Use the Regression tool on the accompanying wedding data, using the wedding cost as the dependent variable and attendance as the independent variable. Complete parts a through c. Click the icon to view the wedding data. OA. The Y-intercept indicates that a wedding with an attendance of 0 people has a mean predicted cost of $bo B. The Y-intercept indicates that a wedding with a cost of $0 has a mean predicted attendance of by people. OC. It is not appropriate to interpret the Y-intercept because it is outside the range of observed wedding costs. D. It is not appropriate to interpret the Y-intercept because it is outside the range of observed attendances. Identify and interpret the meaning of the coefficient of determination in this problem. Select the correct choice below and fill in the answer box to complete your choice. (Round to three decimal places as needed.) Wedding Attendance and Cost Wedding Cost Attendance 58700 300 54000 350 45000 150 OA. The coefficient of determination is R2= This value is the proportion of variation in attendance that is explained by the variation in wedding cost. 42000 200 34000 250 OB. The coefficient of determination is R2= This value is the probability that the correlation between the variables is statistically significant. 31500 150 31000 250 Ос The coefficient of determination is R2 This value is the probability that the slope of the regression line is statistically significant. 30000 300 28000 250 D. The coefficient of determination is R = 0.561. This value is the proportion of variation in wedding cost that is explained by the variation in attendance. 28000 200 27000 150 Interpret the values given in the test of the population slope. Use a 0.05 level of significance. State the null and alternative hypotheses the test. 26000 200 24000 200 0 Ho B H₁₁ (Type integers or decimals. Do not round.) Identify the test statistic. t-5.42 (Round to two decimal places as needed.) Identify the p-value. The p-value is 0.000 (Round to three decimal places as needed.) State the conclusion. 22000 200 21000 200 21000 200 19000 100 18000 150 18000 200 18000 150 17000 100 15000 100 12000 150 7000 50 5000 Wedding Cost Attendance Reject H. There is sufficient evidence of a linear relationship between wedding cost and attendance. Identify and interpret the 95% confidence interval estimate of the population slope. The confidence interval is Print Done With 95% confidence, it can be said that true expected mean increase in per additional the wedding is within the bounds of the confidence interval. (Round to three decimal places as needed.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Use the Regression tool on the accompanying wedding data, using the wedding cost as the dependent variable and attendance as the independent variable. Complete parts a through c.
Click the icon to view the wedding data.
OA. The Y-intercept indicates that a wedding with an attendance of 0 people has a mean predicted cost of $bo
B. The Y-intercept indicates that a wedding with a cost of $0 has a mean predicted attendance of by people.
OC. It is not appropriate to interpret the Y-intercept because it is outside the range of observed wedding costs.
D. It is not appropriate to interpret the Y-intercept because it is outside the range of observed attendances.
Identify and interpret the meaning of the coefficient of determination in this problem. Select the correct choice below and fill in the answer box to complete your choice.
(Round to three decimal places as needed.)
Wedding Attendance and Cost
Wedding Cost
Attendance
58700
300
54000
350
45000
150
OA. The coefficient of determination is R2=
This value is the proportion of variation in attendance that is explained by the variation in wedding cost.
42000
200
34000
250
OB. The coefficient of determination is R2=
This value is the probability that the correlation between the variables is statistically significant.
31500
150
31000
250
Ос
The coefficient of determination is R2
This value is the probability that the slope of the regression line is statistically significant.
30000
300
28000
250
D.
The coefficient of determination is R = 0.561. This value is the proportion of variation in wedding cost that is explained by the variation in attendance.
28000
200
27000
150
Interpret the values given in the test of the population slope. Use a 0.05 level of significance. State the null and alternative hypotheses the test.
26000
200
24000
200
0
Ho B
H₁₁
(Type integers or decimals. Do not round.)
Identify the test statistic.
t-5.42
(Round to two decimal places as needed.)
Identify the p-value.
The p-value is 0.000
(Round to three decimal places as needed.)
State the conclusion.
22000
200
21000
200
21000
200
19000
100
18000
150
18000
200
18000
150
17000
100
15000
100
12000
150
7000
50
5000
Wedding Cost
Attendance
Reject
H. There
is sufficient
evidence of a linear relationship between wedding cost and attendance.
Identify and interpret the 95% confidence interval estimate of the population slope.
The confidence interval is
Print
Done
With 95% confidence, it can be said that true expected mean increase in
per additional
the wedding is within the bounds of the confidence interval.
(Round to three decimal places as needed.)
Transcribed Image Text:Use the Regression tool on the accompanying wedding data, using the wedding cost as the dependent variable and attendance as the independent variable. Complete parts a through c. Click the icon to view the wedding data. OA. The Y-intercept indicates that a wedding with an attendance of 0 people has a mean predicted cost of $bo B. The Y-intercept indicates that a wedding with a cost of $0 has a mean predicted attendance of by people. OC. It is not appropriate to interpret the Y-intercept because it is outside the range of observed wedding costs. D. It is not appropriate to interpret the Y-intercept because it is outside the range of observed attendances. Identify and interpret the meaning of the coefficient of determination in this problem. Select the correct choice below and fill in the answer box to complete your choice. (Round to three decimal places as needed.) Wedding Attendance and Cost Wedding Cost Attendance 58700 300 54000 350 45000 150 OA. The coefficient of determination is R2= This value is the proportion of variation in attendance that is explained by the variation in wedding cost. 42000 200 34000 250 OB. The coefficient of determination is R2= This value is the probability that the correlation between the variables is statistically significant. 31500 150 31000 250 Ос The coefficient of determination is R2 This value is the probability that the slope of the regression line is statistically significant. 30000 300 28000 250 D. The coefficient of determination is R = 0.561. This value is the proportion of variation in wedding cost that is explained by the variation in attendance. 28000 200 27000 150 Interpret the values given in the test of the population slope. Use a 0.05 level of significance. State the null and alternative hypotheses the test. 26000 200 24000 200 0 Ho B H₁₁ (Type integers or decimals. Do not round.) Identify the test statistic. t-5.42 (Round to two decimal places as needed.) Identify the p-value. The p-value is 0.000 (Round to three decimal places as needed.) State the conclusion. 22000 200 21000 200 21000 200 19000 100 18000 150 18000 200 18000 150 17000 100 15000 100 12000 150 7000 50 5000 Wedding Cost Attendance Reject H. There is sufficient evidence of a linear relationship between wedding cost and attendance. Identify and interpret the 95% confidence interval estimate of the population slope. The confidence interval is Print Done With 95% confidence, it can be said that true expected mean increase in per additional the wedding is within the bounds of the confidence interval. (Round to three decimal places as needed.)
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