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The points on the population regression line will have coordinates Group of answer choices (tip, average sale amount). (tip, predicted sale amount) (predicted sale amount, tip). (tip, sale amount). (average sale amount, tip). (predicted tip, sale amount). (sale amount, predicted tip). (sale amount, tip). (sale amount, average tip). (average tip, sale amount).

The points on the population regression line will have coordinates Group of answer choices (tip, average sale amount). (tip, predicted sale amount) (predicted sale amount, tip). (tip, sale amount). (average sale amount, tip). (predicted tip, sale amount). (sale amount, predicted tip). (sale amount, tip). (sale amount, average tip). (average tip, sale amount).

MATLAB: An Introduction with Applications
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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The points on the population regression line will have coordinates

Group of answer choices
(tip, average sale amount).
(tip, predicted sale amount)
(predicted sale amount, tip).
(tip, sale amount).
(average sale amount, tip).
(predicted tip, sale amount).
(sale amount, predicted tip).
(sale amount, tip).
(sale amount, average tip).
(average tip, sale amount).
### ANOVA Table | | df | SS | MS | F | Significance F | |----------|----|-------------|-------------|------------|-----------------| | Regression | 1 | 24360.81754 | 24360.81754 | 29.50102381 | 1.15405E-06 | | Residual | 58 | 47894.18246 | 825.7617666 | | | | Total | 59 | 72255 | | | | ### Coefficients Table | | Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | |-------------|---------------|----------------|-------------|-------------|--------------|-------------| | Intercept | 56.95659334 | 12.27319518 | 4.640730674 | 2.02919E-05 | 32.38912416 | 81.52406252 | | Sale Amount | 0.126993685 | 0.023381027 | 5.431484494 | 1.15405E-06 | 0.080191475 | 0.173795894 | © 2020 Radha Bose Florida State University Department of Statistics ### Explanation The ANOVA table displays the results of an analysis of variance, highlighting the variance between the regression model and residuals. The 'Significance F' value indicates the statistical significance of the model. The coefficients table provides details about the regression coefficients. The intercept and the coefficient for "Sale Amount" both have associated standard errors, t-statistics, P-values, and confidence intervals (Lower 95% and Upper 95%). These metrics help in assessing the reliability and significance of the coefficients in predicting outcomes.
Transcribed Image Text:### ANOVA Table | | df | SS | MS | F | Significance F | |----------|----|-------------|-------------|------------|-----------------| | Regression | 1 | 24360.81754 | 24360.81754 | 29.50102381 | 1.15405E-06 | | Residual | 58 | 47894.18246 | 825.7617666 | | | | Total | 59 | 72255 | | | | ### Coefficients Table | | Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | |-------------|---------------|----------------|-------------|-------------|--------------|-------------| | Intercept | 56.95659334 | 12.27319518 | 4.640730674 | 2.02919E-05 | 32.38912416 | 81.52406252 | | Sale Amount | 0.126993685 | 0.023381027 | 5.431484494 | 1.15405E-06 | 0.080191475 | 0.173795894 | © 2020 Radha Bose Florida State University Department of Statistics ### Explanation The ANOVA table displays the results of an analysis of variance, highlighting the variance between the regression model and residuals. The 'Significance F' value indicates the statistical significance of the model. The coefficients table provides details about the regression coefficients. The intercept and the coefficient for "Sale Amount" both have associated standard errors, t-statistics, P-values, and confidence intervals (Lower 95% and Upper 95%). These metrics help in assessing the reliability and significance of the coefficients in predicting outcomes.
### Analysis of Weekend Sales and Tips at Sonny’s Restaurant in Tallahassee, FL The graph and Excel summary output below provide insights into weekend sales and tips at a specific Sonny’s restaurant in Tallahassee, FL. This data was collected by Joshua Gonzalez, an employee at Sonny’s, for a group project during the Summer 2007 STA 2122 class. #### Scatterplot Analysis **SLRI Sonny’s Scatterplot:** - **X-Axis:** Sale Amount ($) - **Y-Axis:** Tip ($) The scatterplot displays a positive correlation between the sale amount and the tip amount, indicating that as sales increase, tips tend to increase as well. Each point represents a weekend transaction, labeled A through H for specific reference. #### Summary Output **Regression Statistics:** - **Multiple R:** 0.58064672 - **R Square:** 0.337150613 - **Adjusted R Square:** 0.325722175 - **Standard Error:** 28.73607083 - **Observations:** 60 **Interpretation:** The regression statistics suggest a moderate positive relationship between sales and tips, with an R Square of approximately 0.34, indicating that about 34% of the variance in tips can be explained by the sales amount. The standard error of approximately 28.74 signifies the average distance that the observed values fall from the regression line. The dataset includes 60 observations, providing a substantial sample for analysis. This analysis is crucial for understanding the dynamics between sales and tips and can be used for strategic decision-making in restaurant management and operations.
Transcribed Image Text:### Analysis of Weekend Sales and Tips at Sonny’s Restaurant in Tallahassee, FL The graph and Excel summary output below provide insights into weekend sales and tips at a specific Sonny’s restaurant in Tallahassee, FL. This data was collected by Joshua Gonzalez, an employee at Sonny’s, for a group project during the Summer 2007 STA 2122 class. #### Scatterplot Analysis **SLRI Sonny’s Scatterplot:** - **X-Axis:** Sale Amount ($) - **Y-Axis:** Tip ($) The scatterplot displays a positive correlation between the sale amount and the tip amount, indicating that as sales increase, tips tend to increase as well. Each point represents a weekend transaction, labeled A through H for specific reference. #### Summary Output **Regression Statistics:** - **Multiple R:** 0.58064672 - **R Square:** 0.337150613 - **Adjusted R Square:** 0.325722175 - **Standard Error:** 28.73607083 - **Observations:** 60 **Interpretation:** The regression statistics suggest a moderate positive relationship between sales and tips, with an R Square of approximately 0.34, indicating that about 34% of the variance in tips can be explained by the sales amount. The standard error of approximately 28.74 signifies the average distance that the observed values fall from the regression line. The dataset includes 60 observations, providing a substantial sample for analysis. This analysis is crucial for understanding the dynamics between sales and tips and can be used for strategic decision-making in restaurant management and operations.
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