An accountant wishes to predict direct labor cost (v) on the basis of the batch size (x) of a product produced in a job shop.Data for 12 production runs are given in Table 14.5, along with the Excel output from fitting a least squaresPage 592regression line to the data.a By using the formulas illustrated in O Example 14.2 and the data provided, verify that (within rounding)bọ = 18.488 and bị = 10.146, as shown on the Excel output.b Interpret the meanings of bo and b1 . Does the interpretation of bọ make practical sense?c Write the least squares prediction equation.d Use the least squares line to obtain (1) a point estimate of the mean direct labor cost for all batches of size 60 and(2) a point prediction of the direct labor cost for an individual batch of size 60. Direct Labor Cost, y($100s)Batch Size, x71566362381351381286183145144934654852251231024100

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Answered: An accountant wishes to predict direct…

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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The following data represent the commute time (in minutes) x and a score on a well-being survey y. The equation of the least-squares regression line is y=-0.0468x + 68.9967 and the standard error of the estimate is 0.5157. Complete parts (a) through (e) below. X 5 T y 69.0 Lower Bound Upper Bound 15 25 35 50 72 105 68.2 67.4 67.1 66.8 66.5 63.6 (a) Predict the mean well-being index composite score of all individuals whose commute time is 20 minutes. y= (Round to two decimal places as needed.) (b) Construct a 90% confidence interval for the mean well-being index composite score of all individuals whose commute time is 20 minutes. = (Round to two decimal places as needed.) = (Round to two decimal places as needed.) G (c) Predict the well-being index composite score of Jane, whose commute time is 20 minutes. y= (Round to two decimal places as needed.) (d) Construct a 90% prediction interval for the well-being index composite score of Jane, whose commute time is 20 minutes. Lower Bound…
You are given the following information about x and y. Input this into Excel and complete the following question: y Independent Dependent Variable Variable 15 5 12 10 9. 7 11 What is he least squares regression estimate of the intercept? a) -1.3 b) 16.41176 c) 21.4
The following table number of absences (x) and the grade earned on the first exam (y) for a Statistics class. 3. 9. 5 8. y 86 76 91 54 84 54 The least-squares regression line is in the form y= bo + b,x. Compute the value of bo. That is, compute the intercept. Round your answer to two decimal places. Write only a number as your answer. Your Answer: Answer
This dataset continues our saga of modeling the price of this popular Honda automobile. The dataset has now been cleaned to remove the columns with the dealership where the car was offered for sale and specific trim. (a) write out your model in econometric notation. Be very precise! (b) using the 93 observations in the dataset, estimate a model where price is a function of age, mileage and trim of the car. Be sure to avoid the dummy variable trap!! Fully report the results of your model. In this case, interpretation of the coefficients on the dummy variables is particularly important. (c) test the hypothesis that the specific trim does not affect the price of a Civic. Be sure to do all parts of the hypothesis test. (please fully describe steps if you are using Excel) Price Years Old KM EX EXT SE Sport Touring 6555 9 290363 0 0 0 0 0 9999 9 142258 0 0 0 0 0 10281 6 132644 0 0 0 0 0 12480 5 167125 0 0 0 0 0 12991 7 57398 0 0 0 0 0 12991 6 93046 0 0 0 0 0 12991…
A movie studio wishes to determine the relationship between the revenue generated from the streaming of comedies and the revenue generated from the theatrical release of such movies. The studio has the following bivariate data from a sample of fifteen comedies released over the past five years. These data give the revenue x from theatrical release (in millions of dollars) and the revenue y from streaming (in millions of dollars) for each of the fifteen movies. The data are displayed in the Figure 1 scatter plot. (The 2nd picture contains the rest of the data as it would not fit in the first pic and it includes the question as well.)
The following data represent the speed at which a ball was hit (in miles per hour) and the distance it traveled (in feet) for a random sample of home runs in a Major League baseball game in 2018. Complete parts (a) through (f). Click here to view the data. Click here to view the critical values of the corelation coefficient (a) Find the least-squares regression line treating speed at which the ball was hit as the explanatory variable and distance the ball traveled as the response variable. y (Round to three decimal places as needed.) (b) Interpret the slope and y-intercept, if appropriate. Begin by interpreting the slope. Data table O A. The slope of this least-squares regression line says that the distance the ball travels increases by the slope with every 1 mile per hour increase in the speed that the ball was hit. O B. The slope of this least-squares regression line shows the increase in the speed that the ball was hit with every 1 foot increase in the distance that the ball was…
Suppose Wesley is a marine biologist who is interested in the relationship between the age and the size of male Dungeness crabs. Wesley collects data on 1,000 crabs and uses the data to develop the following least-squares regression line where X is the age of the crab in months and Y is the predicted value of Y, the size of the male crab in cm. Y = 8.2052 + 0.5693X What is the value of Ý when a male crab is 21.7865 months old? Provide your answer with precision to two decimal places. Interpret the value of Ý. The value of Ý is the probability that a crab will be 21.7865 months old. the predicted number of crabs out of the 1,000 crabs collected that will be 21.7865 months old. the predicted incremental increase in size for every increase in age by 21.7865 months. the predicted size of a crab when it is 21.7865 months old.
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Biologist Theodore Garland, Jr. studied the relationship between running speeds and morphology of 49 species of cursorial mammals (mammals adapted to or specialized for running). One of the relationships he investigated was maximal sprint speed in kilometers per hour and the ratio of metatarsal-to-femur length. A least-squares regression on the data he collected produces the equation ŷ = 37.67 + 33.18x %3D where x is metatarsal-to-femur ratio and ŷ is predicted maximal sprint speed in kilometers per hour. The standard error of the intercept is 5.69 and the standard error of the slope is 7.94. Construct an 80% confidence interval for the slope of the population regression line. Give your answers precise to at least two decimal places. Lower limit: Upper limit:
A prospective MBA student would like to examine the factors that impact starting salary upon graduation and decides to develop a model that uses program per-year tuition as a predictor of starting salary. Data were collected for 37 full-time MBA programs offered at private universities. The least squares equation was found Y; = -13258.594 + 2.422X;, where X; is the program per-year tuition and Y; is the predicted mean starting salary. To perform a residual analysis for these data, the following results are obtained. of regression have been seriously violated. Residual index plot QQ Plot of Residuals Residuals Residuals 20000- 20000 0. -20000 -20000 a) To evaluate whether the assumption of linearity has been violated, which of the following graph shou be examined? A. Predicted Values vs. Residuals B. Residual index plot C. QQ plot of residuals D. Residuals vs. Progrm Per-Year Tuition ($) b) To evaluate whether the assumption of normality has been violated, which of the following graph…
Below are bivariate data O each of twelve countries. For each of the countries, both x, the number of births per one thousand people in the population, and y, the female life expectancy (in years), are given. Also shown are the scatter plot for the data and the least-squares regression line. The equation for this line is ing birthrate and life expectancy information for y = 81.87 – 0.46x. Birthrate, x (number of births per 1000 pop.) Female life expectancy, y (in years) 85- 35.7 67.7 80- 41.5 63.9 75 31.9 63.3 19.9 73.0 70 50.5 60.4 65. 24.4 72.7 60- 50.1 63.2 55 13.8 72.5 50 50.3 54.6 45.6 57.9 15.9 76.2 Figure 1 26.6 71.9 Send data to Excel
This data table contians the listed prices and weights of the diamonds in 48 rings offered for sale in The Singapore Times. The prices are in Singapore dollars, with the weights in crats. Estimate the linear regression using weight as the explanatory variable and price as the response variable using the following two methods: a) Create a scatterplot with trendline (be sure to show the equation and R-square on the chart.) b) Use the Data Analysis Toolpak to do the work for you.

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