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 4E
Cellulon, a manufacturer of home insulation, wants to develop guidelines for builders and consumers on how the thickness of the insulation in the attic of a home and the outdoor temperature affect natural gas consumption. In the laboratory, it varied the insulation thickness and temperature. A few of the findings are:
On the basis of the sample results, the regression equation is:
- a. How much natural gas can homeowners expect to use per month if they install 6 inches of insulation and the outdoor temperature is 40 degrees F?
- b. What effect would installing 7 inches of insulation instead of 6 have on the monthly natural gas consumption (assuming the outdoor temperature remains at 40 degrees F)?
- c. Why are the regression coefficients b1 and b2 negative? Is this logical?
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The accompanying table shows results from regressions performed on data from a random sample of 21 cars. The response (y) variable is CITY (fuel consumption in mi/gal). The predictor (x)
variables are WT (weight in pounds), DISP (engine displacement in liters), and HWY (highway fuel consumption in mi/gal). Which regression equation is best for predicting city fuel consumption?
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OA. The equation CITY = -3.12 +0.824HWY is best because it has a low P-value and its R2 and adjusted R² values are comparable to the R2 and adjusted R2 values of equations with more
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OB. The equation CITY=6.88-0.00131WT-0.251DISP+0.654HWY is best because it has a low P-value and the highest value of R².
OC. The equation CITY = 6.65 -0.00156WT +0.665HWY is best because it has a low P-value and the highest adjusted value of R².
CITY=6.88-0.00131WT-0.251DISP+0.654HWY is best because it uses all of the…
The accompanying table shows results from regressions performed on data from a random sample of 21 cars. The response (y) variable is CITY (fuel consumption in
mi/gal). The predictor (x) variables are WT (weight in pounds), DISP (engine displacement in liters), and HWY (highway fuel consumption in mi/gal). Which regression
equation is best for predicting city fuel consumption? Why?
Click the icon to view the table of regression equations.
Choose the correct answer below.
A. The equation CITY=6.86 -0.00131WT -0.258DISP+0.659HWY is best because it has a low P-value and the highest value of R².
B. The equation CITY=6.73 -0.00157WT +0.668HWY is best because it has a low P-value and the highest adjusted value of R².
C.
The equation CITY= -3.15+0.823HWY is best because it has a low P-value and its R² and adjusted R² values are comparable to the R² and adjusted R²
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O D. The equation CITY=6.86 -0.00131WT-0.258DISP + 0.659HWY is best because it…
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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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