Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card)
Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card)
6th Edition
ISBN: 9780357191484
Author: David R. Anderson; Dennis J. Sweeney; Thomas A. Williams
Publisher: Cengage Learning US
bartleby

Concept explainers

bartleby

Videos

Textbook Question
Book Icon
Chapter 15, Problem 44SE

The admissions officer for Clearwater College developed the following estimated regression equation relating the final college GPA to the student’s SAT mathematics score and highschool GPA.

ŷ = −1.41 + .0235x1 + .00486x2

where

x1 = high-school grade point average

x2 = SAT mathematics score

y = final college grade point average

  1. a. Interpret the coefficients in this estimated regression equation.
  2. b. Predict the final college GPA for a student who has a high-school average of 84 and a score of 540 on the SAT mathematics test.

a.

Expert Solution
Check Mark
To determine

Interpret the coefficients in the estimated regression equation.

Explanation of Solution

Calculation:

The estimated regression equation relating the final GPA to the student’s SAT mathematics score and high school is GPA is y^=1.41+0.0235x1+0.00486x2, where x1 denotes the high school grade point average, x2 denotes the SAT mathematics score and y denotes the final college grade point average.

Multiple linear regression model:

A multiple linear regression model is given as y^=b0+b1x1+...+bpxp where y^ is the predicted value of response or dependent variable, and x1,x2,...,xp are the k predictor variables. The quantities b1,b2,...,bp are the estimated slopes corresponding to x1,x2,...,xp respectively and b0 is the estimated intercept of the line, from the sample data.

Slope in a multiple regression equation:

The slope bi in a multiple regression equation is the amount of change in the response variable, y^, due to unit increase in the corresponding predictor variable, xi.

The ‘Coefficient’ column of the regression analysis output gives the slopes corresponding to the respective variables stored in the column ‘Variable’.

The coefficient or slope of x1 in the regression model is b1=0.0235.

The interpretation of the coefficient b1 in the regression model is that the value of final college grade point average (y)increases by 0.0235unit for one unit increase in high school grade point average(x1), provided the effect of SAT mathematical score (x2 ) is constant.

The coefficient or slope of x2 in the regression model is b2=0.00486.

The interpretation of the coefficient b2 in the regression model is that the value of final college grade point average (y)increases by 0.00486unit for one unit increase in SAT mathematical score (x2 ), provided the effect of high school grade point average(x1) is constant.

b.

Expert Solution
Check Mark
To determine

Predict final college GPA for a student who has a high-school average of 84 and a score of 540 on the SAT mathematical test.

Answer to Problem 44SE

The predicted final college GPA for a student who has a high-school average of 84 and a score of 540 on the SAT mathematical test is 3.19.

Explanation of Solution

Calculation:

The high school average of 84 implies that, x1=84 and SAT mathematical score 540 implies that x2=540.

The regression equation is y^=1.41+0.0235x1+0.00486x2.

For x1=84 and x2=540, predicted value of y is,

y^=1.41+0.0235(84)+0.00486(540)=1.41+1.974+2.62443.19

Thus, the predictedfinal college GPA for a student who has a high-school average of 84 and a score of 540 on the SAT mathematical test is 3.19.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
We consider the one-period model studied in class as an example. Namely, we assumethat the current stock price is S0 = 10. At time T, the stock has either moved up toSt = 12 (with probability p = 0.6) or down towards St = 8 (with probability 1−p = 0.4).We consider a call option on this stock with maturity T and strike price K = 10. Theinterest rate on the money market is zero.As in class, we assume that you, as a customer, are willing to buy the call option on100 shares of stock for $120. The investor, who sold you the option, can adopt one of thefollowing strategies:ˆ Strategy 1: (seen in class) Buy 50 shares of stock and borrow $380.ˆ Strategy 2: Buy 55 shares of stock and borrow $430.ˆ Strategy 3: Buy 60 shares of stock and borrow $480.ˆ Strategy 4: Buy 40 shares of stock and borrow $280.(a) For each of strategies 2-4, describe the value of the investor’s portfolio at time 0,and at time T for each possible movement of the stock.(b) For each of strategies 2-4, does the investor have…
Negate the following compound statement using De Morgans's laws.
Negate the following compound statement using De Morgans's laws.

Chapter 15 Solutions

Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card)

Ch. 15.3 - 11. In exercise 1, the following estimated...Ch. 15.3 - 12. In exercise 2, 10 observations were provided...Ch. 15.3 - Prob. 13ECh. 15.3 - Prob. 14ECh. 15.3 - 15. In exercise 5, the owner of Showtime Movie...Ch. 15.3 - Prob. 16ECh. 15.3 - In part (d) of exercise 9, data contained in the...Ch. 15.3 - Prob. 18ECh. 15.5 - In exercise 1, the following estimated regression...Ch. 15.5 - Prob. 20ECh. 15.5 - Prob. 21ECh. 15.5 - Prob. 22ECh. 15.5 - Testing Significance in Theater Revenue. Refer to...Ch. 15.5 - Testing Significance in Predicting NFL Wins. The...Ch. 15.5 - The Condé Nast Traveler Gold List provides ratings...Ch. 15.5 - Prob. 26ECh. 15.6 - Prob. 27ECh. 15.7 - 32. Consider a regression study involving a...Ch. 15.7 - Prob. 33ECh. 15.7 - 34. Management proposed the following regression...Ch. 15.7 - Repair Time. Refer to the Johnson Filtration...Ch. 15.7 - Prob. 36ECh. 15.7 - Prob. 37ECh. 15.8 - Prob. 40ECh. 15.8 - Exercise 5 gave the following data on weekly gross...Ch. 15.8 - The following table reports the price, horsepower,...Ch. 15 - 49. The admissions officer for Clearwater College...Ch. 15 - The personnel director for Electronics Associates...Ch. 15 - Prob. 46SECh. 15 - Recall that in exercise 44, the admissions officer...Ch. 15 - Recall that in exercise 45 the personnel director...Ch. 15 - Fortune magazine publishes an annual list of the...Ch. 15 - The Department of Energy and the U.S....Ch. 15 - The Tire Rack, an online distributor of tires and...Ch. 15 - The National Basketball Association (NBA) records...Ch. 15 - Consumer Research, Inc., is an independent agency...Ch. 15 - Matt Kenseth won the 2012 Daytona 500, the most...Ch. 15 - When trying to decide what car to buy, real value...
Knowledge Booster
Background pattern image
Statistics
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Functions and Change: A Modeling Approach to Coll...
Algebra
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Cengage Learning
Text book image
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Correlation Vs Regression: Difference Between them with definition & Comparison Chart; Author: Key Differences;https://www.youtube.com/watch?v=Ou2QGSJVd0U;License: Standard YouTube License, CC-BY
Correlation and Regression: Concepts with Illustrative examples; Author: LEARN & APPLY : Lean and Six Sigma;https://www.youtube.com/watch?v=xTpHD5WLuoA;License: Standard YouTube License, CC-BY