STAT TECH IN BUSINESS & ECON AC
18th Edition
ISBN: 9781264731657
Author: Lind
Publisher: MCG
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Chapter 14, Problem 1P
a.
To determine
Find the dependent variable.
b.
To determine
Find the general regression equation.
c.
To determine
Find the predicted sales for a store for the given conditions.
d.
To determine
Explain the
e.
To determine
Explain the multiple standard error of estimate of 3.
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The following data show the brand, price , and the overall score for six stereo headphones that were tested by Consumer Reports (Consumer Reports website). The overall score is based on sound quality and effectiveness of ambient noise reduction. Scores range from (lowest) to (highest). The estimated regression equation for these data is , where and .
A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. Click on the datafile logo to reference the data.
a. Choose the correct scatter diagram for these data with years of experience as the independent variable. B
(NEED ANSWERS FOR B and C)
b. Develop an estimated regression equation that can be used to predict annual sales given the years of experience.
c. Use the estimated regression equation to predict annual sales for a salesperson with 9 years of experience (to the nearest whole number).
Mark Price, the new productions manager for Speakers and Company, needs to find out which variable most affects the demand for their line of stereo speakers. He is uncertain whether the unit price of the product or the effects of increased marketing are the main drivers in sales and wants to use regression analysis to figure out which factor drives more demand for their particular market. Pertinent information was collected by an extensive marketing project that lasted over the past 10 years and was reduced to the data that follow:
YEAR SALES/UNIT
(THOUSANDS) PRICE $/UNIT ADVERTISING
($000)
1998 395 278 605
1999 695 219 831
2000 895 216 1,104
2001 1,286 207 1,404
2002 1,147 219 1,203
2003 1,180 193 1,286
2004 895 222 884
2005 1,104 202 1,104
2006 974 220 696
2007 1,238 216 884
2008 884 220 696
2009 804 247 696
Chapter 14 Solutions
STAT TECH IN BUSINESS & ECON AC
Ch. 14 - There are many restaurants in northeastern South...Ch. 14 - Prob. 1ECh. 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 - 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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