Pearson eText Business Statistics: First Course -- Instant Access (Pearson+)
8th Edition
ISBN: 9780136880974
Author: David Levine, David Stephan
Publisher: PEARSON+
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Students have asked these similar questions
1. Develop a simple linear regression equation for starting salaries using an independent
variable that has the closest relationship with the salaries. Explain how you chose this
variable.
For nine months, Joan observes the average daily gas consumption for her house and the corresponding average temperature that month. She gets the following scatterplot (with regression line equation presented and drawn in):
Interpreting the regression line (formula above the graph), in general, about how much is gas consumption reduced for each degree increase in average temperature in any given month? AC 43, 20, 83, 800, 1438 ["", "", "", ""]
Over the nine months Joan took measurements, approximately what was the range of gas consumptions? AC 20,80,38,1438 ["", "", "", ""]
For a month in which the average temperature is 40, predict the daily amount of gas consumed for that month. AC 309, 630,425,800 ["", "", "", ""]
After collecting the data, Joan had insulation installed in her home. The next month, the average temperature was 30 and her home (with insulation) consumed…
The following equation is the result of performing a multiple regression analysis:
Job performance = 10 + (5*job knowledge) + (0.7* conscientiousness), where job
knowledge is measured on a scale of 0-5 and conscientiousness is measured on a
scale of 0 to 100. Which of the following conclusions is correct?
!!
O If a person scored 5 on job knowledge and 100 on conscientiousness he or she
would have the maximum predictive score possible
If a person scored 0 on both job knowledge and conscientiousness, his or her
predictive score is 0
ONeither job knowledge nor conscientiousness predicts performance
O Conscientiousness is less important than job knowledge.
Question 3!
For a measuring tool to be usefulitmus be
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- Life 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_forwardDemand for Candy Bars In this problem you will determine a linear demand equation that describes the demand for candy bars in your class. Survey your classmates to determine what price they would be willing to pay for a candy bar. Your survey form might look like the sample to the left. a Make a table of the number of respondents who answered yes at each price level. b Make a scatter plot of your data. c Find and graph the regression line y=mp+b, which gives the number of respondents y who would buy a candy bar if the price were p cents. This is the demand equation. Why is the slope m negative? d What is the p-intercept of the demand equation? What does this intercept tell you about pricing candy bars? Would you buy a candy bar from the vending machine in the hallway if the price is as indicated. Price Yes or No 50 75 1.00 1.25 1.50 1.75 2.00arrow_forwardXYZ 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_forward
- Thoughts Into Words Suppose that Bianca walks at a constant rate of 3 miles per hour. Explain what it means that the distance Bianca walks is a linear function of the time that she walks.arrow_forwardSuppose that a simple linear regression model is appropriate for describing the relationship between y = house price (in dollars) and x = house size (in square feet) for houses in a large city. The population regression line is y = 22,500 + 43x and ?e = 4,000. b) Approximately what proportion of 2,000 sq ft homes would be priced over $110,000? (You may need to use a table. Round your answer to four decimal places.) Approximately what proportion of 2,000 sq ft homes would be priced under $100,000? (You may need to use a table. Round your answer to four decimal places.)arrow_forwardPlease help with 1.2 and 1.3 only.arrow_forward
- (4) Does how wide a possum's belly is (in cm) tell you how long a possum's tail is (in cm)? That's what re- searchers in Australia wanted to know. They built a simple linear regression model treating X as the possum's belly girth and Y as the possum's tail length. Below and at the top of the next page are all the results you will need to answer the ensuing questions, including: ● The straight line of best fit: ŷ = 30.2 + .21x • The correlation between the observed y and predicted ŷ: ry,ŷ .294 • At the top of the next page are three residual plots: (a) the plot of belly girth vs. the residuals, (b) the plot of the residuals in order of collection, (c) the histogram of the residuals = These are real data (source) consisting of measurements on each of 104 mountain brushtail possums, trapped at seven sites from Southern Victoria to central Queensland, Australia.arrow_forwardImagine Daenerys Targaryen as a researcher concerned with the dragon species. The people of Westeros believed that dragons were decreasing in size due to captivity. Dragon size was normally measured as wingspan (meters) and captivity was normally measured in years. Daenerys used archival data and determined that the relationship between these two variables could be explained using the following regression equation: y-predicted = 453 - 2.5xInterpret this equation (i.e. What is its purpose? What is the intercept? What is the slope? What does it mean for dragons in Westeros?).arrow_forwardThe following regression model has been computed based on a sample of 70 observations of part-time workers. The regression equation that relates the number of hours worked (x) and the individual weekly income (y in 100 AED) is ŷ equals 35.4 plus 5.2 x What does the intercept mean in this context? Part-time workers who did not work at all are expected to earn a weekly income of 3540 AED. The intercept has no meaning. For every additional hour of work, the weekly income is expected to increase by 520 AED. Part-time workers who did not work at all are expected to earn a weekly income of 35.4 AED.arrow_forward
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