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Thompson Photo Works purchased several new, highly sophisticated processing machines. The production department needed some guidance with respect to qualifications needed by an operator. Is age a factor? Is the length of service as an operator (in years) important? To evaluate the factors needed to estimate performance on the new processing machines, four variables were selected: X₁ Length of time an employee was in the Industry X₂Mechanical aptitude test score X3 - Prior on-the-job rating X4 - Age Performance on the new machine is designated y. Thirty employees were randomly selected and data were collected for each of the variables. A few results follow: Mechanical Aptitude Length of Time in Industry, X1 5 Name Mike Miraglia Sue Trythall Performance on New Machine, The equation is: 9-11.6+0.5x₁ +0.186x₂ +0.212x3 +0.002x4 a. What is this equation called? One 118 118 Multiple regression equation Multiple standard error of estimate Coefficient of determination b. How many dependent and Independent variables are there? dependent, Answer is complete and correct. Four independent. score, X2 349 345 Prior On-the-Job Performance, 123 115 Age, X4 34 21

Thompson Photo Works purchased several new, highly sophisticated processing machines. The production department needed some guidance with respect to qualifications needed by an operator. Is age a factor? Is the length of service as an operator (in years) important? To evaluate the factors needed to estimate performance on the new processing machines, four variables were selected: X₁ Length of time an employee was in the Industry X₂Mechanical aptitude test score X3 - Prior on-the-job rating X4 - Age Performance on the new machine is designated y. Thirty employees were randomly selected and data were collected for each of the variables. A few results follow: Mechanical Aptitude Length of Time in Industry, X1 5 Name Mike Miraglia Sue Trythall Performance on New Machine, The equation is: 9-11.6+0.5x₁ +0.186x₂ +0.212x3 +0.002x4 a. What is this equation called? One 118 118 Multiple regression equation Multiple standard error of estimate Coefficient of determination b. How many dependent and Independent variables are there? dependent, Answer is complete and correct. Four independent. score, X2 349 345 Prior On-the-Job Performance, 123 115 Age, X4 34 21

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Thompson Photo Works purchased several new, highly sophisticated processing machines. The production department needed some guidance with respect to qualifications needed by an operator. Is age a factor? Is the length of service as an operator (In years) Important? To evaluate the factors needed to estimate performance on the new processing machines, four variables were selected: X₁ = Length of time an employee was in the Industry x₂ = Mechanical aptitude test score x3 = Prior on-the-job rating X4 = Age Performance on the new machine is designated y. Thirty employees were randomly selected and data were collected for each of the variables. A few results follow: Mechanical Aptitude Length of Time in Industry, X1 5 7 Name Mike Miraglia Sue Trythall The equation is: y = 11.6 +0.5x₁ + 0.186x2 + 0.212x3 + 0.002x4 a. What is this equation called? Performance on New Machine, y 118 118 One Ⓒ Multiple regression equation O Multiple standard error of estimate O Coefficient of determination b. How many dependent and Independent variables are there? ✓ Answer is complete and correct. Four ✔ independent. ✓dependent, Score, X2 349 345 Prior On-the-Job Performance, X3 123 115 Age, X4 34 21
Transcribed Image Text:Thompson Photo Works purchased several new, highly sophisticated processing machines. The production department needed some guidance with respect to qualifications needed by an operator. Is age a factor? Is the length of service as an operator (In years) Important? To evaluate the factors needed to estimate performance on the new processing machines, four variables were selected: X₁ = Length of time an employee was in the Industry x₂ = Mechanical aptitude test score x3 = Prior on-the-job rating X4 = Age Performance on the new machine is designated y. Thirty employees were randomly selected and data were collected for each of the variables. A few results follow: Mechanical Aptitude Length of Time in Industry, X1 5 7 Name Mike Miraglia Sue Trythall The equation is: y = 11.6 +0.5x₁ + 0.186x2 + 0.212x3 + 0.002x4 a. What is this equation called? Performance on New Machine, y 118 118 One Ⓒ Multiple regression equation O Multiple standard error of estimate O Coefficient of determination b. How many dependent and Independent variables are there? ✓ Answer is complete and correct. Four ✔ independent. ✓dependent, Score, X2 349 345 Prior On-the-Job Performance, X3 123 115 Age, X4 34 21
c. What is the number 0.186 called? Ⓒ Regression coefficient O Coefficient of determination O Homoscedasticity O Multicollinearity d. As age increases by one year, how much does estimated performance on the new machine Increase? (Round your answer to 3 decimal places.) ✔ Answer is complete and correct. 0.002 The estimated performane increases by e. Carl Knox applied for a job at Photo Works. He has been in the business for 10 years and scored 260 on the mechanical aptitude test. Carl's prior on-the-job performance rating is 90, and he is 45 years old. Estimate Carl's performance on the new machine. (Round your answer to 3 decimal places.) Answer is complete but not entirely correct. Estimated performane 105.014 X
Transcribed Image Text:c. What is the number 0.186 called? Ⓒ Regression coefficient O Coefficient of determination O Homoscedasticity O Multicollinearity d. As age increases by one year, how much does estimated performance on the new machine Increase? (Round your answer to 3 decimal places.) ✔ Answer is complete and correct. 0.002 The estimated performane increases by e. Carl Knox applied for a job at Photo Works. He has been in the business for 10 years and scored 260 on the mechanical aptitude test. Carl's prior on-the-job performance rating is 90, and he is 45 years old. Estimate Carl's performance on the new machine. (Round your answer to 3 decimal places.) Answer is complete but not entirely correct. Estimated performane 105.014 X
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