Which model appears to be the best accordingly?A. Model IB. Model IIC. Model IIID. Model IV Table 2: Several model fits with the data.ModelFormSSEAICBICy = Bo + B1r1 + 32r2 + B3r1r2 + ey = Bo+ B1r1 + 32r2 + ey = Bo+ B11 + ey = Bo + B1r2 +eI(1)(3)(5)3.314(2)II26.419(4)III106.371(6)IV134.928(8) Although a regional express delivery service bases the charge for shipping a(Cost of Shipment)package on the package weight and distance shipped, its profit per package depends on the packagesize (volume of space that it occupies) and the size and nature of the load on the delivery truck. Thecompany recently conducted a study to investigate the relationship between the cost, y, of shipment(in dollars) and the variables that control the shipping charge - package weight, r (in pounds), anddistance shipped, r2 (in miles). Ten packages were randomly selected from among the large numberreceived for shipment and a detailed analysis of the cost of shipment was made for each package,with the results shown in Table 1.Table 1: The Shipping Cost Data, together with some fitting results from a linear model.packageweight distance predicted leveragecostfour types of residualsCook's dIDh,t,d,2.65.90474.6542(2)(3)(4)(5)(6)-0.8834 -0.4547 -0.4825 -0.4544(7)3.93.20145(1) 0.11200.0108.0004.4002028.5090.149-0.509-0.262-0.284-0.2640.0054.9.2006.6001609.8280.203--0.628-0.323-0.362-0.3380.0114.4000.7502806.6340.613-2.234-1.150-1.848-2.3921.8046.1.5000.70080-0.9560.3472.4561.2641.5651.7970.43514.5006,50024012.7060.3211.7940.9241.1201.1450.1971.9004.500533.0350.272-1.135-0.584-0.685-0.6560.0581.0000.600100-0.3360.3211.3360.6880.8350.8140.1101014.0007.50019012.1420.3061.8580.9561.1481.1790.193It can be found that n = 10, y = 61, and y = 603.08.%3D

Given are a few Linear Models and their Error Sum of Squares.

Answered: Which model appears to be the best…

Math

Statistics

Which model appears to be the best accordingly? A. Model I B. Model II C. Model III D. Model IV

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter4: Linear Functions

Section: Chapter Questions

Problem 8PT: Does Table 1 represent a linear function? If so, finda linear equation that models the data.

See similar textbooks

Related questions

Q: If you have a study in which 50 participants are randomly assigned to one of the three groups, the…

A: Given k=3,b=50 We want to find dfwithin

Q: A table is made using the following two patterns. Pattern x Starting number 6 rule add 6. Pattern y…

A: Given, pattern x: Starting number 6 rule add 6 Pattern y: Starting number 1 rule add 1

Q: The data in the table represent the number of licensed drivers in various age groups and the number…

A: Given :

Q: ntify the t-value of the percentiles of the following by filling up the table Student t-value 1.…

A: Given that, A researcher conducts a diagnostic examination to 20 students. The following are the…

Q: The standard deviations of four data sets are shown in the table below. Which of the data sets is…

A: We have given The standard deviation of four data set And we want to find which one is most spread…

Q: Traffic department wants to know if automobile accident is a very serious problem in New York…

A: Hey, since there are multiple questions posted, we will answer first three questions. If you want…

Q: A student receives test scores of 62, 83, and 91. The student's final exam score is 88, and homework…

A: From the given information is A student has scored in tests 62,83,91 final exam and homework score…

Q: Giving à test to a group of students, the grades and gender are summarized below B. C Total Male 10…

A: Given data: The grades and gender of a group of students is given in the provided contingency table.…

Q: Determine which of the four levels of measurement (nominal, ordinal, interval, ratio) is most…

A: We know that- Nominal Data- Take more than 2 values but these values are not ordered –there is no…

Q: Use the following area diagram: Y N N N Y N Y Y Y Y If 120 students are surveyed concerning their…

A: Given: Area diagram

Q: Ghughu

A: Answer -The 95% confidence interval for two sided for the standard deviation is = 0.11 ≤ σ ≤…

Q: a. If each of 4 students scored 71 on a test, find each of the following for the scores. i. Mean ii.…

Q: A company wants to study the effects a new drug has on alleviating pain. Some patients at doctor’s…

A: The samples statistics is the parameters which we obtain only through the samples that we collect…

Q: Does Cable Video on Demand (VOD D4+) increase ad effectiveness? A recent VOD study compared general…

Q: A parking lot contains 10 vehicles. One is a new electric car that has only three wheels. The other…

A: The data of the wheels will be: 3, 4 , 4 ,4, 4 , 4 ,4, 4 , 4 ,4 It can be clearly seen that…

Q: To get the best deal on an appliance, Jeremy called six appliance stores and asked the cost of a…

A: From the question $119, $488, $227, $644, $344, $266

Q: A pie chart reflects student performance... 16% As, 24% Bs, 32% Cs, 16% Ds, 12% Fs A. There were…

A: The give percentages of student performance in pie chart is 16% A's, 24% B's, 32% C's, 16% D's, and…

Q: The national housing authority (NHA) wants to investigate the relationship between the size of…

A: From the above data size of Hours is independent variable X Monthly rent is dependent variable Y…

Q: While traveling through South America, a student decides to analyze which country is the…

A: The objective is to choose which test is appropriate for given data

Q: College students and surfers Rex Robinson and Sandy Hudson collected data on the self-reported…

A: b.) We need to compute the standard deviation for the given data.

Q: I need help with the questions 2a,2b and 2c. Describe the shape of the distribution of the data.…

A: (a) Histogram of genre=action/adventure The shape of the distribution is positively skewed because…

Q: A. Refer to the data and solve for the required measures of position. The following are the grades…

A: First, arrange the data in ascending order. X 65 68 70 71 73 75 75 76 78 78…

Q: State H0 and what is H1 for all of them a, b and c a) The marketing researcher would like to find…

A: We have to define H0 and H1 for the given problems.

Q: Q.2) A manager at the delivery company recorded the mean and median delivery cost, but unfortunately…

A: Dear students as per guidelines we answer the first question only when multiple unrelated questions…

Q: Instrument No Instrument TOTAL Вoys 40 68 108 Girls 46 84 ТОTAL 86 106 192 Of the students surveyed,…

Q: Part c and d? It says it’s wrong.

A: As you are asking to solve only part (C) and (D) below is the explanation for the same : The states…

Concept explainers

Correlation

Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

Linear Correlation

A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.

Regression Analysis

Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.

Question

Which model appears to be the best accordingly?

A. Model I

B. Model II

C. Model III

D. Model IV

Table 2: Several model fits with the data.
Model
Form
SSE
AIC
BIC
y = Bo + B1r1 + 32r2 + B3r1r2 + e
y = Bo+ B1r1 + 32r2 + e
y = Bo+ B11 + e
y = Bo + B1r2 +e
I
(1)
(3)
(5)
3.314
(2)
II
26.419
(4)
III
106.371
(6)
IV
134.928
(8)

Although a regional express delivery service bases the charge for shipping a
(Cost of Shipment)
package on the package weight and distance shipped, its profit per package depends on the package
size (volume of space that it occupies) and the size and nature of the load on the delivery truck. The
company recently conducted a study to investigate the relationship between the cost, y, of shipment
(in dollars) and the variables that control the shipping charge - package weight, r (in pounds), and
distance shipped, r2 (in miles). Ten packages were randomly selected from among the large number
received for shipment and a detailed analysis of the cost of shipment was made for each package,
with the results shown in Table 1.
Table 1: The Shipping Cost Data, together with some fitting results from a linear model.
package
weight distance predicted leverage
cost
four types of residuals
Cook's d
ID
h,
t,
d,
2.6
5.90
47
4.6542
(2)
(3)
(4)
(5)
(6)
-0.8834 -0.4547 -0.4825 -0.4544
(7)
3.9
3.20
145
(1) 0.1120
0.010
8.000
4.400
202
8.509
0.149
-0.509
-0.262
-0.284
-0.264
0.005
4.
9.200
6.600
160
9.828
0.203
--0.628
-0.323
-0.362
-0.338
0.011
4.400
0.750
280
6.634
0.613
-2.234
-1.150
-1.848
-2.392
1.804
6.
1.500
0.700
80
-0.956
0.347
2.456
1.264
1.565
1.797
0.435
14.500
6,500
240
12.706
0.321
1.794
0.924
1.120
1.145
0.197
1.900
4.500
53
3.035
0.272
-1.135
-0.584
-0.685
-0.656
0.058
1.000
0.600
100
-0.336
0.321
1.336
0.688
0.835
0.814
0.110
10
14.000
7.500
190
12.142
0.306
1.858
0.956
1.148
1.179
0.193
It can be found that n = 10, y = 61, and y = 603.08.
%3D

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Correlation, Regression, and Association$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions

If you are performing a break-even analysis for a business and their cost and revenue equations are dependent, explain what this means for the company's profit margins.
If you graph a revenue and cost function, explain how to determine in what regions there is profit.
The table so the left side of data is cubic feet moved and right side is labor hours
A company provides maintenance service for water-filtration systems throughout southern Florida. Customers contact the company with requests for maintenance service on their water-filtration systems. To estimate the service time and the service cost, the company's managers want to predict the repair time necessary for each maintenance request. Hence, repair time in hours is the dependent variable. Repair time is believed to be related to three factors, the number of months since the last maintenance service, the type of repair problem (mechanical or electrical), and the repairperson who performed the service. Data for a sample of 10 service calls are reported in the table below. Repair Timein Hours Months SinceLast Service Type of Repair Repairperson 2.9 2 Electrical Dave Newton 3.0 6 Mechanical Dave Newton 4.8 8 Electrical Bob Jones 1.8 3 Mechanical Dave Newton 2.5 2 Electrical Dave Newton 4.9 7 Electrical Bob Jones 4.6 9 Mechanical Bob Jones 4.8 8 Mechanical Bob…
A company provides maintenance service for water-filtration systems throughout southern Florida. Customers contact the company with requests for maintenance service on their water-filtration systems. To estimate the service time and the service cost, the company's managers want to predict the repair time necessary for each maintenance request. Hence, repair time in hours is the dependent variable. Repair time is believed to be related to three factors, the number of months since the last maintenance service, the type of repair problem (mechanical or electrical), and the repairperson who performed the service. Data for a sample of 10 service calls are reported in the table below. Repair Time Months Since in Hours Last Service 2.9 3.0 4.8 1.8 2.5 4.9 4.2 4.8 4.4 4.5 2 6 8 3 2 7 9 8 4 6 Type of Repair Repairperson Electrical Mechanical Electrical Mechanical Electrical Electrical Mechanical Mechanical Electrical Electrical Dave Newton ŷ = X Check which variable(s)/term(s) should be in your…
Cellulon, a manufacturer of home insulation, wants to develop guidelines for builders and consumers on how the thickness of the insulation in the attic of a home and the outdoor temperature affect natural gas consumption. In the laboratory, it varied the insulation thickness and temperature. A few of the findings are: Monthly Natural Gas Consumption (cubic feet), Thickness of Insulation (inches), Outdoor Temperature (ºF), y x1 x2 30.3 6.0 40.0 24.2 12 40 27.9 8 49 On the basis of the sample results, the regression equation is: yˆy⁢^⁢ = 56.26 − 0.66x1 − 0.59x2 How much natural gas can homeowners expect to use per month if they install 6 inches of insulation and the outdoor temperature is 40 degrees F? (Round your answer to 2 decimal places.) What effect would installing 7 inches of insulation instead of 6 have on the monthly natural gas consumption (assuming the outdoor temperature remains at 40 degrees F)? (Round your answers…
Cellulon, a manufacturer of home insulation, wants to develop guidelines for builders and consumers on how the thickness of the insulation in the attic of a home and the outdoor temperature affect natural gas consumption. In the laboratory, it varied the insulation thickness and temperature. A few of the findings are: Monthly Natural Gas Consumption (cubic feet), Thickness of Insulation (inches), Outdoor Temperature (ºF), y x1 x2 30.3 6.0 32.0 25.2 12 40 30.5 8 49 On the basis of the sample results, the regression equation is: yˆ y⁢^⁢ = 57.25 − 1.07x1 − 0.64x2
In a study of housing demand, the county assessor develops the following regression model to estimate the market value (i.e., selling price) of residential property within his jurisdiction. The assessor suspects that important variables affecting selling price (YY, measured in thousands of dollars) are the size of a house (X1X1, measured in hundreds of square feet), the total number of rooms (X2X2), age (X3X3), and whether or not the house has an attached garage (X4X4, No=0, Yes=1No=0, Yes=1). Y=α+β1X1+β2X2+β3X3+β4X4+εY=α+β1X1+β2X2+β3X3+β4X4+ε Now suppose that the estimate of the model produces following results: a=166.048a=166.048, b1=3.459b1=3.459, b2=8.015b2=8.015, b3=−0.319b3=−0.319, b4=1.186b4=1.186, sb1=1.079sb1=1.079, sb2=5.288sb2=5.288, sb3=0.789sb3=0.789, sb4=12.252sb4=12.252, R2=0.838R2=0.838, F-statistic=12.919F-statistic=12.919, and se=13.702se=13.702. Note that the sample consists of 15 randomly selected observations. According to the estimated model, holding all…
Although natural gas is currently inexpensive and nuclear power currently (and perhaps deservedly) does not have a good reputation, it is possible that more nuclear power plants will be constructed in the future. Table 4 presents data concerning the construction costs of light water reactor (LWR) nuclear power plants. The dependent variable, C, construction cost, is expressed in millions of dollars, adjusted to a 1976 base. Preliminary analysis of the data and economic theory indicate that variation in cost increases as cost increases. This suggests transforming cost by taking its natural logarithm. S Power plant capacity in MWe N Cumulative number of power plants built by the contractor Build a multiple regression model to predict ln(C) by taking S and N or their natural logarithms as the independent variables. Make sure to check for multicollinearity. Use residual analysis and R2 to check your model. State which variables are important in predicting the cost of constructing an…
The owener of a winery collects data on competing wineries every year. He would like to predict the gross sales (in number of cases) from the size of the wineries (in acres). What is the explanatory variable in this study?
A highway department is studying the relationship between traffic flow and speed. The following model has been hypothesized. ŷ = b0+b1x+b2x^2 where: y = traffic flow in vehicles per hourx = vehicle speed in miles per hour The following data were collected during rush hour for six highways leading out of the city. Traffic Flow (y) Vehicle Speed (x) 1256 35 1329 40 1227 30 1336 50 1350 55 1125 25 a. Use the data to compute the coefficients of this estimated regression equation (to 4 decimals). Enter negative value as negative number. (Create the x^2 variable first using Data/Transform Data/Square.) b0 = ? b1 = ? b2 = ? b. Using alpha = 0.01, test for a significant relationship. F = ? (to 4 decimals) P-value = ? (to 4 decimals) c. Estimate the traffic flow in vehicles per hour at a speed of 39 miles per hour (to 2 decimals). vehicles per hour
An important application of regression analysis in accounting is in the estimation of cost. By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. In the Microsoft Excel Online file below you will find a sample of production volumes and total cost data for a manufacturing operation. Conduct a regression analysis to explore the relationship between total cost and production volume and then answer the questions that follow. Compute b1 and b0 (to 1 decimal). b1 b0 Complete the estimated regression equation (to 1 decimal). = + x According to this model, what is the change in cost (in dollars) for every unit produced (to 1 decimal)? Compute the coefficient of determination (to 3 decimals). Note: report r2 between 0 and 1. r2 = What percentage of the variation in total cost can be explained by the…