EBK BUSINESS STATISTICS
EBK BUSINESS STATISTICS
7th Edition
ISBN: 8220102743984
Author: STEPHAN
Publisher: PEARSON
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In constructing the regression equation for predicting electricity bills (BILLS) from number of people in an area (AREA), it was calculated that the slope is 57.35 and it was known that the mean BILL is PhP 1,327.21 and the mean NUMBER is 6.31. What is the value of the intercept? O None of the Choices O PhP 768.08 O PhP 965.33 O PhP 611.10 O PhP 884.55
According to human capital theory, a person’s earning is linked to her level of education – there is a relationship between workers income and years of education. Using data from the Labour Force Survey, a researcher found the following regression results for earnings on intercept, years of education, experience, and experience squared:                         Earnings =    5.24  +  0.035 educ + 0.165 exper – 0.003 exper2                                            (2.45)      (0.012)                 (0.031)               (0.001)      Construct a 95% confidence interval for the effect of years of education on earnings  ?                                                                                                                                                                           2. Consider an individual with 8 years of experience. What would you expect to be the return to two (2) additional years of experience (the effect on earnings)?    3. According to economic theory,…
After interviewing salespersons at Harley Davidson dealerships, a researcher has created a linear regression line to explain the relationship between a Harley Davidson motorcycle's age (x) and price (y). The regression has an  = 87.7%. Write a sentence summarizing what  says about this regression.         The age of the motorcycle explains 12.3% of the variation in price.   The age of the motorcycle explains 9.36% of the variation in price.   The age of the motorcycle explains 87.7% of the variation in price.   The price of the motorcycle explains 12.3% of the variation in age.   The price of the motorcycle explains 87.7% of the variation in age.
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