Statistics for Business and Economics (13th Edition)
13th Edition
ISBN: 9780134506593
Author: James T. McClave, P. George Benson, Terry Sincich
Publisher: PEARSON
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Chapter 14.9, Problem 14.53ACB
Predicting presidential elections. Refer to the Political Analysis (Vol. 17, 2009) study on predicting presidential elections, Exercise 14.44 (p. 14-37). Recall that a regression model with five independent variables was fit to data collected for n = 24 election years in order to predict Yt = percentage of the two-party vote won by the incumbent party’s candidate in election year t. The Durbin-Watson d-statistic for the model was reported as d = 1. 77. Is there evidence (at α = .05) of
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LINEAR REGRESSION AND CORRELATION
A regression model to predict Y, the state burglary rate per 100,000 people, used the following four state predictors: X₁ = median age,
X₂ = number of bankruptcies per 1.000 population, X3 = federal expenditures per capita (a leading predictor), and X4 = high school
graduation percentage.
Click here for the Excel Data File
(a) Using the sample size of 50 people, calculate the calc and p-value in the table given below. (Negative values should be indicated
by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 4 decimal places.)
Predictor
Intercept
AgeMed
Bankrupt
FedSpend
HSGrad%
Answer is complete but not entirely correct.
*calc
5.2526
-2.1764✔✔
1.4101✔
Coefficient
4,198.5808
-27.3540
17.4893
-0.0124
-29.0314
SE
799.3395
12.5687
12.4033
0.0176
7.1268
-0.7045
-4.0736
p-value
0.0000
0.0348
0.2935
0.4848
0.0002
A regression model to predict Y, the state burglary rate per 100,000 people, used the following four state predictors: X₁ = median age,
X₂ = number of bankruptcies per 1,000 population, X3 = federal expenditures per capita (a leading predictor), and X4 = high school
graduation percentage.
Click here for the Excel Data File
(a) Using the sample size of 50 people, calculate the tcalc and p-value in the table given below. (Negative values should be indicated
by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 4 decimal places.)
Predictor
Intercept
AgeMed
Bankrupt
FedSpend
HSGrad%
Coefficient
t-value =
4,198.5808
-27.3540
17.4893
-0.0124
-29.0314
SE
799.3395
12.5687
12.4033
0.0176
7.1268
tcalc
p-value
(b-1) What is the critical value of Student's t in Appendix D for a two-tailed test at a = .01? (Round your answer to 3 decimal places.)
Chapter 14 Solutions
Statistics for Business and Economics (13th Edition)
Ch. 14.1 - Explain in words how to construct a simple index.Ch. 14.1 - Explain in words how to calculate the following...Ch. 14.1 - Explain in words the difference between Laspeyres...Ch. 14.1 - The table below gives the prices for three...Ch. 14.1 - Refer to Exercise 14.4. The next table gives the...Ch. 14.1 - Annual median family income. The table below lists...Ch. 14.1 - Annual U.S. craft beer production. While overall...Ch. 14.1 - Quarterly single-family housing starts. The...Ch. 14.1 - Spot price of natural gas. The table shown in the...Ch. 14.1 - Employment in farm and nonfarm categories....
Ch. 14.1 - GOP personal consumption expenditures. The gross...Ch. 14.1 - GDP personal consumption expenditures (contd)....Ch. 14.1 - Weekly earnings for workers. The table in the next...Ch. 14.1 - Production and price of metals. The level or price...Ch. 14.2 - Describe the effect of selecting an exponential...Ch. 14.2 - A monthly time series is shown in the table to the...Ch. 14.2 - Annual U.S. craft beer production. Refer to the...Ch. 14.2 - Foreign fish production. Overfishing and pollution...Ch. 14.2 - Yearly price of gold. The price of gold is used by...Ch. 14.2 - Personal consumption in transportation. There has...Ch. 14.2 - OPEC crude oil imports. The data in the table...Ch. 14.2 - SP 500 Stock Index. Standard Poors 500 Composite...Ch. 14.5 - How does the choice of the smoothing constant w...Ch. 14.5 - Refer to Exercise 14.4 (p. 14-9). The table with...Ch. 14.5 - Annual U.S. craft beer production. Refer to...Ch. 14.5 - Quarterly single-family housing starts. Refer to...Ch. 14.5 - Consumer Price Index. The CPI measures the...Ch. 14.5 - OPEC crude oil imports. Refer to the annual OPEC...Ch. 14.5 - SP 500 Stock Index. Refer to the quarterly...Ch. 14.5 - SP 500 Stock Index (contd). Refer to Exercise...Ch. 14.5 - Monthly gold prices. The fluctuation of gold...Ch. 14.6 - Annual U.S. craft beer production. Refer to the...Ch. 14.6 - Annual U.S. craft beer production (contd). Refer...Ch. 14.6 - SP 500 Stock Index. Refer to your exponential...Ch. 14.6 - SP 500 Stock Index (contd). Refer to your Holt...Ch. 14.6 - Monthly gold prices. Refer to the monthly gold...Ch. 14.6 - US school enrollments. The next table reports...Ch. 14.8 - The annual price of a finished product (in cents...Ch. 14.8 - Retail sales in Quarters 14 over a 10-year period...Ch. 14.8 - What advantage do regression forecasts have over...Ch. 14.8 - Mortgage interest rates. The level at which...Ch. 14.8 - Price of natural gas. Refer to Exercise 14.9 (p....Ch. 14.8 - A gasoline tax on carbon emissions. In an effort...Ch. 14.8 - Predicting presidential elections. Researchers at...Ch. 14.8 - Life insurance policies in force. The table below...Ch. 14.8 - Graphing calculator sales. The next table presents...Ch. 14.8 - Prob. 14.47ACICh. 14.9 - Define autocorrelation. Explain why it is...Ch. 14.9 - For each case, indicate the decision regarding the...Ch. 14.9 - What do the following Durbin-Watson statistics...Ch. 14.9 - Company donations to charity. Refer to the Journal...Ch. 14.9 - Forecasting monthly car and truck sales. Forecasts...Ch. 14.9 - Predicting presidential elections. Refer to the...Ch. 14.9 - Mortgage interest rates. Refer to the data on...Ch. 14.9 - Price of natural gas. Refer to the annual data on...Ch. 14.9 - Life insurance policies in force. Refer to the...Ch. 14.9 - Modeling the deposit share of a retail bank....Ch. 14 - Insured Social Security workers. Workers insured...Ch. 14 - Insured Social Security workers (contd). Refer to...Ch. 14 - Retail prices of food items. In 1990, the average...Ch. 14 - Demand for emergency room services. With the...Ch. 14 - Mortgage interest rates. Refer to the annual...Ch. 14 - Price of Abbott Labs stock. The yearly closing...Ch. 14 - Price o f Abbott Labs stock (contd). Refer to...Ch. 14 - Prob. 14.65ACICh. 14 - Prob. 14.66ACICh. 14 - Quarterly GOP values (contd). Refer to Exercise...Ch. 14 - Prob. 14.68ACICh. 14 - Prob. 14.69ACICh. 14 - Prob. 14.70ACICh. 14 - IBM stock prices. Refer to Example 14.1 (p. 14-5)...Ch. 14 - Prob. 14.72ACI
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