STAT TECH IN BUSINESS & ECON LL\AC
18th Edition
ISBN: 9781264720545
Author: Lind
Publisher: MCG
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Chapter 13, Problem 4SR
To determine
Test whether the
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The St. Lucian Government is interested in predicting the number of weekly riders on the public buses using the following variables:
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Price of bus trips per weekThe population in the cityThe monthly income of ridersAverage rate to park your personal vehicle
Determine the multiple regression equation for the data.
What is the predicted value of the number of weekly riders if: price of bus trips per week = $24; population = $2,000,000; the monthly income of riders = $13,500; and average rate to park your personal vehicle = $150.
Interpret the coefficient of determination.
For a two-variable linear regression, if the sample correlation between the depen-
dent and independent variables is –0.7, then the independent variable explains
49% of the variation in the dependent variable. Is this statement true? Explain
your answer.
An independent researcher wants to study the factors which affected the prices set by a leading AC manufacturing company, Chester, across the country for the year 2017. She studies whether the
effect on price, of the quantity demanded of ACs by the consumers, is significant or not. She selects a random sample of 200 retail outlets of the company and estimates the following
regression equation:
P-800.75-12.58/n(Q),
(8.98) (7.64)
where is the predicted value of price of the ACs and In(Q) is the logarithm of the quantity demanded of ACs by the consumers. Standard errors are given in parentheses.
The 95% confidence interval for the slope coefficient, will be
(Round your answer to two decimal places. Enter a minus sign if your answer is negative.)
Based on the calculated confidence interval, we can say that at the 5% significance level, we will
the hypothesis that/, =0.
fail to reject
reject
Chapter 13 Solutions
STAT TECH IN BUSINESS & ECON LL\AC
Ch. 13 - Prob. 1SRCh. 13 - Prob. 1ECh. 13 - Prob. 2ECh. 13 - Bi-lo Appliance Super-Store has outlets in several...Ch. 13 - Prob. 4ECh. 13 - Prob. 5ECh. 13 - The owner of Maumee Ford-Volvo wants to study the...Ch. 13 - Prob. 2SRCh. 13 - Prob. 7ECh. 13 - Prob. 8E
Ch. 13 - Prob. 9ECh. 13 - Prob. 10ECh. 13 - Prob. 11ECh. 13 - Prob. 12ECh. 13 - Prob. 3SRCh. 13 - Prob. 13ECh. 13 - Prob. 14ECh. 13 - Prob. 15ECh. 13 - Prob. 16ECh. 13 - Prob. 17ECh. 13 - Prob. 18ECh. 13 - Prob. 19ECh. 13 - Prob. 20ECh. 13 - Prob. 4SRCh. 13 - Prob. 21ECh. 13 - Prob. 22ECh. 13 - Prob. 23ECh. 13 - Prob. 24ECh. 13 - Prob. 5SRCh. 13 - Prob. 25ECh. 13 - Prob. 26ECh. 13 - Prob. 27ECh. 13 - Prob. 28ECh. 13 - Prob. 29ECh. 13 - Prob. 30ECh. 13 - Prob. 6SRCh. 13 - Prob. 31ECh. 13 - Prob. 32ECh. 13 - Prob. 33ECh. 13 - Refer to Exercise 16. a. Determine the .95...Ch. 13 - Prob. 35ECh. 13 - A regional commuter airline selected a random...Ch. 13 - Prob. 38CECh. 13 - Prob. 39CECh. 13 - Prob. 40CECh. 13 - Prob. 41CECh. 13 - Prob. 42CECh. 13 - Prob. 43CECh. 13 - Prob. 44CECh. 13 - The manufacturer of Cardio Glide exercise...Ch. 13 - Prob. 46CECh. 13 - Prob. 47CECh. 13 - Prob. 48CECh. 13 - Prob. 49CECh. 13 - Mr. William Profit is studying companies going...Ch. 13 - Prob. 51CECh. 13 - Prob. 54CECh. 13 - A regression analysis relating the current market...Ch. 13 - Prob. 56CECh. 13 - Prob. 57CECh. 13 - Prob. 58CECh. 13 - Prob. 59CECh. 13 - Prob. 60CECh. 13 - TravelAir.com samples domestic airline flights to...Ch. 13 - The North Valley Real Estate data reports...Ch. 13 - Prob. 64DA
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