Suppose the Sherwin-Williams Company is interested in developing a simple regression model with paint sales (Y) as the dependent variable and selling price (P) as the independent variable. Complete the following worksheet and then use it to determine the estimated regression line. Sales Region i 1 2 3 4 5 6 7 8 9 10 Total Regression Parameters Slope (B) Intercept (a) O 15.166 16.614 18.632 O 3.299 Selling Price ($/Gallon) Xi 15 13.5 16.5 14.5 17 16 13 18 12 15.5 What is the standard error of the estimate (se)? 2.685 151 O2.942 Sales (x 1000 Gal) O No Yi 160 220 140 190 120 160 190 150 210 190 In words, for a dollar increase in the selling price, the expected sales will increase OYes 1,730 Estimations -14.20 387.43 TiYi 2,400 2,970 2,310 2,755 2,040 2,560 2,470 2,700 2,520 2,945 What is the estimate of the standard deviation of the estimated slope (st)? 25,670 ▼ 225 182.25 272.25 210.25 289 256 169 324 144 240.25 2,312 3₁² 25,600 48,400 19,600 36,100 14,400 25,600 36,100 22,500 44,100 36,100 308,500 ▼ by 14,200 Can you reject the hypothesis (at the 0.05 level of significance) that there is no relationship (i.e., B= 0) between the variables? (Hint: to.025,8 = 2.306) gallons in a given sales region.
Suppose the Sherwin-Williams Company is interested in developing a simple regression model with paint sales (Y) as the dependent variable and selling price (P) as the independent variable. Complete the following worksheet and then use it to determine the estimated regression line. Sales Region i 1 2 3 4 5 6 7 8 9 10 Total Regression Parameters Slope (B) Intercept (a) O 15.166 16.614 18.632 O 3.299 Selling Price ($/Gallon) Xi 15 13.5 16.5 14.5 17 16 13 18 12 15.5 What is the standard error of the estimate (se)? 2.685 151 O2.942 Sales (x 1000 Gal) O No Yi 160 220 140 190 120 160 190 150 210 190 In words, for a dollar increase in the selling price, the expected sales will increase OYes 1,730 Estimations -14.20 387.43 TiYi 2,400 2,970 2,310 2,755 2,040 2,560 2,470 2,700 2,520 2,945 What is the estimate of the standard deviation of the estimated slope (st)? 25,670 ▼ 225 182.25 272.25 210.25 289 256 169 324 144 240.25 2,312 3₁² 25,600 48,400 19,600 36,100 14,400 25,600 36,100 22,500 44,100 36,100 308,500 ▼ by 14,200 Can you reject the hypothesis (at the 0.05 level of significance) that there is no relationship (i.e., B= 0) between the variables? (Hint: to.025,8 = 2.306) gallons in a given sales region.
MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Transcribed Image Text:Suppose the Sherwin-Williams Company is interested in developing a simple regression model with paint sales (Y) as the dependent variable and
selling price (P) as the independent variable.
Complete the following worksheet and then use it to determine the estimated regression line.
Sales Region
i
1
NM + 55 00 a
2
3
6
7
8
9
10
Total
Regression Parameters
Slope (B)
Intercept (a)
15.166
O 16.614
18.632
3.299
Selling Price
($/Gallon)
Xi
15
13.5
16.5
14.5
17
16
13
18
12
15.5
2.685
151
2.942
Sales
(x 1000 Gal)
What is the standard error of the estimate (se)?
No
Yes
Yi
160
220
140
190
-14.20
387.43
120
160
190
150
210
190
In words, for a dollar increase in the selling price, the expected sales will increase by 14,200
1,730
Estimations
Xi Yi
2,400
2,970
2,310
2,755
2,040
2,560
2,470
2,700
2,520
2,945
What is the estimate of the standard deviation of the estimated slope (st)?
25,670
X₂ 2
225
182.25
272.25
210.25
289
256
169
324
144
240.25
Yi
25,600
48,400
19,600
36,100
14,400
25,600
36,100
22,500
44,100
36,100
2,312 308,500
Can you reject the hypothesis (at the 0.05 level of significance) that there is no relationship (i.e., B= 0) between the variables? (Hint:
to.025,8 = 2.306)
gallons in a given sales region.
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