Construct a scatter diagram . Explain the relationship between the variables. Check whether there is a direct or indirect relationship and also, check whether the relationship is weak or strong.

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Answer 1

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Compare Compare Correlation is the measure of the degree of the relationship between the variables. In regression, the relationship between the variables to predict one by another is assessed. In correlation there is no cause and effect between the variables, whereas in regression there is a cause and effect between the variables. By using correlation, we cannot predict anything, but regression is a predictive tool. Coefficients are symmetrical in correlation but in regression they are asymmetrical. Correlation is independent of change in origin and scale, but regression is not independent of change in scale.

Chapter 13, Problem 64DE

a.

To determine

Construct a scatter diagram.

Explain the relationship between the variables.

Check whether there is a direct or indirect relationship and also, check whether the relationship is weak or strong.

b.

To determine

Find the regression equation.

Find the amount that an additional year is added to the maintenance cost.

Find the estimated maintenance cost for a 10-year-old bus.

c.

To determine

Check whether the slope of the regression line is positive or not.

Interpret the findings from Parts (a), (b), and (c).

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Spring is a peak time for selling houses. The file SpringHouses contains the selling price, number of bathrooms, square footage, and number of bedrooms of 26 homes sold in Ft. Thomas, Kentucky, in spring 2018 (realtor.com website) Click on the datafile logo to reference the data. DATA file a. The Excel output for the estimated regression equation that can be used to predict the selling price given the number of bathrooms, square footage, and number of bedrooms in the house: SUMMARY OUTPUT Multiple R R Square Adjusted R Square Standard Error Observations ANOVA Regression statistics Regression Residual Total Multiple R R Square ANOVA Adjusted R Square Standard Error Observations 0.7429 0.5519 0.4907 61948.6931 Regression statistics Regression Residual Total df Intercept Sq Ft Beds Lower 95% 0.9353 -145129.5298 Intercept Baths 0.9528 -49383.5243 0.0180 Sq Ft Beds 0.0326 Does the estimated regression equation provide a good fit to the data? Explain. Hint: If R is greater than 45%, the…

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Refer to the Buena School bus data. Develop a regression equation that expresses the relationship between age of the bus and maintenance. The age of the bus is the inde- pendent variable. Draw a scatter diagram. What does this diagram suggest as to the relationship between the two variables? Is it direct or indirect? Does it appear to be strong or weak? Develop a regression equation. How much does an additional year add to the main- tenance cost. What is the estimated maintenance cost for a 10-year-old bus? Conduct a test of hypothesis to determine whether the slope of the regression line is greater than zero. Use the .05 significance level. Interpret your findings from parts (a), (b), and (c) in a brief report.

Answer 2

Question

Compare Compare Correlation is the measure of the degree of the relationship between the variables. In regression, the relationship between the variables to predict one by another is assessed. In correlation there is no cause and effect between the variables, whereas in regression there is a cause and effect between the variables. By using correlation, we cannot predict anything, but regression is a predictive tool. Coefficients are symmetrical in correlation but in regression they are asymmetrical. Correlation is independent of change in origin and scale, but regression is not independent of change in scale.

Chapter 13, Problem 64DE

a.

To determine

Construct a scatter diagram.

Explain the relationship between the variables.

Check whether there is a direct or indirect relationship and also, check whether the relationship is weak or strong.

b.

To determine

Find the regression equation.

Find the amount that an additional year is added to the maintenance cost.

Find the estimated maintenance cost for a 10-year-old bus.

c.

To determine

Check whether the slope of the regression line is positive or not.

Interpret the findings from Parts (a), (b), and (c).

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 3

Question

Compare Compare Correlation is the measure of the degree of the relationship between the variables. In regression, the relationship between the variables to predict one by another is assessed. In correlation there is no cause and effect between the variables, whereas in regression there is a cause and effect between the variables. By using correlation, we cannot predict anything, but regression is a predictive tool. Coefficients are symmetrical in correlation but in regression they are asymmetrical. Correlation is independent of change in origin and scale, but regression is not independent of change in scale.

Chapter 13, Problem 64DE

a.

To determine

Construct a scatter diagram.

Explain the relationship between the variables.

Check whether there is a direct or indirect relationship and also, check whether the relationship is weak or strong.

b.

To determine

Find the regression equation.

Find the amount that an additional year is added to the maintenance cost.

Find the estimated maintenance cost for a 10-year-old bus.

c.

To determine

Check whether the slope of the regression line is positive or not.

Interpret the findings from Parts (a), (b), and (c).

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Compare Compare Correlation is the measure of the degree of the relationship between the variables. In regression, the relationship between the variables to predict one by another is assessed. In correlation there is no cause and effect between the variables, whereas in regression there is a cause and effect between the variables. By using correlation, we cannot predict anything, but regression is a predictive tool. Coefficients are symmetrical in correlation but in regression they are asymmetrical. Correlation is independent of change in origin and scale, but regression is not independent of change in scale.

Chapter 13, Problem 64DE

a.

To determine

Construct a scatter diagram.

Explain the relationship between the variables.

Check whether there is a direct or indirect relationship and also, check whether the relationship is weak or strong.

b.

To determine

Find the regression equation.

Find the amount that an additional year is added to the maintenance cost.

Find the estimated maintenance cost for a 10-year-old bus.

c.

To determine

Check whether the slope of the regression line is positive or not.

Interpret the findings from Parts (a), (b), and (c).

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 5

Chapter 13, Problem 64DE

a.

To determine

Construct a scatter diagram.

Explain the relationship between the variables.

Check whether there is a direct or indirect relationship and also, check whether the relationship is weak or strong.

b.

To determine

Find the regression equation.

Find the amount that an additional year is added to the maintenance cost.

Find the estimated maintenance cost for a 10-year-old bus.

c.

To determine

Check whether the slope of the regression line is positive or not.

Interpret the findings from Parts (a), (b), and (c).

Answer 6

Chapter 13, Problem 64DE

a.

To determine

Construct a scatter diagram.

Explain the relationship between the variables.

Check whether there is a direct or indirect relationship and also, check whether the relationship is weak or strong.

Answer 7

Chapter 13, Problem 64DE

a.

To determine

Construct a scatter diagram.

Explain the relationship between the variables.

Check whether there is a direct or indirect relationship and also, check whether the relationship is weak or strong.

Answer 8

b.

To determine

Find the regression equation.

Find the amount that an additional year is added to the maintenance cost.

Find the estimated maintenance cost for a 10-year-old bus.

Answer 9

b.

To determine

Find the regression equation.

Find the amount that an additional year is added to the maintenance cost.

Find the estimated maintenance cost for a 10-year-old bus.

Answer 10

c.

To determine

Check whether the slope of the regression line is positive or not.

Interpret the findings from Parts (a), (b), and (c).

Answer 11

c.

To determine

Check whether the slope of the regression line is positive or not.

Interpret the findings from Parts (a), (b), and (c).

Answer 12

Expert Solution & Answer

Answer 13

Expert Solution & Answer

Answer 14

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Answer 15

Ch. 13 - Prob. 1SR Ch. 13 - Prob. 1E Ch. 13 - Prob. 2E Ch. 13 - Bi-lo Appliance Super-Store has outlets in several...Ch. 13 - Prob. 4E Ch. 13 - Prob. 5E Ch. 13 - The owner of Maumee Ford-Volvo wants to study the...Ch. 13 - Prob. 2SR Ch. 13 - Prob. 7E Ch. 13 - Prob. 8E

Construct a scatter diagram . Explain the relationship between the variables. Check whether there is a direct or indirect relationship and also, check whether the relationship is weak or strong.

Concept explainers

Videos

Construct a scatter diagram.

Explain the relationship between the variables.

Check whether there is a direct or indirect relationship and also, check whether the relationship is weak or strong.

Find the regression equation.

Find the amount that an additional year is added to the maintenance cost.

Find the estimated maintenance cost for a 10-year-old bus.

Check whether the slope of the regression line is positive or not.

Interpret the findings from Parts (a), (b), and (c).

Want to see the full answer?

Chapter 13 Solutions

Construct a scatter diagram . Explain the relationship between the variables. Check whether there is a direct or indirect relationship and also, check whether the relationship is weak or strong.

Concept explainers

Videos

Construct a scatter diagram. Explain the relationship between the variables. Check whether there is a direct or indirect relationship and also, check whether the relationship is weak or strong.

Find the regression equation. Find the amount that an additional year is added to the maintenance cost. Find the estimated maintenance cost for a 10-year-old bus.

Check whether the slope of the regression line is positive or not. Interpret the findings from Parts (a), (b), and (c).

Want to see the full answer?

Chapter 13 Solutions

Construct a scatter diagram.

Explain the relationship between the variables.

Check whether there is a direct or indirect relationship and also, check whether the relationship is weak or strong.

Find the regression equation.

Find the amount that an additional year is added to the maintenance cost.

Find the estimated maintenance cost for a 10-year-old bus.

Check whether the slope of the regression line is positive or not.

Interpret the findings from Parts (a), (b), and (c).