Suppose the analyst constructs the simple linear regression model y = a + fin (x) +e. She estimates it to be 9-1-2ln (x). What is the residual in Excel output for the pair of observations x = 1.5 and y = 2?
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- There is a linear relationship between the number of chirps made by the stiped ground cricket and the air temperature. It was determined that the linear regression model is: y = 25.2 + 3.3x where x is the number of chirps per minute and y is the estimated temperature in degrees Fahrenheit. What is the predicted number of chirps made when the temperature is 60 degrees Fahrenheit? Round to the nearest integer. Do not include units.If the R-squared for a regression model relating the outcome y to an explanatory variable x is 0.9. This implies that there is a positive linear relationship between y and x. True or false?While collecting data on shoe sizes (y) compared to heights in inches (x) of male students in the class a student found that the shoe sizes ranged from size 7 to size 11 and the heights of the students ranged from 60 to 72 inches. The student ran a linear regression to get the function = 1 -x- 3 13 where y is the shoe size and is the height of the person in inches. What would be the shoe size for a student who was 73 inches tall? Shoe sizes only show up in incriments of 0.5 (ie. 7, 7.5, 8, 8.5, 9, 9.5, ....) so round to the nearest 1/2 shoe size. Show all your work.
- The managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c Click the icon to view the monthly data. a. Develop a simple linear regression model between billable hours and overhead costs. Overhead Costs = 247733.3 +(43.2000) x Billable Hours (Round the constant to one decimal place as needed. Round the coefficient to four decimal places as needed. Do not include the $ symbol in your answers.) b. Interpret the coefficients of your regression model. Specifically, what does the fixed component of the model mean to the consulting firm? Interpret the fixed term, bo. if appropriate. Choose the correct answer below. OA. The value of by is the predicted overhead costs for 0 billable hours. OB. For each increase of 1 unit in overhead costs, the predicted billable hours are estimated to increase by bo OC. It is not appropriate to interpret by. because its value is the predicted…please use this situation: A small theater company has a linear regression model to estimate y = the concession stand sales in dollars, based on knowing x = the number of people in attendance. The regression equation is: = 6.72x + 11.50 and the correlation coefficient was r = 0.781. The data set saw the number of people in attendance ranging from a minimum of 18 people to a maximum of 170 people. 1) How reliable would it be to make a prediction for the concession sales amount if there were 500 people in attendance? Explain.A real estate analyst has developed a multiple regression line, y = 60 + 0.068 x1 – 2.5 x2, to predict y = the market price of a home (in $1,000s), using two independent variables, x1 = the total number of square feet of living space, and x2 = the age of the house in years. With this regression model, the predicted price of a 10-year old home with 2,500 square feet of living area is __________. $205.00 $200,000.00 $205,000.00 $255,000.00
- In linear regression analysis, the coefficient for the x-variable when the y-variable is regressed on the x-variable can be thought of as: Note: more than one answer may be correct Group of answer choices How much the value of the predicted y-variable will change when the x-variable changes by one unit. In the simple (two variable) linear regression model, the coefficient can be thought as the slope coefficient that measures the responsiveness of y to changes in x. The estimated coefficient will change if the sample containing x and y changes. The sample coefficient is an estimate of the population coefficient Before interpreting the coefficient for the x-variable, we should test whether the coefficient is statistically significant.A biologist is interested in predicting the percentage increase in lung volume when inhaling (y) for a certain species of bird from the percentage of carbon dioxide in the atmosphere (x). Data collected from a random sample of 20 birds of this species were used to create the least-squares regression equation ŷ = 400-0.08x. Which of the following best describes the meaning of the slope of the least-squares regression line? (A) The percentage increase in lung volume when inhaling increases by 0.08 percent, on average, for every 1 percent increase in the carbon dioxide in the atmosphere. (B) The percentage of carbon dioxide in the atmosphere increases by 0.08 percent, on average, for every 1 percent increase in lung volume when inhaling. (C) The percentage increase in lung volume when inhaling decreases by 0.08 percent, on average, for every 1 percent increase in the carbon dioxide in the atmosphere. (D) The percentage of carbon dioxide in the atmosphere increases by 0.08 percent, on…A financial website reported the beta value for a certain company was 0.86. Betas for individual stocks are determined by simple linear regression. The dependent variable is the total return for the stock, and the independent variable is the total return for the stock market, such as the return of a market index. The slope of this regression equation is referred to as the stock's beta. Many financial analysts prefer to measure the risk of a stock by computing the stock's beta value. Suppose the following data show the monthly percentage returns for the market index and the company for a recent year. Month Market Index% Return Company% Return August -3 4 September 8 7 October 0 1 November -2 1 December -5 0 January 0 0 February 7 7 March 0 -2 April 2 0 May -5 -1 a. Develop the least squares estimated regression equation. (Let x = Market Index % Return (as a %), and let y = Company % Return (as a %). Round your numerical values to four decimal places.)
- The value of a sports franchise is directly related to the amount of revenue that a franchise can generate. The accompanying data table gives the value and the annual revenue for 15 major sport teams. Suppose you want to develop a simple linear regression model to predict franchise value based on annual revenue generated.There is a linear relationship between the number of chirps made by the stiped ground cricket and the air temperature. It was determined that the linear regression model is: y = 25.2 + 3.3x where x is the number of chirps per minute and y is the estimated temperature in degrees Fahrenheit. What is the temperature if a cricket chirps 18 times? Round to the nearest degree. Di not include units.The quality of the orange juice produced by a certain manufacturer is constantly monitored. Data collected on the sweetness index of an orange juice sample and amount of water-soluble pectin for 24 production runs at a juice manufacturing plant are shown in the accompanying table. Suppose a manufacturer wants to use simple linear regression to predict the sweetness (y) from the amount of pectin (x). Find and interpret the coefficient of determination, r2, and the coefficient of correlation, r. Find and interpret the coefficient of determination, r2. Select the correct choice below and fill in the answer box within your choice. (Round to three decimal places as needed.) A. The coefficient of determination, r2, is enter your response here. Sample variations in the amount of water-soluble pectin explain 100r2% of the sample variation in the sweetness index using the least squares line. B. The coefficient of determination, r2, is enter your…
