Consider the following data regarding students' college GPAs and high school GPAs. The estimated regression equation is Estimated College GPA = 2.74 + 0.1655 (High School GPA) Compute the sum of squared errors (SSE) for the model. Round your answer to four decimal places. PA). GPAs College GPA High School GPA 3.22 2.29 3.62 3.96 2.69 3.38 3.71 3.36 3.06 3.74 3.56 3.96 Copy Data
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- Consider the following data regarding students' college GPAs and high school GPAs. The estimated regression equation is Estimated College GPA = 3.38 + ( − 0.0272) (High School GPA). GPAs College GPA High School GPA 2.09 3.60 3.73 3.99 3.56 3.88 2.83 4.90 3.51 4.15 3.87 3.83 Copy Data Step 2 of 3: Compute the mean square error (s2) for the model. Round your answer to four decimal places.Consider the following data regarding students' college GPAs and high school GPAs. The estimated regression equation is Estimated College GPA = 4.59 + (-0.4391) (High School GPA PA). GPAs College GPA High School GPA 2.18 3.25 3.27 4.02 3.20 3.98 3.96 2.26 2.50 3.98 3.32 3.30 Copy Data Step 2 of 3: Compute the mean square error (s) for the model. Round your answer to four decimal places.Consider the following estimated regression model relating annual salary to years of education and work experience. Estimated Salary=11,681.31+3418.97(Education)+1194.78(Experience) Suppose two employees at the company have been working there for five years. One has a bachelor's degree (8 years of education) and one has a master's degree (10 years of education). How much more money would we expect the employee with a master's degree to make?
- Consider the following data regarding students' college GPAs and high school GPAs. The estimated regression equation is Estimated College GPA=1.85+0.4743(High School GPA).Estimated College GPA=1.85+0.4743(High School GPA). GPAs College GPA High School GPA 3.843.84 2.562.56 3.573.57 3.903.90 2.072.07 3.143.14 4.004.00 3.223.22 3.873.87 2.882.88 2.212.21 2.082.08 Copy Data Step 1 of 3 : Compute the sum of squared errors (SSE) for the model. Round your answer to four decimal places.3. To explain what determine the price of air conditioners, B.T. Ratchford, obtained the following regression results based on a sample of 19 air conditioners: R²=0.84 y=-68.236 +0.023x, +19.729x3, +7.653x (0.005) (8.992) (3.082) se= Where y the price, in dollars x2= the BTU rating of air conditioner x3 the energy efficiency ratio x, the number of settings se standard errors a) Interpret the regression results. b) Do the results make economic sense? c) At 5% significance level, test the hypothesis that the BTU rating has no effect on the price of an air conditioner vs. that it has a positive effect. d) Would you accept the null hypothesis that the three explanatory variables explain a substantial variation in the prices of air conditioners? Show clearly all your calculations.Suppose that you had data on the amount of pollution in London every year. Write down the regression equation that you would need to estimate to measure the effect of ULEZ on pollution. Describe carefully what the dependent variable, the independent variable, the unit of observation (time or location), and the main coefficient of interest are. What control variables do you think should be included in this regression?
- Expedia wants to use regression analysis to build a model for airfare tickets prices in the states: Ticket prices = 30 + B1*Miles + E where Miles is measured in hundreds Coefficients 169.50 5.90 Intercept Miles (in hundreds) Which of the following is true? Standard Error 1.34 0.09 4 t Stat 126.85 61.28 P-value 0.000 0.002 If Miles increases by 1, then we predict ticket price to go up by $5.9. O If ticket price goes up by $1, then we predict Miles to go up by 590 miles. O If ticket price goes up by $100, then we predict Miles to go up by 590 miles. If Miles increases by 100, then we predict ticket price to go up by $5.9.Consider the following estimated regression model relating annual salary to years of education and work experience. Estimated Salary=10,160.10+3147.75(Education)+1230.34(Experience) Suppose an employee with 8 years of education has been with the company for 20 years (note that education years are the number of years after 8th grade). According to this model, what is his estimated annual salary?Consider the following data regarding students' college GPAs and high school GPAs. The estimated regression equation is Estimated College GPA = 2.56 + 0.1582 (High School GPA). GPAs College GPA High School GPA 3.96 4.42 2.81 3.91 3.53 4.21 3.27 2.76 3.58 4.95 2.07 4.24 Copy Data Step 2 of 3: Compute the mean square error (s?) for the model. Round your answer to four decimal places.
- Suppose you run a regression with quantity as your dependent variable and advertising as one of your independent variables. The p-value on advertising is .08. The marketing team is arguing that their advertising efforts are impacting sales, but the finance/economics department is arguing that there isn't evidence that the advertising is impacting sales. What side would you take and why?QUESTION 17 I am trying to figure out how to measure an athlete's productivity. So, I have run a linear regression of a NBA player's salary (dependent variable) on a player's statistics including average points, assists, rebounds per game, and turnovers per game (the independent variables). The final model is: Salary = 1,000,000 * Points per game + 50,000 * Assists per game + 20,000 * Rebounds per game - 30,000 * Turnovers per game %3! Last year, Lebron James averaged 25 points per game, 8 assists per game, 8 rebounds per game and 4 turnovers per game. What is Lebron's predicted salary?What is a linear regression model? What is measured by the coefficients ofa linear regression model? What is the ordinary least squares estimator?