Levene's Test of Equality of Error Variances" Levene Statistic df1 df2
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- The following data represents the wait times (in minutes) experienced by customers at a bank on different days of the week: Tuesday 7 12 3 15 8 9 12 7 4 Friday 16 15 18 22 16 20 17 18 14 (a) Based on this data, if you were in planning ahead and wanted to be able to process your banking needs quickly, which day of the week would be better to visit the bank? (Choose one to Fill in the blank) (Tuesday/Friday) ____________ would be the better day to visit the bank since the (Mean/ Median/ Mode/ Range/ Standard Deviation) ______________ is (Lower/Higher) ____________. (b) Based on this data, which day of the week has a more consistent (less variation) wait times for customers to expect? (Choose one to Fill in the blank) (Tuesday/Friday) _____________ is more consistent in wait times since the (Mean/ Median/ Mode/ Range/ Standard Deviation) ______________ is (Lower/Higher) ____________.13) Identify the terms in the master equation that we used, which is given beiow, in our linear least-squares fitting procedureWe are interested in studying cigarette demand by young adults. Lets consider thefollowing model:ncaj = β0 + β1price + β2age + β3income + uwhere ncaj is monthly cigarette consumption in packs, price is the price of a pack ofcigarettes in dollars, age is age in years, and income is annual income in thousandsof dollars. Consider now an extension of the model that allow the effect of theprice to differ by age. Holding all other factors fixed, is the effect of price onncaj constant? (This part is theoretical and you do not have to estimate themodel.)
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