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 35DE
Refer to the Buena School District bus data. First, add a variable to change the type of bus (diesel or gasoline) to a qualitative variable. If the bus type is diesel, then set the qualitative variable to 0. If the bus type is gasoline, then set the qualitative variable to 1. Develop a regression equation using statistical software with maintenance as the dependent variable and age, miles, and bus type as the independent variables.
- a. Write out the multiple regression equation analysis. Discuss each of the variables.
- b. Determine the value of R2. Interpret.
- c. Develop a correlation matrix. Which independent variables have strong or weak
correlations with the dependent variable? Do you see any problems with multicollinearity? - d. Conduct the global test on the set of independent variables. Interpret.
- e. Conduct a test of hypothesis on each of the independent variables. Would you consider deleting any of the variables? If so, which ones?
- f. Rerun the analysis until only significant regression coefficients remain in the analysis. Identify these variables.
- g. Develop a histogram or a stem-and-leaf display of the residuals from the final regression equation developed in part (f). Is it reasonable to conclude that the normality assumption has been met?
- h. Plot the residuals against the fitted values from the final regression equation developed in part (f) against the fitted values of Y. Plot the residuals on the vertical axis and the fitted values on the horizontal axis.
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Spring is a peak time for selling houses. The file SpringHouses contains the selling price, number of bathrooms, square footage, and number of bedrooms of 26 homes sold in Ft. Thomas, Kentucky, in spring 2018 (realtor.com website)
Click on the datafile logo to reference the data.
DATA file
a. The Excel output for the estimated regression equation that can be used to predict the selling price given the number of bathrooms, square footage, and number of bedrooms in the house:
SUMMARY OUTPUT
Multiple R
R Square
Adjusted R Square
Standard Error
Observations
ANOVA
Regression statistics
Regression
Residual
Total
Multiple R
R Square
ANOVA
Adjusted R Square
Standard Error
Observations
0.7429
0.5519
0.4907
61948.6931
Regression statistics
Regression
Residual
Total
df
Intercept
Sq Ft
Beds
Lower 95%
0.9353 -145129.5298
Intercept
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0.9528 -49383.5243
0.0180
Sq Ft
Beds
0.0326
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Use the given data to find the scatter plot, equation of the regression line, and prediction.
4) Managers rate employees according to job performance and attitude. The results for several randomly selected
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Scatterplot from the calculator:
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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