A linear regression model is designed to predict service charges by a bank (indollars per month) based on sales revenues of 26 companies who use theservices (in millions of dollars). Partial output from Excel givesŷ = -5428 + 32.756x,, with SSE = 117600, and the p-value = 0.04022 forthe estimated slope. Interpret the standard error of the estimate.ABEApproximately 95% of the observed service charges fall within $117600 of theleast squares lineNone of the suggested answers are correctFor every $1 million increase in sales revenue, we expect a service charge toincrease by $117600Approximately 96% of the observed service charges fall within $140 of the leastsquares line.Approximately 95% of the observed service charges equal their correspondingpredicted values

Solution: Given information: n= 26 Observation The estimated regression equation is…

Answered: A linear regression model is designed…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Chris collects personal data on coffee consumption x (in cups) and the following night's sleep y (in hours). Fitting a linear regression to the data, Chris learns that the slope is -0.43. One evening Chris uses his regression and predicts 6.47 hours of sleep. Then Chris remembers that his "coffee count" was off in making this estimate; Chris drank in an atypical additional 2 cups of coffee over lunch break. What should Chris' predicted sleep be (in hours)? Answer to the nearest 0.01 hours. (There is insufficient information here to produce the equation of the least squares line. You may need to look back in the course notes to find out how the slope is interpreted, and how that can be used to solve this problem.)
The table below shows the amounts of crude oil (in thousands of barrels per day) produced by a country and the amounts of crude oil (in thousands of barrels per day) mported by a country, for the last seven years. Construct and interpret a 95% prediction interval for the amount of crude oil imported by the this country when the amount of crude oil produced by the country is 5,508 thousand barrels per day. The equation of the regression line is y = - 1.120x + 15,839.271. Oil produced, x 5,684 5,654 5,452 5,157 5,061 5,030 5,826 9,680 10,041 10,154 10,121 10,060 Oil imported, y 9,304 9,105 Construct and interpret a 95% prediction interval for the amount of crude oil imported when the amount of crude oil produced by the country is 5,508 thousand barrels per day. Select the correct choice below and fill in the answer boxes to complete your choice. (Round to the nearest cent as needed.) and O A. We can be 95% confident that when the amount of oil produced is 5,508 thousand barrels, the…
Using the regression formula with a slope = .704 and an intercept = .719, what would the predicted college GPA be for a student whose current high school GPA = 3.2?
The table below shows the amounts of crude oil (in thousands of barrels per day) produced by a country and the amounts of crude oil (in thousands of barrels per day) imported by a country, for the last 7 years. Construct and interpret a 98% prediction interval for the amount of oil imported by the country and the amount of oil produced by the country is 5,483 thousand barrels per day. The equation of the regression line is y = -1.194x + 16,234.906
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A set of X and Y scores has SSX = 10, SSY = 36, and SP = 20. The regression equation for these scores will have a slope constant of 2. True or False
Using a sample of recent university graduates, you estimate a simple linear regression using initial annual salary as the dependent variable and the graduate's weighted average mark (WAM) as the explanatory variable. If the regression model has an estimated intercept of 3200 and an estimated slope coefficient of 550, what is the predicted starting salary of a student with a WAM of 64?
A researcher knows that people with higher annual salaries commit fewer crimes. He is creating a regression model to predict the number of crimes a person will commit based on their salary Based on this information alone which of the following MUST be the slope of the regression line choose one 1.00 or 0.50 or -0.50
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Using the regression to model annual income, a variable for years of education has a slope = 2000. This means that the model predicts each additional year of education will yield an extra 2,000 for the average person's salary, regardless of how many total years of education a person has. A. True B. False

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