BASIC PRAC OF STATISTICS+LAUNCHPAD+REE
8th Edition
ISBN: 9781319123680
Author: Moore
Publisher: MAC HIGHER
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Question
Chapter 1, Problem 1.29E
a.
To determine
To construct: The bar chart with adjacent bars for hours using social apps and hours using entertainment apps.
b.
To determine
To describe: The main difference between social media app usage and entertainment app usage with respect to the age group.
c.
To determine
To explain: Why it would be inappropriate to construct a pie chart.
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Students have asked these similar questions
2. The owner of several used-car dealerships believes that the
selling price of a used car can best be predicted using the car's
age. He uses data on the recent selling price (in $) and age of
20 used sedans to estimate Price = Po + B₁Age + ε. A portion
of the regression results is shown in the accompanying table.
Standard
Coefficients
Intercept
21187.94
Error
733.42
t Stat p-value
28.89 1.56E-16
Age
-1208.25
128.95 -9.37
2.41E-08
a. What is the estimate for B₁? Interpret this value.
b. What is the sample regression equation?
C. Predict the selling price of a 5-year-old sedan.
ian income of $50,000.
erty rate of
13. Using data from 50 workers, a researcher estimates Wage =
Bo+B,Education + B₂Experience + B3Age+e, where Wage
is the hourly wage rate and Education, Experience, and Age
are the years of higher education, the years of experience, and
the age of the worker, respectively. A portion of the regression
results is shown in the following table. ni ogolloo bash
1
Standard
Coefficients error
t stat p-value
Intercept
7.87
4.09
1.93
0.0603
Education
1.44
0.34
4.24 0.0001
Experience
0.45
0.14
3.16
0.0028
Age
-0.01
0.08 -0.14 0.8920
a. Interpret the estimated coefficients for Education and
Experience.
b. Predict the hourly wage rate for a 30-year-old worker
with four years of higher education and three years of
experience.
1. If a firm spends more on advertising, is it likely to increase
sales? Data on annual sales (in $100,000s) and advertising
expenditures (in $10,000s) were collected for 20 firms in order
to estimate the model Sales = Po + B₁Advertising + ε. A portion
of the regression results is shown in the accompanying table.
Intercept
Advertising
Standard
Coefficients
Error
t Stat
p-value
-7.42
1.46
-5.09
7.66E-05
0.42
0.05
8.70
7.26E-08
a. Interpret the estimated slope coefficient.
b. What is the sample regression equation?
C.
Predict the sales for a firm that spends $500,000
annually on advertising.
Chapter 1 Solutions
BASIC PRAC OF STATISTICS+LAUNCHPAD+REE
Ch. 1.1 - Prob. 1AYKCh. 1.1 - Prob. 2AYKCh. 1.2 - Prob. 3AYKCh. 1.2 - Prob. 4AYKCh. 1.2 - Prob. 5AYKCh. 1.3 - Prob. 6AYKCh. 1.3 - Prob. 7AYKCh. 1.4 - Prob. 8AYKCh. 1.4 - Prob. 9AYKCh. 1.5 - Prob. 10AYK
Ch. 1.5 - Prob. 11AYKCh. 1.6 - Prob. 12AYKCh. 1 - Prob. 1.13CYSCh. 1 - Prob. 1.14CYSCh. 1 - Prob. 1.15CYSCh. 1 - Prob. 1.16CYSCh. 1 - Prob. 1.17CYSCh. 1 - Prob. 1.18CYSCh. 1 - Prob. 1.19CYSCh. 1 - Prob. 1.20CYSCh. 1 - Prob. 1.21CYSCh. 1 - Prob. 1.22CYSCh. 1 - Prob. 1.23ECh. 1 - Prob. 1.24ECh. 1 - Prob. 1.25ECh. 1 - Prob. 1.26ECh. 1 - Prob. 1.27ECh. 1 - Prob. 1.29ECh. 1 - Prob. 1.30ECh. 1 - Prob. 1.31ECh. 1 - Prob. 1.32ECh. 1 - Prob. 1.33ECh. 1 - Prob. 1.34ECh. 1 - Prob. 1.35ECh. 1 - Prob. 1.37ECh. 1 - Prob. 1.38ECh. 1 - Prob. 1.39ECh. 1 - Prob. 1.40ECh. 1 - Prob. 1.41ECh. 1 - Prob. 1.42ECh. 1 - Prob. 1.43ECh. 1 - Prob. 1.44ECh. 1 - Prob. 1.46E
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