Statistical Techniques in Business and Economics
18th Edition
ISBN: 9781260579611
Author: Douglas Lind; William Marchal; Samuel Wathen
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 14, Problem 32CE
To determine
Perform a test of hypothesis to check if the interaction is significant by adding a new variable that describes the potential interaction between the loan amount and the number of payments made.
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Help with number 5
You are a new hire at Laurel Woods Real Estate, which specializes in selling foreclosed homes via public auction. Your boss has asked you to use the following data (mortgage balance, monthly payments, payments made before default, and final auction price) on a random sample of recent sales to estimate what the actual auction price will be.
Loan ($)
Payments ($)
Payments Made
Auction ($)
85600
985.87
1
16900
115300
902.56
33
75800
103100
736.28
6
43900
84600
945.45
9
16600
97600
821.07
24
40700
104400
983.27
26
63100
113800
1075.54
19
72600
116400
1087.16
35
72300
100000
900.01
33
58100
92800
683.11
36
37100
105200
915.24
34
52600
105900
905.67
38
51900
94700
810.7
25
43200
105600
891.33
20
52600
104100
864.38
7
42700
85700
1074.73
30
22200
113600
871.61
24
77000
119400
1021.23
58
69000
90600
836.46
3
35600
104500
1056.37
22
63000
GIVEN - ALL CORRECT:
Auction price =(118,929.46)+1.63 Loan +2.06 Monthly payment +50.34 Payments Made.…
Chapter 14 Solutions
Statistical Techniques in Business and Economics
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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- You are a new hire at Laurel Woods Real Estate, which specializes in selling foreclosed homes via public auction. Your boss has asked you to use the following data (mortgage balance, monthly payments, payments made before default, and final auction price) on a random sample of recent sales to estimate what the actual auction price will be. Loan ($) Payments ($) Payments Made Auction ($) 85600 985.87 1 16900 115300 902.56 33 75800 103100 736.28 6 43900 84600 945.45 9 16600 97600 821.07 24 40700 104400 983.27 26 63100 113800 1075.54 19 72600 116400 1087.16 35 72300 100000 900.01 33 58100 92800 683.11 36 37100 105200 915.24 34 52600 105900 905.67 38 51900 94700 810.7 25 43200 105600 891.33 20 52600 104100 864.38 7 42700 85700 1074.73 30 22200 113600 871.61 24 77000 119400 1021.23 58 69000 90600 836.46 3 35600 104500 1056.37 22 63000 GIVEN - ALL CORRECT: Auction price =(118,929.46)+1.63 Loan +2.06 Monthly payment +50.34 Payments Made.…arrow_forwardYou are the warehouse manager for Discovery Kitchen Supplies. On a Sunday in May, you receive a phone call from the owner. He states that the entire building and contents were destroyed by fire. For the police report and the insurance claim, the owner has asked you to estimate the value of the lost inventory. Your records, which luckily were backed up on the hard drive of your home computer, indicate that at the time of the fire, the net sales to date were $654,300 and the purchases were $290,400. The beginning inventory on January 1 was $329,700. For the past three years, the company has operated at a gross margin of 20%. Use the gross profit method to calculate your answer. Round your answer to the nearest dollar.$arrow_forwardPlease help me with my assignment please I need to submit this after an hour. Complete solution, a to f. Thank you!arrow_forward
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- Make sure to do the rounding and double check the Answers please.arrow_forwardBelow we list several variables. Which of these variables are quantitative, and which are qualitative?arrow_forwardIn the early 2000s interest rates were low so many homeowners refinanced their home mortgages. Linda is a mortgage officer at Maybank Savings and Loan. Below is the amount refinanced for twenty loans she processed last week. The data are reported in thousands of dollars and arranged from smallest to largest. 59.2 59.5 61.6 65.5 66.6 72.9 74.8 77.3 79.2 83.7 85.6 85.8 86.6 87.0 87.1 90.2 93.3 98.6 100.2 100.7 a. Find the mean, median, 1stquartile and 3rd quartile b. Draw a stem and leaf plot of the data using class width of 10arrow_forward
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