Statistics for Business and Economics (13th Edition)
13th Edition
ISBN: 9780134506593
Author: James T. McClave, P. George Benson, Terry Sincich
Publisher: PEARSON
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Chapter 11.6, Problem 11.95ACI
Predicting quit rates In manufacturing The reasons given by workers for quitting their jobs generally tall into one of two categories: (1) worker quits to seek or take a different job. or (2) worker quits to withdraw from the labor force Economic theory suggests that wages and quit rates are related The next table lists quit rates (quits per 100 employees) and the average hourly wage in a sample of 15 manufacturing industries. Consider the simple linear regression of quit rate yon average wage x.
- a. Do the data present sufficient evidence to conclude that average hourly wage rate contributes useful information for the prediction of quit rates’ What does your model suggest about the relationship between quit rates and wages?
- b. Find a 95% prediction interval for the quit rate in an industry with an average hourly wage of $9.00. Interpret the result.
- c. Find a 95% confidence interval for the mean quit rate for industries with an average hourly wage of $9.00. Interpret this result.
| Industry | Quit Rate, y | Average Wage, x |
| 1 | 1.4 | S 8 20 |
| 2 | .7 | 10 35 |
| 3 | 2.6 | 6 18 |
| 4 | 3.4 | 5.37 |
| 5 | 1.7 | 994 |
| 6 | 1.7 | 9.11 |
| 7 | 1.0 | 1059 |
| 8 | .5 | 13.29 |
| 9 | 2.0 | 7.99 |
| 10 | 3.8 | 5.54 |
| 11 | 2.3 | 7.50 |
| 12 | 1.9 | 643 |
| 13 | 1.4 | 8.83 |
| 14 | 1.8 | 10.93 |
| 15 | 2.0 | 8.80 |
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The following result perspective in RapidMiner shows a multiple linear regression model.
Based on the diagram, the model for our dependent variable Y is Predicted Y=
(Insulation *0.420)+(Temperature *0.071)+(Avg_Age*0.065)+(Home_Size *0.311)+7.589
Attribute
Insulation
Temperature
Avg Age
Home Size
(Intercept)
O True
O False
Coefficient
3.323
-0.869
1.968
3.173
134.511
Std. Error
0.420
0.071
0.065
0.311
7.589
Std. Coefficient
0.164
-0.262
0.527
0.131
?
Tolerance
0.431
0.405
0.491
0.914
?
t-Stat
7.906
-12.222
30.217
10.210
17.725
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Chapter 11 Solutions
Statistics for Business and Economics (13th Edition)
Ch. 11.1 - In each case, graph the line that passes through...Ch. 11.1 - Give the slope and y-intercept for each of the...Ch. 11.1 - The equation for a straight line (deterministic...Ch. 11.1 - Refer to Exercise 11.3. Find the equations of the...Ch. 11.1 - Plot the following lines: a. y 4 + x b. y = 5 2x...Ch. 11.1 - Give the slope and y-intercept for each of the...Ch. 11.1 - Prob. 11.7LMCh. 11.1 - Prob. 11.8LMCh. 11.1 - If a straight-line probabilistic relationship...Ch. 11.1 - Congress voting on women's issues. The American...
Ch. 11.1 - Best-paid CEOs. Refer to Glassdoor Economic...Ch. 11.1 - Estimating repair and replacement costs of water...Ch. 11.1 - Forecasting movie revenues with Twitter. A study...Ch. 11.2 - The following table is similar to Table 11.2.It is...Ch. 11.2 - Refer to Exercise 11.14. After the least squares...Ch. 11.2 - Construct a scatterplot for the data in the...Ch. 11.2 - Consider the following pairs of measurements: a....Ch. 11.2 - Use the applet Regression by Eye to explore the...Ch. 11.2 - In business, do nice guys finish first or last?...Ch. 11.2 - State Math SAT scores. Refer to the data on...Ch. 11.2 - Lobster fishing study. Refer to the Bulletin of...Ch. 11.2 - Repair and replacement costs of water pipes. Refer...Ch. 11.2 - Joint Strike Fighter program. The Joint Strike...Ch. 11.2 - Software millionaires and birthdays. In Outliers:...Ch. 11.2 - Prob. 11.24ACICh. 11.2 - Ranking driving performance of professional...Ch. 11.2 - Sweetness of orange juice. 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To Improve the...Ch. 11.4 - Construct both a 95% and a 90% confidence interval...Ch. 11.4 - Consider the following pairs of observations: a....Ch. 11.4 - Refer to Exercise 11.46. Construct an 80% and a...Ch. 11.4 - Do the accompanying data provide sufficient...Ch. 11.4 - State Math SAT Scores. Refer to the SPSS simple...Ch. 11.4 - Lobster fishing study. Refer to the Bulletin of...Ch. 11.4 - Prob. 11.51ACBCh. 11.4 - Prob. 11.52ACBCh. 11.4 - Estimating repair and replacement costs of water...Ch. 11.4 - Prob. 11.54ACBCh. 11.4 - Prob. 11.55ACICh. 11.4 - Beauty and electoral success. Are good looks an...Ch. 11.4 - Prob. 11.57ACICh. 11.4 - Prob. 11.58ACICh. 11.4 - Prob. 11.59ACICh. 11.4 - Prob. 11.60ACICh. 11.4 - Rankings of research universities. Refer to the...Ch. 11.4 - Prob. 11.62ACACh. 11.4 - Does elevation impact hitting performance in...Ch. 11.5 - Explain what each of the following sample...Ch. 11.5 - Describe the slope of the least squares line if a....Ch. 11.5 - Construct a scatterplot for each data set. Then...Ch. 11.5 - Calculate r2 for the least squares line in each of...Ch. 11.5 - Use the applet Correlation by Eye to explore the...Ch. 11.5 - In business, do nice guys finish first or last?...Ch. 11.5 - Going for it on fourth-down in the NFL Each week...Ch. 11.5 - Lobster fishing study. Refer to the Bulletin of...Ch. 11.5 - RateMyProfessors.com. A popular Web site among...Ch. 11.5 - Last name and acquisition timing. Refer to the...Ch. 11.5 - Women in top management. An empirical analysis of...Ch. 11.5 - Prob. 11.74ACICh. 11.5 - Prob. 11.75ACICh. 11.5 - Prob. 11.76ACICh. 11.5 - Prob. 11.77ACICh. 11.5 - Prob. 11.78ACICh. 11.5 - Evaluation of an imputation method for missing...Ch. 11.5 - Prob. 11.80ACICh. 11.5 - Prob. 11.81ACACh. 11.6 - Consider the followings of measurements: a...Ch. 11.6 - Consider the pairs of measurements shown in the...Ch. 11.6 - In fitting a least squares line to n = 10 data...Ch. 11.6 - Prob. 11.86ACBCh. 11.6 - Prob. 11.87ACBCh. 11.6 - Prob. 11.88ACBCh. 11.6 - Prob. 11.89ACBCh. 11.6 - Prob. 11.90ACBCh. 11.6 - Prob. 11.91ACICh. 11.6 - Ranking driving performance of professional...Ch. 11.6 - Spreading rate of spilled liquid Refer to the...Ch. 11.6 - Removing nitrogen from toxic wastewater. Highly...Ch. 11.6 - Predicting quit rates In manufacturing The reasons...Ch. 11.6 - Life tests of cutting tools Refer to the data...Ch. 11.7 - Prices of recycled materials. Prices of recycled...Ch. 11.7 - Thickness of dust on solar cells. 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