11.95 Predicting quit rates in manufacturing. The reasons givenby workers for quitting their jobs generally fall into oneof two categories: (1) worker quits to seek or take a dif-ferent job, or (2) worker quits to withdraw from the laborforce. Economic theory suggests that wages and quit ratesare related. The next table lists quit rates (quits per 100employees) and the average hourly wage in a sample of15 manufacturing industries. Consider the simple linearregression of quit rate y on average wage x.a. Do the data present sufficient evidence to conclude thataverage hourly wage rate contributes useful informa-tion for the prediction of quit rates? What does yourmodel suggest about the relationship between quit ratesand wages?QUIT b. Find a 95% prediction interval for the quit rate inan industry with an average hourly wage of $9.00.Interpret the result.c. Find a 95% confidence interval for the mean quit ratefor industries with an average hourly wage of $9.00.Interpret this result.IndustryQuit Rate, yAverage Wage, x$ 8.2010.3511.4.732.66.1843.45.3751.79.946.71.79.111.010.5913.297.998.592.0103.85.54112.37.506.438.8310.93121.91.413141.8152.08.80

The simple linear regression model is a statistical technique to determine and analyze the…

Answered: Predicting quit rates in manufacturing.…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

ABC Company is exploring different prediction models that can be used to forecast indirect labor costs. One independent variable under consideration is machine hours. Following are matching observations on indirect labor costs and machine hours for the past six months: Machine hours Indirect labor costs P20,000 P24,000 P17,000 P22,000 P13,000 P14,000 Month 1 300 400 240 4 370 5 200 6 225 Using linear regression analysis, the estimated variable indirect labor cost per machine hour is closest to: P35.62 P15.44 P52.71 P58.31
Infant Mortality Rate. A social scientist wants to predict the infant mortality rate in cities in the United States. a. Suggest five predictor variables (characteristics associated with a city) that might be useful in predicting infant mortality rate. b. Write the multiple linear regression model for the conditional mean of the response variable, infant mortality rate.
Exercise 2. A corporation administers an aptitude test to all new sales representatives. Management is interested in the extent to which this test is able to predict sales representatives' eventual success. The accompanying table records average weekly sales (in thousands of dollars) and aptitude test scores for a random sample of eight representatives. Test score Weekly Sales 55 60 85 75 80 85 65 60 10 12 28 24 18 16 15 12 a. Estimate the linear regression of weekly sales on aptitude test scores. b. Interpret the estimated slope of the regression line.
Grade Prediction. The Statistics Department at a large university would like to predict the final grades of students in its introductory statistics course. a. If the final grade is measured as a percentage from 0% to 100%, suggest five predictor variables that might be useful in predicting final grade. b. Write the multiple linear regression model for the conditional mean of the response variable, final grade.
Training Dept. of Nimrod Inc wants to develop a regression-based compensation model (compensation in $ per year, Comp) for its mid-level managers to encourage performance, loyalty, and continuing education based on three variables. ▪ Business unit-profitability (Profit per year in $). ▪ Working experiences in Nimrod Inc (Years). ▪ Whether or not a manager has a graduate degree (Grads). If a manager has a graduate degree equals 1, 0 otherwise. Table Attached Question: Use the (full) model to determine the compensation for a manager who has been working for twelve years in a company, no graduate degree, and Nimrod Inc profit of $8.000.000 last year.
Bus and subway ridership in Washington D. C. during the summer months is believed to be heavily tied to thenumber of tourists visiting the city. During the past 12 years, the following data have been obtained: Number of Tourists (in millions) 7 2 6 4 14 15 16 12 14 20 15 7 Ridership ( in 100,000) 15 10 13 15 25 27 24 20 27 44 34 17 a) Develop a linear regression model that would predict bus and subway ridership based on the number of tourists.b) Based on your model, predict the bus and subway ridership if there are eight million tourists in the city.c) Find the coefficient of determination and correlation coefficient between the two variables.
In multiple regression analysis, a problem that is not found in simple linear regressions can be caused by the correlation among the independent variables. This problem is called… …multicollaboration …multicollinearity …multicultural …correlation collateral damage
Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values: Price $2.70 $3.40 $1.90 $4.10 $3.00 $4.00 Using simple linear regression, and given that the price per cup is $1.80, the forecasted demand for mocha latte coffees will be cups (enter your response rounded to one decimal place). Number Sold 765 510 980 245 320 480
Training Dept. of Nimrod Inc wants to develop a regression-based compensation model (compensation in $ per year, Comp) for its mid-level managers to encourage performance, loyalty, and continuing education based on three variables. ▪ Business unit-profitability (Profit per year in $). ▪ Working experiences in Nimrod Inc (Years). ▪ Whether or not a manager has a graduate degree (Grads). If a manager has a graduate degree equals 1, 0 otherwise. Table Attached Question: Which explanatory variables and interaction terms are significant and not significant at alpha = 5%? Explain your answer briefly.
Jensen Tire & Auto is in the process of deciding whether to purchase a maintenance contract for its new computer wheel alignment and balancing machine. Managers feel that maintenance expense should be related to usage, and they collected the following information on weekly usage (hours) and annual maintenance expense (in hundreds of dollars). Weekly Usage Annual (hours) Maintenance Expense 15 22 12 27 22 35 30 42 34 52 19 36 26 38 33 44 42 57 40 45 a. Develop the estimated regression equation that relates annual maintenance expense (in hundreds of dollars) to weekly usage hours (to 3 decimals). Expense = Weekly Usage b. Test the significance of the relationship in part (a) at a 0.05 level of significance. Compute the value of the F test statistic (to 2 decimals). The p value is Select your answer- - Select your answer What is your less than 0.01 between 0.01 and 0.025 - Select your a between 0.025 and 0.05 c. Jensen expe between 0.05 and 0.10 greater than 0.10 sed 30 hours per week.…
According to an article, one may be able to predict an individual's level of support for ecology based on demographic and ideological characteristics. The multiple regression model proposed by the authors was the following. y = 3.60-.01.x₁ +.01.x2-.07x3+.12x4+.02xs-.04x6-.01x7.04x8-.02xg+e The variables are defined as follows. y = ecology score (higher values indicate a greater concern for ecology) x₁ = age times 10 x₂ = income (in thousands of dollars) x3 = gender (1 = male, 0 = female) X4 = race (1 = white, 0 = nonwhite) X5 = education (in years) x6 = ideology (4 = conservative, 3 = right of center, 2 = middle of the road, 1 = left of center, and 0 = liberal) X7 = social class (4 = upper, 3 = upper middle, 2 = middle, 1 = lower middle, 0 = lower) x8 = postmaterialist (1 if postmaterialist, 0 otherwise) x9 = materialist (1 if materialist, O otherwise) (a) Suppose you knew a person with the following characteristics: a 30 year old, white female with a college degree (20 years of…
A researcher is interested in examining the relationship between spousal abuse and child abuse. Specifically, they are interested in determining whether there is a predictive relationship between spousal abuse and child abuse in 5 county social services offices. Calculate the linear regression line for the following data. Note you have already calculated the first step to this analysis (Pearson's Correlation)

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

The Basic Practice of Statistics

Statistics

ISBN:

9781319042578

Author:

David S. Moore, William I. Notz, Michael A. Fligner

Publisher:

W. H. Freeman

Introduction to the Practice of Statistics

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS