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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Textbook Question

Chapter 12.7, Problem 12.81ACA

Banning controversial sports team sponsors. Refer to the Journal of Marketing Research (October. 2015) study of the impact of banning a controversial sponsor on a sports team’s success, Exercise 9.34 (p. 522). Recall that markets for English soccer clubs were classified as one of four types: (1) banned alcohol sponsors but now have other sponsors, (2) banned alcohol sponsors and now have no other sponsors. (3) did not ban alcohol sponsors but now have other sponsors, and (4) did not ban alcohol sponsors and now have no other sponsors. To assess the impact of an alcohol ban in a market, the researchers computed the matching value loss (MVL) for each market and treated this as the dependent variable in the analysis. The data (simulated from information provided in the study) are saved in the file. Consider a model for mean MVL as a function of the qualitative independent variable, market type.

a. Give the equation of the model for E(MVL). Use market type “no ban/no other” as the base level for the qualitative independent variable.
b. Fit the model, part a, to the data. Give the least squares prediction equation.
c. Provide a practical interpretation of each of the estimated β’s in the model.
d. Conduct the global F-test for the model using α = .05. What inference can you make about the mean MVL values for the four markets?
e. The sample mean MVL values for the four markets were 8.52, 8.55, 6.63, and 6.38, respectively. Show how to find these sample means using only the p estimates obtained in part b.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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Chapter 12.7, Problem 12.80ACA

Chapter 12.8, Problem 12.82LM

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Chapter 12 Solutions

Statistics for Business and Economics (13th Edition)

Ch. 12.3 - Write a first-order model relating E(y) to a. two...Ch. 12.3 - Minitab was used to fit the model E(y) = (0 + 1x1...Ch. 12.3 - Suppose you fit the multiple regression model y =0...Ch. 12.3 - Suppose you fit the first-order multiple...Ch. 12.3 - Prob. 12.5LM Ch. 12.3 - Prob. 12.6LM Ch. 12.3 - Prob. 12.7LM Ch. 12.3 - If the analysis of variance F-test leads to the...Ch. 12.3 - Ambiance of 5-star hotels. Although invisible and...Ch. 12.3 - Forecasting movie revenues with Twitter. Refer to...

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Solution Summary: The author explains that a model for mean for MVL with the type "no ban" as the base level for the qualitative independent variable is lE(y

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