Star, Inc. used Excel to run a least-squares regression analysis, which resulted in the following output:Regression Statistics.Multiple RR SquareObservationsInterceptProduction (X)Multiple ChoiceWhat is Star's variable cost per unit?O$0.93$2.87$11.930.98140.957630$12.89Coefficients Standard Error T Stat P-Value2.870.02174,18211.9312.89060,7820.9256

The least square regression analysis helps us to identify the association or correlation between…

Answered: Star, Inc. used Excel to run a…

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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Statistical software is generally used to test the significance of a regression model. The table below shows software output for a least squares regression line. Fill in the blanks with the correct answers, using the table above. Assume a significance level of 0.05. The variable "unemp" is the_______variable. The value of the slope of the regression line is_______. The slope of the regression line is not significantly different from______because the p-value is______ which is larger than 0.05.
Because elderly people may have difficulty standing to have their height measured, a study looked at the relationship between overall height and height to the knee. Here are data (in centimeters) for five elderly men: Knee Height I 57 45.2 43.8 47.2 57.5 192.3 152.2 145.7 163.2 173.2 Height y What is the equation of the least-squares regression line for predicting height from knee height? ANSWER: y %3D
Report the equation of the regression line and interpret it in the context of the problem
Draw a graph of the least-squares regression line on your scatterplot. (For hand-drawing, round the slope and y-intercept to one decimal place before drawing the line.) Be sure to show how you were able to plot the line starting with its equation. Model City Miles per Gallon Highway Miles per Gallon Acura RLX 20 29 BMW 530i 24 34 Buick LaCrosse eAssist 25 35 Chevrolet Malibu 29 36 Ford Hybrid FWD 43 41 Honda Civic 32 42 Infiniti Q50 Red Sport 20 26 Kia Forte 30 40 Lexus ES 350 22 33 Mercedes Benz AMG S 21 30 Mini Cooper Clubman 24 32 Nissan Maxima 20 30 Suburu Legacy AWD 25 34 Toyota Prius ECO 58 53
Yummy Lunch Restaurant needs to decide the most profitable location for their business expansion. Marketing manager plans to use a multiple regression model to achieve their target. His model considers yearly revenue as the dependent variable. He found that number of people within 2KM (People), Mean household income(income), no of competitors and price as explanatory variables of company yearly revenue. The following is the descriptive statistics and regression output from Excel. Revenue People Income Competitors Price Mean 343965.68 5970.26 41522.96 2.8 5.68 Standard Error 5307.89863 139.0845281 582.1376385 0.142857 0.051030203 Median 345166.5 6032 41339.5 3 5.75 Mode #N/A 5917 #N/A 3 6 Standard Deviation 37532.51115 983.47613 4116.334718 1.010153 0.360838027 Sample Variance 1408689393 967225.2984 16944211.51 1.020408 0.130204082 Sum 17198284 298513 2076148…
Using data from 50 workers, a researcher estimates Wage Be + B₁Education + B2Experience + B3Age +, where Wage is the hourly wage rate and Education, Experience, and Age are the years of higher education, the years of experience, and the age of the worker, respectively. A portion of the regression results is shown in the following table. Coefficients Standard Error t Stat p-Value Intercept 7.45 3.79 1.97 0.0554 Education 1.06 0.37 2.86 0.0063 Experience 0.37 0.18 2.06 0.0455 Age -0.02 0.06 -0.33 0.7404 a-1. Interpret the point estimate for ẞ1. As Education increases by 1 year, Wage is predicted to increase by 1.06/hour. As Education increases by 1 year, Wage is predicted to increase by 0.37/hour. As Education increases by 1 year, Wage is predicted to increase by 1.06/hour, holding Age and Experience constant. As Education increases by 1 year, Wage is predicted to increase by 0.37/hour, holding Age and Experience constant. a-2. Interpret the point estimate for ẞ2. ○ As Experience…
(e) Find the least-squares regression line treating square footage as the explanatory variable.
Yummy Lunch Restaurant needs to decide the most profitable location for their business expansion. Marketing manager plans to use a multiple regression model to achieve their target. His model considers yearly revenue as the dependent variable. He found that number of people within 2KM (People), Mean household income(income), no of competitors and price as explanatory variables of company yearly revenue. The following is the descriptive statistics and regression output from Excel. Revenue People Income Competitors Price Mean 343965.68 5970.26 41522.96 2.8 5.68 Standard Error 5307.89863 139.0845281 582.1376385 0.142857 0.051030203 Median 345166.5 6032 41339.5 3 5.75 Mode #N/A 5917 #N/A 3 6 Standard Deviation 37532.51115 983.47613 4116.334718 1.010153 0.360838027 Sample Variance 1408689393 967225.2984 16944211.51 1.020408 0.130204082 Sum 17198284 298513 2076148 140…
Researchers are investigating how the amount of monthly rainfall, measured in centimeters (cm), affects the monthly growth, in cm, of a certain plant. From a sample of data, the researchers created a least- squares regression line. Computer output is shown in the following table. Variable DF Estimate SE T Intercept 1 0.75 0.350 2.14 Rainfall 1 0.15 0.025 6.00 Which of the following statements is an interpretation of the value 0.75 shown in the table? A Monthly growth is expected to increase by 0.75 cm when rainfall increases by 1 cm. Rainfall is expected to increase by 0.75 cm when monthly growth increases by 1 cm. For a month with 0 cm of rainfall, the monthly growth is expected to be approximately 0.75 cm. For a plant with 0 cm of monthly growth, the month had an expected rainfall of approximately 0.75 cm. E Approximately 75% of the variability in monthly growth is due to its linear relationship with rainfall.

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