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A: This do not require any introduction
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True or False:
R-squared is a non-decreasing function for the number of independent variables we include in a multiple linear regression, so we should include as many explanatory variables in a regression model as possible.
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- Sales over the past 10 years are shown below. Using the method of least squares, calculate the values of a and b to complete this regression equation. Year Sales 1 1,640 2 1,850 3 1,240 4 1,250 5 1,980 6 1,400 7 1,060 8 1,430 9 1,050 10 1,990 (Indicate a negative answer using a "-" sign. Do not round intermediate calculations and round your answer to 3 decimal places.) What is your forecast for next year's sales? (Do not round intermediate calculations and round your answer to 2 decimal places.)Cross-Sectional Regression Analysis WasteTec is a large construction company that specializesin the construction of large wastewater treatment plants and recycling plants. A major cost driver ineither type of facility is the capacity of the plant. For example, the capacity of a recycling plant ismeasured by the number of tons of water per day (TPD) that the plant can process. These plants canvary in size from a few hundred TPD to as many as several thousand TPD. Regression analysis is auseful method to estimate the cost of a new plant by using a regression equation developed from priorplant construction projects. The dependent variable of the regression is the actual construction costsof each project, while the independent variable is the TPD for the plant. Below is a sample of somerecent projects and the related construction costs (in thousands):TPD CostsCommerce, CA 360 $ 59,369Hudson Falls, NY 400 77,013Layton, UT 420 50,405Oxford Township, NJ 450 75,779Savannah, GA 500…4. The number of auto accidents in Athens, Ohio, is related to the regional number of registered automobiles in thou- sands (X1), alcoholic beverage sales in $10,000s (X2), and rainfall in inches (X3). Furthermore, the regression formula has been calculated as: Y=a+b1X1 +b2X2 +b3X3 Where Y = number of automobile accidents a = 7.5 bl = 3.5 b2 = 4.5 b3 = 2.5 Calculate the expected number of automobile accidents under conditions a, b, and c: X, X2 X, (a) 2 3 (b) 5 1 (c) 7 2 N m4
- In a research study, a linear regression analysis was performed to investigate the relationship between the size of a household (number of family members) and their monthly grocery expenses (in dollars). The linear model obtained is Y=200+150X Where: Y represents the predicted monthly grocery expenses and X represents the size of the household (number of family members). Interpret the slope in context, including the numeric value of the slope and the units of both X and Y. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial P 10pt > A VV Ix SE X QS |||| 0 WORDS POWERED BY TINYA business conducted a linear regression to estimate its demand function and obtain the following demand function Q = 200 - 1.5P + 0.55A - 2.8Py + 0.05Inc, where P is price and A is advertising. When P = $21. A = $30 and Quantity = 160, find the profit-maximizing advertising-to-sales ratio (hint: first find the price and advertising elasticities). Type as either a decimal out two spaces, like 0.10 OR as a percentage like 10%. %3! %3! Question 17 During recessions, people's reservation price (aka reserve price) searching. which results in O drops; less O rises; more drops; more O rises; lessDevelop a spreadsheet for the question. The vice president of finance has looked at your ooriginal scoring model and feels that tax considerations should be included in teh model with a weight of 15. In addition, the VP has scored the methods on tax considerations as follows: method A recieved a score of 3, method B recieved a score of 2, and Method C recieved a score of 1. How would this additional information affect your recommendation?
- In the simple regression model under MLR.1 through MLR.4, we argued that the slope estimator, Bi. is consistent for B1. Using Bo = y – Biữi, show that plim Bo = Bo- [You need to use the consistency of Bị and the law of large numbers, along with the fact that o = E(y) – B,E(x).]Anderson wants to study all 300,000 consumers versus 15,000 consumers of Quby, an energy drink manufacturer. The drink is tailored to physically fit athletes and children. If Anderson decides to study all 300,000 consumers of Quby, these people are known as: Population Data Representation SampleRegression analysis is a powerful and commonly used tool in business research. One important step in regression is to determine the dependent and independent variable(s). In a bivariate regression, which variable is the dependent variable and which one is the independent variable? What does the intercept of a regression tell? What does the slope of a regression tell? What are some of the main uses of a regression? Provide an example of a situation wherein a bivariate regression would be a good choice for analyzing data. Justify your answers using examples and reasoning.
- A company hires you to develop a linear regression forecasting model. Based on the company's historical sales information, you determine the intercept value of the model to be 1,500. You also find the slope value is -25. If after developing the model you are given a value of X = 8, which of the following is the resulting forecast error using this model if the actual sales is 1250?The number of auto accidents in Athens, Ohio is related to the regional number of regisgtered automobiles in thousands (X1) alcholic beverage sales in $10,000 (X2) and rainfall in inches (X3). Furthermore the regression formula has been calculated as: y=a+b1X1+b2x2+b3X3 where y= number of automobile accidents a= 8.0 b1= 3.5 b2=5.0 b3= 2.4 For the given values of X1,X2, and X3, the expected number of accidents will be ( round your responses to one decimal place) X1 X2 X3 # of accidents 6.0 7.0 0.0 [__]The following gives the number of accidents that occurred on Florida State Highway 101 during the last 4 months: Month Jan Feb Mar Apr Number of Accidents 30 48 70 90 Part 2 Using the least-squares regression LOADING... method, the trend equation for forecasting is (round your responses to two decimal places): y = enter your response here + enter your response here x Y=?+?x
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