Essentials of Modern Business Statistics with Microsoft Office Excel (Book Only)
7th Edition
ISBN: 9781337298353
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams
Publisher: South-Western College Pub
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Textbook Question
Chapter 14.8, Problem 49E
The DATAfile named CostLiving contains the cost of living indexes and the population densities (number of people per square mile) for 61 cities in the United States. The cost of living index measures the cost of living in a particular city relative to the cost of living in New York City. San Francisco has an index of 112.15, meaning that is 12.15% more expensive to live in San Francisco than New York City. Washington DC has an index of 84.64, which means that the cost to live in Washington DC is only 84.64% of what it costs to live in New York City (Numbeo website, July 13, 2016).
a. Develop the estimated regression equation that can be used to predict the cost of living index for a U.S. city, given the city's population density.
b. Construct a residual plot against the independent variable.
c. Review the residual plot constructed in part (b). Do the assumptions of the error term and model form seem reasonable?
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NUMBER OF QUESTIONS ANSWERED CORRECTLY ON AN APTITUDE EXAM
112
72
69
97
107
73
92
76
86
73
126
128
118
127
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134
83
92
108
96
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92
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119
The following ordered data list shows the data speeds for cell phones used by a
telephone company at an airport:
A. Calculate the Measures of Central Tendency using the table in point B.
B. Are there differences in the measurements obtained in A and C? Why (give at
least one justified reason)?
0.8
1.4
1.8
1.9
3.2
3.6
4.5
4.5
4.6
6.2
6.5
7.7
7.9
9.9
10.2
10.3
10.9
11.1
11.1
11.6
11.8
12.0
13.1
13.5
13.7
14.1
14.2
14.7
15.0
15.1
15.5
15.8
16.0
17.5
18.2
20.2
21.1
21.5
22.2
22.4
23.1
24.5
25.7
28.5
34.6
38.5
43.0
55.6
71.3
77.8
Chapter 14 Solutions
Essentials of Modern Business Statistics with Microsoft Office Excel (Book Only)
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