Concept explainers
Estimating repair and replacement costs of water pipes. Refer to the IHS Journal of Hydraulic Engineering (September 2012) study of water pipes susceptible to breakage, Exercises 11.21 (p. 630) and 11.37 (p. 638). Recall that civil engineers used simple linear regression to model the ratio of repair to replacement cost of commercial pipe (y) as a
Minitab Output for Exercise 11.53
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Statistics for Business and Economics (13th Edition)
- What is regression analysis? Describe the process of performing regression analysis on a graphing utility.arrow_forwardFind the equation of the regression line for the following data set. x 1 2 3 y 0 3 4arrow_forwardLife Expectancy The following table shows the average life expectancy, in years, of a child born in the given year42 Life expectancy 2005 77.6 2007 78.1 2009 78.5 2011 78.7 2013 78.8 a. Find the equation of the regression line, and explain the meaning of its slope. b. Plot the data points and the regression line. c. Explain in practical terms the meaning of the slope of the regression line. d. Based on the trend of the regression line, what do you predict as the life expectancy of a child born in 2019? e. Based on the trend of the regression line, what do you predict as the life expectancy of a child born in 1580?2300arrow_forward
- What does the y -intercept on the graph of a logistic equation correspond to for a population modeled by that equation?arrow_forwardOlympic Pole Vault The graph in Figure 7 indicates that in recent years the winning Olympic men’s pole vault height has fallen below the value predicted by the regression line in Example 2. This might have occurred because when the pole vault was a new event there was much room for improvement in vaulters’ performances, whereas now even the best training can produce only incremental advances. Let’s see whether concentrating on more recent results gives a better predictor of future records. (a) Use the data in Table 2 (page 176) to complete the table of winning pole vault heights shown in the margin. (Note that we are using x=0 to correspond to the year 1972, where this restricted data set begins.) (b) Find the regression line for the data in part ‚(a). (c) Plot the data and the regression line on the same axes. Does the regression line seem to provide a good model for the data? (d) What does the regression line predict as the winning pole vault height for the 2012 Olympics? Compare this predicted value to the actual 2012 winning height of 5.97 m, as described on page 177. Has this new regression line provided a better prediction than the line in Example 2?arrow_forwardCan the average rate of change of a function be constant?arrow_forward
- XYZ Corporation Stock Prices The following table shows the average stock price, in dollars, of XYZ Corporation in the given month. Month Stock price January 2011 43.71 February 2011 44.22 March 2011 44.44 April 2011 45.17 May 2011 45.97 a. Find the equation of the regression line. Round the regression coefficients to three decimal places. b. Plot the data points and the regression line. c. Explain in practical terms the meaning of the slope of the regression line. d. Based on the trend of the regression line, what do you predict the stock price to be in January 2012? January 2013?arrow_forwardTable 6 shows the population, in thousands, of harbor seals in the Wadden Sea over the years 1997 to 2012. a. Let x represent time in years starting with x=0 for the year 1997. Let y represent the number of seals in thousands. Use logistic regression to fit a model to these data. b. Use the model to predict the seal population for the year 2020. c. To the nearest whole number, what is the limiting value of this model?arrow_forwardA microcomputer manufacturer has developed a regression model relating his sales (y=$10,000s) with three independent variables. The three independent variables are price per unit(Price in $100s), advertising( ADV in $1000s) and the number of product lines (Lines). Part of the regression results is shown below. Coefficient Standard Error Intercept 1.0211 22.8752 Price(X1) -0.1524 0.1411 ADV (X2) 0.8849 0.2886 Lines(X3) -0.1463 1.5340 Source d.f. S.S. Regression 3 2708.61 Error 14 2840.51 Total 17 5549.12 What has been the sample size (n) for this analysis? Use the above results to find the estimated multiple…arrow_forward
- Researchers are interested in predicting the height of a child based on the heights of their mother and father. Data were collected, which included height of the child (height ), height of the mother ( mothersheight), and height of the father (fathersheight ). The initial analysis used the heights of the parents to predict the height of the child (all units are inches). The results of the analysis, a multiple regression, are presented below. . regress height mothersheight fathersheight Source Model Residual Total height mothersheight fathersheight _cons SS df 208.008457 314.295372 37 2 104.004228 8.49446952 MS 522.303829 39 13.3924059 Coef. Std. Err. .6579529 .1474763 .2003584 .1382237 9.804327 12.39987 t P>|t| 4.46 0.000 C 0.156 0.79 0.434 Number of obs = F( 2, 37) = Prob > F R-squared Adj R-squared Root MSE = .3591375 -.0797093 -15.32021 = 40 12.24 0.0001 0.3983 0.3657 2.9145 [95% Conf. Interval] .9567683 .4804261 34.92886 What is the predicted height for a child born to a mother…arrow_forwardA realty company would like to develop a regression model to help it set weekly rentai rates for beach properties (y). The independent variables for this model are the number of bedrooms a property has (x). its age (x2), and the number of biocks away from the ocean it is (x). Use the accompanying data to complete parts a through e below. E Click the icon to view the rental property data. a) Using technology, construct a regression model using all three independent variables. -(8992 6) (295.6)x + (41.7) x2 + (-3146.3) x (Round to one decimal place as needed.) b) Test the significance of each independent variable using a= 0.05. Test the significance of x. Identify the null and alternative hypotheses. Ho: , = 0 H: B, 0 (Type integers or decimals.) Calculate the appropriate test statistic. The test statistic is 1.24 (Round to two decimal places as needed.) Determine the appropriate critical value(s) for a0.05. The critical value(s) is(are) (Round to two decimal places as needed. Use a…arrow_forwardResearchers are interested in predicting the height of a child based on the heights of their mother and father. Data were collected, which included height of the child (height ), height of the mother ( mothersheight), and height of the father (fathersheight ). The initial analysis used the heights of the parents to predict the height of the child (all units are inches). The results of the analysis, a multiple regression, are presented below. . regress height mothersheight fathersheight Source Model Residual Total height mothersheight fathersheight _cons SS 208.008457 314.295372 522.303829 df 104.004228 2 37 8.49446952 MS 39 13.3924059 Coef. Std. Err. .6579529 .1474763 .2003584 .1382237 9.804327 12.39987 Interpret the slope associated with mother's height. t P>|t| 4.46 0.000 с 0.156 0.79 0.434 Number of obs = F( 2, 37) = Prob > F R-squared Adj R-squared = Root MSE = = .3591375 -.0797093 -15.32021 = 40 12.24 0.0001 0.3983 0.3657 2.9145 [95% Conf. Intervall 9567683 .4804261 34.92886arrow_forward
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