Applied Statistics in Business and Economics

5th Edition

ISBN: 9780077837303

Author: David Doane, Lori Seward Senior Instructor of Operations Management

Publisher: McGraw-Hill Education

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Equations and Inequations

Equations and inequalities describe the relationship between two mathematical expressions.

Linear Functions

A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.

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Textbook Question

Chapter 12.4, Problem 18SE

Instructions for exercises 12.18 and 12.19: (a) Make an Excel worksheet to calculate SS_xx, SS_yy, and SS_xy (the same worksheet you used in exercises 12.2 and 12.3). (b) Use the formulas to calculate the slope and intercept. (c) Use your estimated slope and intercept to make a worksheet to calculate SSE, SSR, and SST. (d) Use these sums to calculate the R². (e) To check your answers, make an Excel scatter plot of X and Y, select the data points, right-click, select Add Trendline, select the Options tab, and choose Display equation on chart and Display R-squared value on chart.

12.18

Chapter 12.4, Problem 18SE, Instructions for exercises 12.18 and 12.19: (a) Make an Excel worksheet to calculate SSxx, SSyy, and

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Chapter 12.3, Problem 17SE

Chapter 12.4, Problem 19SE

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A company found that the daily sales revenue of its flagship product follows a normal distribution with a mean of $4500 and a standard deviation of $450. The company defines a "high-sales day" that is, any day with sales exceeding $4800. please provide a step by step on how to get the answers in excel Q: What percentage of days can the company expect to have "high-sales days" or sales greater than $4800? Q: What is the sales revenue threshold for the bottom 10% of days? (please note that 10% refers to the probability/area under bell curve towards the lower tail of bell curve) Provide answers in the yellow cells

Chapter 12 Solutions

Applied Statistics in Business and Economics

Ch. 12.1 - Prob. 1SE Ch. 12.1 - Prob. 2SE Ch. 12.1 - Prob. 3SE Ch. 12.1 - Prob. 4SE Ch. 12.1 - Prob. 5SE Ch. 12.1 - Prob. 6SE Ch. 12.2 - (a) Interpret the slope of the fitted regression...Ch. 12.2 - (a) Interpret the slope of the fitted regression...Ch. 12.2 - Prob. 9SE Ch. 12.2 - (a) Interpret the slope of the fitted regression...

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Solution Summary: The author explains how to calculate the sum of squares in Excel.

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