Chapter 4.2, Problem 16P

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8th Edition

Charles Henry Brase + 1 other

ISBN: 9781337558075

Textbook Problem

**Research: Patents** The following data are based on information from the *Harvard Business Review* (Vol. 72, No. 1). Let *x* be the number of different research programs, and let *y* be the mean number of patents per program. As in any business, a company can spread itself too thin. For example, too many research programs might lead to a decline in overall research productivity. The following data are for a collection of pharmaceutical companies and their research programs:

x |
10 | 12 | 14 | 16 | 18 | 20 |

y |
1.8 | 1.7 | 1.5 | 1.4 | 1.0 | 0.7 |

Complete parts (a) through (e), given

(f) Suppose a pharmaceutical company has 15 different research programs. What does the least-squares equation forecast for *y* = mean number of patents per program?

**(a)**

To determine

**To graph:** The scatter diagram.

Explanation

**Given:** The data which consists of variables, â€˜the number of different research programs and â€˜the mean number of patents per program, represented by *x* and *y*, respectively is provided.

**Graph:**

Follow the steps given below in Excel to obtain the scatter diagram of the data.

Step 1: Enter the data into Excel sheet. The screenshot is given below.

Step 2: Select the data and click on â€˜Insertâ€™. Go to charts and select the chart type â€˜Scatterâ€™...

**(b)**

To determine

**To test:** Whether the provided values of

**(c)**

To determine

**To find:** The values of *a*, *b* and the equation for the least-squares line.

**(d)**

To determine

**To graph:** The least-squares line on the scatter diagram which passes through the point

**(e)**

To determine

The value of

**(f)**

To determine

**To find:** The least square equation forecast.

Sect-4.1 P-1PSect-4.1 P-2PSect-4.1 P-3PSect-4.1 P-4PSect-4.1 P-5PSect-4.1 P-6PSect-4.1 P-7PSect-4.1 P-8PSect-4.1 P-9PSect-4.1 P-10P

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