Statistical Techniques in Business and Economics
16th Edition
ISBN: 9780077639723
Author: Lind
Publisher: Mcgraw-Hill Course Content Delivery
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Chapter 14, Problem 26CE
a.
To determine
Make the
Explain whether there are any problems with multicollinearity.
b.
To determine
Find the regression equation and explain.
Find the number of additional family member to the amount spent on food.
c.
To determine
Find the value of
Also explain whether the
d.
To determine
Explain whether any of the independent variables will be deleted.
e.
To determine
Plot the residuals in a histogram.
Also explain whether there is any problem with the normal assumptions.
f.
To determine
Plot the residual plot.
Explain whether the plot reveals any problems with homoscedasticity.
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Many regions in North and South Carolina and Georgia have experienced rapid population growth over the last 10 years. It is expected that the growth will continue over the next 10 years. This has motivated many of the large grocery store chains to build new stores in the region. The Kelley’s Super Grocery Stores Inc. chain is no exception. The director of planning for Kelley’s Super Grocery Stores wants to study adding more stores in this region. He believes there are two main factors that indicate the amount families spend on groceries. The first is their income and the other is the number of people in the family. The director gathered the following sample information.
Family
Food
Income
Size
1
$
5.37
$
73.98
4
2
4.08
54.90
2
3
5.76
156.22
4
4
3.48
52.02
1
5
4.20
65.70
2
6
4.80
53.64
4
7
4.32
79.74
3
8
5.04
68.58
4
9
6.12
165.60
5
10
3.24
64.80
1
11
4.80…
Many regions in North and South Carolina and Georgia have experienced rapid population growth over the last 10 years. It is expected that the growth will continue over the next 10 years. This has motivated many of the large grocery store chains to build new stores in the region. The Kelley’s Super Grocery Stores Inc. chain is no exception. The director of planning for Kelley’s Super Grocery Stores wants to study adding more stores in this region. He believes there are two main factors that indicate the amount families spend on groceries. The first is their income and the other is the number of people in the family. The director gathered the following sample information.
Family
Food
Income
Size
1
$
5.04
$
73.98
4
2
4.08
54.90
2
3
5.76
94.14
4
4
3.48
52.02
1
5
4.20
65.70
2
6
4.80
53.64
4
7
4.32
79.74
3
8
5.04
68.58
4
9
6.12
165.60
5
10
3.24
64.80
1
11
4.80…
Many regions in North and South Carolina and Georgia have experienced rapid population growth over the last 10 years. It is expected that the growth will continue over the next 10 years. This has motivated many of the large grocery store chains to build new stores in the region. The Kelley’s Super Grocery Stores Inc. chain is no exception. The director of planning for Kelley’s Super Grocery Stores wants to study adding more stores in this region. He believes there are two main factors that indicate the amount families spend on groceries. The first is their income and the other is the number of people in the family. The director gathered the following sample information.
Family
Food
Income
Size
1
$
6.16
$
73.98
5
2
4.08
54.90
2
3
5.76
124.25
4
4
3.48
52.02
1
5
4.20
65.70
2
6
4.80
53.64
4
7
4.32
79.74
3
8
5.04
68.58
4
9
6.12
165.60
5
10
3.24
64.80
1
11
4.80…
Chapter 14 Solutions
Statistical Techniques in Business and Economics
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 - Refer to the Real Estate data, which report...Ch. 14 - Prob. 34DECh. 14 - Refer to the Buena School District bus data....Ch. 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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