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- The following regression model was estimated. Q is the number of meals served, P is the average price per meal (customer ticket amount, in dollars), Rxis the average price charged by competitors (in dollars), Ad is the local advertising budget for each outlet (in dollars), and I is the average income per household in each outlet's immediate service area. Least squares estimation of the regression equation on the basis of the 25 data observations resulted in the estimated regression coefficients and other statistics given in Table below. Variable Coefficient Standard Error of Coefficient Intercept 128832.240 69974.818 Price (P) Competitor Price (Px) | Advertising (Ad) Income () -19875.954 4100.856 15467.936 459.280 0.261 0.094 8.780 1.017 Coefficient of determination R =83.3% (a) Interpret the coefficients of independent variables. (b) Test the significance of independent variables at 5% level of Significance. (c) Interpret R? with the help of adjusted R2. (d) Test for the overall…Find the equation of the regression line for the following data: X 23 43 29 32 46 22 37 y 56 8 44 35 13 48 20In order for applicants to work for the foreign-service department, they must take a test in the language of the country where they plan to work. The data below shows the relationship between the number of years that applicants have studied a particular language and the grades they received on the proficiency exam. Find the equation of the regression line for the given data. Number of years, x 4 4 3 6 2 7 3 Grades on test, y 61 68 75 82 73 90 58 93 72 滷 O A. =6.910x+46.261 O B. y = 46.261x+6.910 OC. v=6.910x-46.261 OD. O D. y = 46.261x -6.910 Fi St 5e Assig
- Calculate the regression coefficient and obtain the lines of regression for the following data: USE MICROSOFT EXCELWhich of the following is true of a linear regression line? a. Located as close as possible to all the points of a scatter chart. B. Is defined by an equation having 2 parameters: the slope and the intercept c. Provides an approximate relationship between the values of two parameters d. All of the aboveA supermarket has a chain of 12 stores in Kuwait. Sales figures and profits for the stores are given in the following table. Obtain a regression equation for the data, and predict profit for a store assuming sales of $20 million. Show all calculations in detail. Sales, x (in millions of dollars) Profits, y (in millions of dollars) 7 0.12 2 0.1 6 0.13 12 0.15 14 0.25 16 0.2 10 0.24 12 0.2 14 0.27 20 0.15 7 0.34 8 0.17
- Consider the following table, find the value of the INTERCEPT (b) of the regression line. X Values Y Values 23 8 22 25 4 24 7 21For the following data set, find the regression line without using a calculator. x 1 2 3 4 y 26 8 9 y =The following table contains ACT scores and the GPA for eight college students. Estimate the relationship between GPA (yi) and ACT (x;) using OLS regression by hand. Report the intercept and slope estimates: Student 1 2 3 4 5 6 7 8 GPA 2.8 3.4 3.0 3.5 3.6 3.0 2.7 3.7 ŷ₁ =B₁ + B₁x₁ ACT 21 24 26 27 29 25 25 30 y X ŷ₁
- Which of the multivariate regression parameters listed below would be best interpreted as: the proportion of variation in the dependent variable explain by all the independent variables in the model. a b1 X1 R23. Find the equation of the regression line for the data and graph the scatter plot for the data No of ads (x) Sales (y) 2 5 8 8 10 12 2 4 7 9 10 Find yl at x = 47 adsd. Draw the regression line on the scatter diagram using the yp points.e. Find y for x = 50 x 20 10 30 40 60 70 y 20 20 30 50 60 80