STAT TECH IN BUSINESS & ECON AC
STAT TECH IN BUSINESS & ECON AC
18th Edition
ISBN: 9781264731657
Author: Lind
Publisher: MCG
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Chapter 14, Problem 26CE

a.

To determine

Make the correlation matrix.

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 R2.

Also explain whether the R2 value is greater than 0.

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

STAT TECH IN BUSINESS & ECON AC

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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