The large national bank charges local companies for using theirservices. A bank official reported the results of a regression analysisdesigned to predict the bank's charges (Y), measured in RM permonth for services rendered to local companies. One independentvariable used to predict service charge to a company is the thecompany's sales revenue (X), measured in millions of RM. Data for 21companies who use the bank's services were used to fit the model.The results of the simple linear regression are provided below. Basedon results below, interpret the standard error of the estimate in themodel. *ŷ = -2,700 + 20xSxy = 65,two – tailed p – value = 0.034 (for testing B%3DAbout 95% of the observed service charges fall within RM65 of the leastsquares line.About 95% of the observed service charges equal their corresponding predictedvalues..About 95% of the observed service charges fall within RM130 of the leastsquares line.For every RM1 million increase in sales revenue, we expect a service charge toincrease RM65.

Given Information: Regression equation y^=-2700+20x SXY=65 In testing of slope, p-value for the two…

Answered: The large national bank charges local…

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

The accompanying table shows results from regressions performed on data from a random sample of 21 cars. The response (y) variable is CITY (fuel consumption in mi/gal). The predictor (x) variables are WT (weight in pounds), DISP (engine displacement in liters), and HWY (highway fuel consumption in mi/gal). Which regression equation is best for predicting city fuel consumption? Why? Click the icon to view the table of regression equations. Choose the correct answer below. A. The equation CITY=6.86 -0.00131WT -0.258DISP+0.659HWY is best because it has a low P-value and the highest value of R². B. The equation CITY=6.73 -0.00157WT +0.668HWY is best because it has a low P-value and the highest adjusted value of R². C. The equation CITY= -3.15+0.823HWY is best because it has a low P-value and its R² and adjusted R² values are comparable to the R² and adjusted R² values of equations with more predictor variables. O D. The equation CITY=6.86 -0.00131WT-0.258DISP + 0.659HWY is best because it…
Given that the systolic blood pressure in the right arm is 90 mm Hg, the best systolic blood pressure in the left arm is how many mm Hg?
Explain what a residual is and how this relates to the best-fit regression model.
How to know if obtaining a regression equation for the data appear reasonable?
when a regression is used as a method of predicting dependent variables from one or more independent variables. How are the independent variables different from each other yet related to the dependent variable?
The accompanying table shows results from regressions performed on data from a random sample of 21 cars. The response (y) variable is CITY (fuel consumption in mi/gal). The predictor (x) variables are WT (weight in pounds), DISP (engine displacement in liters), and HWY (highway fuel consumption in mi/gal). The equation CITY - 3.17 +0.823HWY was previously determined to be the best for predicting city fuel consumption. A car weighs 2700 lb, it has an engine displacement of 1.6 L, and its highway fuel consumption is 35 mi/gal. What is the best predicted value of the city fuel consumption? Is that predicted value likely to be a good estimate? Is that predicted value likely to be very accurate? Click the icon to view the table of regression equations. The best predicted value of the city fuel consumption is (Type an integer or a decimal. Do not round.). Regression Table I R² Adjusted R2 WT/DISP WT/HWY Predictor (x) Variables P-Value WT/DISP/HWY 0.000 0.942 0.000 0.748 0.000 0.942 0.000…
A frequent flyer was interested in the relationship between dollars spent on flying and the distance flown. She sampled 20 frequent flyers of a certain airline. She collected the number of miles flown in the previous year and the total amount of money the flyer spent. A regression line of distance flown on money spent was fit to the data: \hat y = 24000 + 10xy^=24000+10x. A person who spent $1000 is predicted to have flown:
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
If you have 2 datasets on which you have conducted a regression analysis, how would you determine whether you can combine them into one dataset?
Describe regression variation in terms of variation in Y.
The following regression equation is based on the analysis of four variables: SM_DOLLARS is the dollar amount of a watershed conservation agency's weekly spending on social media ads. RADIO_ADS is the number of radio advertisements aired weekly by the agency. WS_DOLLARS is the dollar amount of the agency’s weekly spending on web search ads. The variable WEB_VISITS is the number of weekly visitors to their educational website. These data have been recorded every week for the past three years. WEB_VISITS (expected) = 208 + 1.25*SM_DOLLARS + 1.5*RADIO_ADS + 1.2*WS_DOLLARS The data meet the assumptions for regression analysis, and the regression results, including the coefficients, were found to be statistically significant. Initially, $320 was spent on social media ads, 10 radio ads were aired, and $120 spent on web search ads. How many additional weekly web visits would you predict when the agency increases its weekly spending on social media ads by $440 without changing the…
In calculating a simple regression for average number of drinks consumed (x) and grade point average (y), you get a slope coefficient (b) of -.15 and a y intercept of 2.50. Using the formula Y = a + bX, what would the predicted grade point average be for a student who averaged 1.0 drinks per week?

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