Chapter 13, Problem 13.8AC

Calculate two lines of regression and calculate a linear regression equation to model the data given below:  years  (1980,1985,1990,1995,2000) Enrolment ( 21,25,29,39,47)

Q1) A real estate consultant is considering developing a series of price models for residential houses in different areas of the province of Ontario, in Canada. The dataset, provided by the Windsor and Essex County Board, covers residential home sales in Windsor. To develop the model, the consultant performs a linear regression to estimate the price (in Canadian dollars) as a linear function of the size of the apartment (in square feet) and obtains the following Excel result. SUMMARY OUTPUT Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.53580413 0.28708607 0.28577556 41101.9362 546 ANOVA df MS Significance F 1 3.70082E+11 3.7008E+11 219.065461 6.74643E-42 Regression Residual Total 544 9.19017E+11 1689369158 545 1.2891E+12 Coefficients Standard Error 62171.5874 4537.036582 13.7031268 6.2969E-37 53259.33066 71083.8441 t Stat P-value Lower 95% Upper 95% Intercept LOTSIZE 12.0187669 0.81203165 14.8008601 6.7464E-42 10.42366523 13.6138685 a) Write…

A researcher is analyzing the relationship between various variables in housing data for 32 cities: median list prices of single family homes, condominium or co-ops, all homes, median household income, unemployment rate, and population. What is the regression equation for the model that predicts the list price of all homes using population as an explanatory variable?What is the interpretation of the slope? What is the interpretation of the intercept?

Isla Esme, Inc., sells tea products to various customers. In recent years, profits have been declining. The CFO of the business investigated the reasons for the profit decline and performed regression analysis for sales and costs. He determined that sales depend on product price, delivery speed, customer services, and marketing expenses. He also determined that total costs consist of variable costs of $25 per unit and fixed costs of $56,000. Marketing expenses have a coefficient of determination of 75% related sales.Question: Define the coefficient of determination and explain what it means in this scenario.

A magazine publishes restaurant ratings for various locations around the world. The magazine rates the restaurants for​ food, de​cor, 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.

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. Complete parts (a) through (e) below. Click the icon to view the table of summated ratings and cost per person. ..... a. Construct a scatter plot. Choose the correct graph below. A. Ов. С. D. ACost ($) 90- ACost ($) 90- ACost ($) 90- ACost ($) 90- 0- 0- 90 90 90 90 Rating Rating Rating Rating b. Assuming a linear relationship, use the least-squares method to compute the regression coefficients b, and b,. bo = and b, (Round to two decimal places as needed.) c. Interpret the meaning of the Y-intercept, bo, and the slope, b,. Choose the correct answer below. O A.…

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. Complete parts (a) through (e) below. Click the icon to view the table of summated ratings and cost per person. a. Construct a scatter plot. Choose the correct graph below. O A. Ов. OC. OD. ACost ($) 90- Q A Cost ($) 904 A Cost ($) 90- ACost ($) 90- 0- 0- 0- 0- 90 Rating 90 Rating 90 90 Rating Rating Summated ratings and cost per person b. Assuming a linear relationship, use the least-squares method to compute the regression coefficients bo and b,. bo =D and b, =O (Round to two decimal places as needed.) Summated Rating Cost ($ per person)|9 c. Interpret the…

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. Complete parts (a) through (e) below. Click the icon to view the table of summated ratings and cost per person. a. Construct a scatter plot. Choose the correct graph below. O A. 90+ 0 0 Cost ($) The M Rating 90 Q O B. A Cost (5) 90+ 0 H +4 Alpe Rating 90 Q b. Assuming a linear relationship, use the least-squares method to compute the regression coefficients bo and b₁. bo= and b₁ = (Round to two decimal places as needed.) C O C. 90+ 0- Cost (S) HA Rating 90 Q Summated Ratings and Cost Per Person Summated Rating Cost ($ per person) 40 48 60 61 42 40 43 55 67 69…

Explain the process of Computing the Regression Line?