Gen Combo Ll Statistical Techniques In Business And Economics; Connect Ac
17th Edition
ISBN: 9781260149623
Author: Lind
Publisher: MCG
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Chapter 14, Problem 17CE
The district manager of Jasons, a large discount electronics chain, is investigating why certain stores in her region are performing better than others. She believes that three factors are related to total sales: the number of competitors in the region, the population in the surrounding area, and the amount spent on advertising. From her district, consisting of several hundred stores, she selects a random sample of 30 stores. For each store, she gathered the following information.
y = total sales last year (in $ thousands)
x1 = number of competitors in the region
x2 = population of the region (in millions)
x3 = advertising expense (in $ thousands)
The results of a multiple
- a. What are the estimated sales for the Bryne store, which has four competitors, a regional population of 0.4 (400,000), and an advertising expense of 30 ($30,000)?
- b. Compute the R2 value.
- c. Compute the multiple standard error of estimate.
- d. Conduct a global test of hypothesis to determine whether any of the regression coefficients are not equal to zero. Use the .05 level of significance.
- e. Conduct tests of hypothesis to determine which of the independent variables have significant regression coefficients. Which variables would you consider eliminating? Use the .05 significance level.
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The table below shows the prices (R) and quantities (kg) of rice, meat and potatoes items bought during 2013 and 2014:
2013
2014
P1Qo
PoQo
Q1Po P1Q1
Price
Ро
Quantity
Qo
Price
P1
Quantity
Q1
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7
80
6
70
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490
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30
50
35
60
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3
100
300
300
300
300
TOTAL
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230
44
230
2 530
2 360
2 590
2 820
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口X
2025/05
The table below indicates the number of years of experience of a sample of employees who work on a particular production line and the corresponding number of units of a good that each employee produced last month.
Years of Experience (x)
Number of Goods (y)
11
63
5
57
1
48
4
54
45
3
51
Q.1.1 By completing the table below and then applying the relevant formulae, determine the line of best fit for this bivariate data set.
Do NOT change the units for the variables.
X
y
X2
xy
Ex=
Ey=
EX2
EXY=
Q.1.2 Estimate the number of units of the good that would have been produced last month by an employee with 8 years of experience.
Q.1.3 Using your calculator, determine the coefficient of correlation for the data set.
Interpret your answer.
Q.1.4 Compute the coefficient of determination for the data set.
Interpret your answer.
Chapter 14 Solutions
Gen Combo Ll Statistical Techniques In Business And Economics; Connect Ac
Ch. 14 - There are many restaurants in northeastern South...Ch. 14 - The director of marketing at Reeves Wholesale...Ch. 14 - Thompson Photo Works purchased several new, highly...Ch. 14 - A consulting group was hired by the Human...Ch. 14 - Cellulon, a manufacturer of home insulation, wants...Ch. 14 - Refer to Self-Review 141 on the subject of...Ch. 14 - Prob. 5ECh. 14 - Prob. 6ECh. 14 - Prob. 3SRCh. 14 - Given the following regression output, answer the...
Ch. 14 - The following regression output was obtained from...Ch. 14 - A study by the American Realtors Association...Ch. 14 - The manager of High Point Sofa and Chair, a large...Ch. 14 - Prob. 10ECh. 14 - Prob. 11ECh. 14 - A real estate developer wishes to study the...Ch. 14 - Prob. 13CECh. 14 - Prob. 14CECh. 14 - Prob. 15CECh. 14 - Prob. 16CECh. 14 - The district manager of Jasons, a large discount...Ch. 14 - Suppose that the sales manager of a large...Ch. 14 - The administrator of a new paralegal program at...Ch. 14 - Prob. 20CECh. 14 - Prob. 21CECh. 14 - A regional planner is studying the demographics of...Ch. 14 - Great Plains Distributors, Inc. sells roofing and...Ch. 14 - Prob. 24CECh. 14 - Prob. 25CECh. 14 - Prob. 26CECh. 14 - An investment advisor is studying the relationship...Ch. 14 - Prob. 28CECh. 14 - Prob. 29CECh. 14 - The director of special events for Sun City...Ch. 14 - Prob. 31CECh. 14 - Prob. 32CECh. 14 - Prob. 33DACh. 14 - Prob. 34DACh. 14 - Prob. 35DACh. 14 - Prob. 1PCh. 14 - Quick-print firms in a large downtown business...Ch. 14 - The following ANOVA output is given. a. Compute...Ch. 14 - Prob. 1CCh. 14 - Prob. 2CCh. 14 - Prob. 3CCh. 14 - In a scatter diagram, the dependent variable is...Ch. 14 - What level of measurement is required to compute...Ch. 14 - If there is no correlation between two variables,...Ch. 14 - Which of the following values indicates the...Ch. 14 - Under what conditions will the coefficient of...Ch. 14 - Given the following regression equation, = 7 ...Ch. 14 - Given the following regression equation, = 7 ...Ch. 14 - Given the following regression equation, = 7 ...Ch. 14 - Prob. 1.9PTCh. 14 - In a multiple regression equation, what is the...Ch. 14 - Prob. 1.11PTCh. 14 - Prob. 1.12PTCh. 14 - For a dummy variable, such as gender, how many...Ch. 14 - What is the term given to a table that shows all...Ch. 14 - If there is a linear relationship between the...Ch. 14 - Given the following regression analysis output: a....Ch. 14 - Given the following regression analysis output. a....
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