Pearson eText Business Statistics: First Course -- Instant Access (Pearson+)
8th Edition
ISBN: 9780136880974
Author: David Levine, David Stephan
Publisher: PEARSON+
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A magazine publishes restaurant ratings for various locations around the world. The magazine rates the restaurants for food, decor, service, and the cost per person. Develop a regression model to predict the cost per person, based on a variable that represents the sum of the three ratings. The magazine has compiled the accompanying table of this summated ratings variable and the cost per person for 25 restaurants in a major city.
Predict the mean cost per person for a restaurant with a summated rating of 70.
The following regression equation is based on the analysis of four variables: SM_DOLLARS is the dollar amount of a watershed conservation agency's weekly spending on social media ads. RADIO_ADS is the number of radio advertisements aired weekly by the agency. WS_DOLLARS is the dollar amount of the agency’s weekly spending on web search ads. The variable WEB_VISITS is the number of weekly visitors to their educational website. These data have been recorded every week for the past three years.
WEB_VISITS (expected) = 208 + 1.5*SM_DOLLARS + 0.5*RADIO_ADS + 0.8*WS_DOLLARS
The data meet the assumptions for regression analysis, and the regression results, including the coefficients, were found to be statistically significant.
How many additional weekly web visits would you predict when the agency increases its weekly spending on social media ads by $108 without changing the amount spent on radio ads or web search ads? (Round your answer to the nearest whole number.)
The following regression equation is based on the analysis of four variables: SM_DOLLARS is the dollar amount of a watershed conservation agency's weekly spending on social media ads. RADIO_ADS is the number of radio advertisements aired weekly by the agency. WS_DOLLARS is the dollar amount of the agency’s weekly spending on web search ads. The variable WEB_VISITS is the number of weekly visitors to their educational website. These data have been recorded every week for the past three years.
WEB_VISITS (expected) = 208 + 0.75*SM_DOLLARS + 1.5*RADIO_ADS + 1.2*WS_DOLLARS
The data meet the assumptions for regression analysis, and the regression results, including the coefficients, were found to be statistically significant.
How many additional weekly web visits would you predict when the agency increases its weekly spending on social media ads by $220 without changing the amount spent on radio ads or web search ads? (Round your answer to the nearest whole number.)
Based on the…
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- A Realtor in Massachusetts is analyzing the relationship between the sale price of a home (in $), it's the square footage (in ft2), the number of bedrooms, the number of bathrooms, and a colonial dummy variable (colonial equals 1 if a colonial-style home; 0 otherwise). The relater collects data of 36 sales in Massachusetts for analysis. The attached file “quiz_dataset1” contains the data. Build a parsimonious linear regression model. Use the model to predict the price of a 2100 ft2 colonial style home with two bedrooms and two bathrooms. Select one: a. 570268.3 b. 554347.1 c. 535347.1 d. None of the abovearrow_forwardA music critic was interested in whether particular variables measured on a song change over time. Two variables the critic considered were a song’s Tempo (in bpm) and a song’s Danceability. We will use the songs written before the year 2000 from the original SpotifySample data set. The data set that you will use to complete this investigation is called SpotifyB2000 and consists of 483 songs. Write the least-squares regression line equation describing Year and Danceability usingproper notation and values. Interpret the slope of the regression line for Year and Danceability in context. Would the interpretation of the y-intercept for Year and Danceability be meaningful? Ifso, interpret it. If not, state why not in one sentence. Calculate and record the coefficient of determination value r2for Year and Danceabilityand interpret this value in context. State the hypotheses for the test of the slope. Write the p-value found in the output from (n), and use the p-value provided in the…arrow_forwardThe below dataset AirBnB2 lists the daily price for a sample of rental properties. The data shows the number of reviews of the property, the number of days available during the year, and whether the rental is a shared space or the entire house/apartment. In addition, the response variables is the daily price of the rental. (A) Code the variable room_type as Entire house = 1 and Shared rental = 0. Report the estimated regression equation predicting the price as a function of number of reviews, availability, and whether it is a shared space or entire house in the space provided below. There are three independent variables and one response variable. (B) In addition, use the model to predict the price for a rental that is the entire house, has 100 reviews, and is available 365 days a year. Write your response in the space provided below. (C) Interpret the slope coefficient for the number of days available variable (availability_365) in context to this problem in the space provided…arrow_forward
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