 2.4ECh. 2.2 - Prob. 2.5ECh. 2.2 - Using the frequency distribution in Exercisc 2.5,...Ch. 2.2 - What is meant by the statement that the set of...Ch. 2.2 - For commercial banks in each state, the U.S....Ch. 2.2 - The accompanying data describe the hourly wage...Ch. 2.2 - The following performance scores have been...
Ch. 2.2 - During his career in the NHL, hockey great Wayne...Ch. 2.2 - According to the U.S. Department of Agriculture,...Ch. 2.2 - Convert the distribution in Exercise 2.3 to a...Ch. 2.2 - Prob. 2.14ECh. 2.2 - Using the frequency distribution obtained in...Ch. 2.2 - For the frequency distribution constructed in...Ch. 2.2 - Prob. 2.17ECh. 2.2 - Prob. 2.18ECh. 2.2 - Prob. 2.19ECh. 2.3 - Construct a stem-and-leaf display for the...Ch. 2.3 - Prob. 2.21ECh. 2.3 - In the following stem-and-leaf display for a set...Ch. 2.3 - Prob. 2.23ECh. 2.3 - Prob. 2.24ECh. 2.3 - Prob. 2.25ECh. 2.3 - Prob. 2.26ECh. 2.3 - Prob. 2.28ECh. 2.4 - What is the difference between a histogram and a...Ch. 2.4 - Prob. 2.30ECh. 2.4 - Prob. 2.31ECh. 2.4 - Prob. 2.32ECh. 2.4 - Prob. 2.33ECh. 2.4 - Prob. 2.34ECh. 2.4 - It has been estimated that 92.9% of U.S....Ch. 2.4 - Prob. 2.37ECh. 2.5 - What is a scatterplot, and for what kind of data...Ch. 2.5 - Prob. 2.39ECh. 2.5 - Prob. 2.40ECh. 2.5 - Prob. 2.41ECh. 2.5 - For six local offices of a large tax prepartion...Ch. 2.5 - In the 2009 stress tests applied to the nation’s...Ch. 2.5 - Prob. 2.44ECh. 2.5 - Prob. 2.45ECh. 2.6 - Prob. 2.46ECh. 2.6 - Difference between simple tabulation and...Ch. 2.6 - Prob. 2.48ECh. 2.6 - For the fleet described in Exercise 2.48, a....Ch. 2.6 - Prob. 2.50ECh. 2.6 - Prob. 2.51ECh. 2.6 - Prob. 2.52ECh. 2.6 - Prob. 2.53ECh. 2.6 - Prob. 2.54ECh. 2 - The breakdown of U.S. cities having a population...Ch. 2 - The National Oceanic and Atmospheric...Ch. 2 - Prob. 2.57CECh. 2 - Prob. 2.58CECh. 2 - Prob. 2.59CECh. 2 - Prob. 2.60CECh. 2 - The following stem-and-leaf output has been...Ch. 2 - For the period 2001—2008, the lristol-Myers Squibb...Ch. 2 - Prob. 2.63CECh. 2 - Prob. 2.64CECh. 2 - Prob. 2.65CECh. 2 - Prob. 2.66CECh. 2 - Prob. 2.67CECh. 2 - Prob. 2.68CECh. 2 - Prob. 2.69CECh. 2 - Prob. 2.70CECh. 2 - Using 10-yard intervals beginning with 200.0—under...Ch. 2 - Using the same intervals as in part 1, construct a...Ch. 2 - Prob. 1.3IC
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- A study was conducted to detemine whether a the final grade of a student in an introductory psychology course is linearly related to his or her performance on the verbal ability test administered before college entrance. The verbal scores and final grades for 1010 students are shown in the table below. Student Verbal Score x Final Grade y 1 56 64 2 45 51 3 49 58 4 38 43 5 53 60 6 48 58 7 55 67 8 52 60 9 26 35 10 65 80 Find the least squares line. y^= Should the regression be used to predict the final grade of a student with a verbal score of 100?arrow_forwardA study was conducted to determine whether the final grade of a student in an introductory psychology course is linearly related to his or her performance on the verbal ability test administered before college entrance. The verbal scores and final grades for all 1010 students in the class are shown in the table below. Student Verbal Score xx Final Grade yy 11 2828 8181 22 3333 9090 33 7777 6363 44 6868 7171 55 6161 7979 66 4040 9595 77 4747 8888 88 2727 6969 99 4141 9696 1010 7171 8686 Find the following: (a) The correlation coefficient: r=r= (b) The least squares line: y^=y^= (c) Calculate the residual for the fourth student: Speakarrow_forwardThe line of best fit through a set of data isy=21.974+1.021xy=21.974+1.021xAccording to this equation, what is the predicted value of the dependent variable when the independent variable has value 140? Y=arrow_forward
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