EBK BASIC BUSINESS STATISTICS
14th Edition
ISBN: 9780134685168
Author: STEPHAN
Publisher: YUZU
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Chapter 15, Problem 4PS
a.
To determine
Find multiple linear regression equation for the provided data.
b.
To determine
Find quadratic regression equation for the above data.
c.
To determine
Comment which model is better between (a) and (b).
d.
To determine
Conclude about the relationship between calories, alcohol, and carbohydrate.
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Is the number of calories in a beer related to the number of carbohydrates and/or the percentage of alcohol in the beer? The accompanying table has data for 35 beers. The values for three variables are included: the number of calories per 12ounces, the alcohol percentage, and the number of carbohydrates (in grams) per 12 ounces.
a.
Perform a multiple linear regression analysis, using calories as the dependent variable and percentage alcohol and number of carbohydrates as the independent variables.
Let
X1
represent alcohol percentage and let
X2
represent the number of carbohydrates.
(Round to four decimal places as needed.)
Bowling Corporation wants to know how closely its current cost driver is correlated with its monthly operating costs. The managerial accountant runs a regression analysis using a statistical software program and
produces the following data:
Intercept Coefficient = 12,200,567
X Variable 1 Coefficient = 95.65
R-square= 0.8574
What is the Bowling Corporation's monthly cost equation?
OA. y $95.65x + $12,200,567
OB. y $95.65x + $8.574
O c. y = $0.8574x + $12,200,567
O D. y = $12,200,567x + $8,574
---
The accompanying table shows a portion of data consisting of the selling price, the age, and the mileage for 20 used
sedans.
Selling
Price
13,632
13,750
Age Miles
6 61,524
4 54,396
11,968
8 42,398
L Click here for the Excel Data File
a. Determine the sample regression equation that enables us to predict the
Price of a sedan on the basis of its age and mileage. (Negative values should be indicated by a minus sign. Round
your answers to 2 decimal places.) [If you are using R to obtain the output, then first enter the following command
at the prompt: options(scipen=10). This will ensure that the output is not in scientific notation.]
Price =
|Age +
Miles
b. Interpret the slope coefficient of Age.
The slope coefficient of Age is -578.38, which suggests that for every additional year of age, the predicted price
of car decreases by $578.38.
O The slope coefficient of Age is -0.09, which suggests that for every additional year of age, the predicted price of
car decreases by $0.09.
The slope…
Chapter 15 Solutions
EBK BASIC BUSINESS STATISTICS
Ch. 15 - The following is the quadratic regression equation...Ch. 15 - Business actively recruit business student with...Ch. 15 - A study was conducted on automobile engines to...Ch. 15 - Prob. 4PSCh. 15 - In the production of printed circuit boards,...Ch. 15 - An automotive sales manager wishes to examine the...Ch. 15 - Researchers wanted to investigate the relationship...Ch. 15 - Prob. 8PSCh. 15 - Prob. 9PSCh. 15 - Prob. 10PS
Ch. 15 - Using the data of Problem 15.4 on page 600, stored...Ch. 15 - Using the data of Problem 15.6 on page 601, stored...Ch. 15 - Using the data of Problem 15.6 on page 601 stored...Ch. 15 - If the coefficient of determination between two...Ch. 15 - If the coefficient of determination between two...Ch. 15 - Prob. 16PSCh. 15 - Refer to Problem 14.5 on page 542. Perform a...Ch. 15 - Refer to Problem 14.6 on page 542. Perform a...Ch. 15 - Refer to Problem 14.7 on page 542. Perform a...Ch. 15 - Refer to Problem 14.8 on page 542. Perform a...Ch. 15 - Prob. 21PSCh. 15 - Prob. 22PSCh. 15 - Prob. 23PSCh. 15 - You need to develop a model to predict the asking...Ch. 15 - Accounting Today identified top public accounting...Ch. 15 - How can you evaluate whether collinearity exists...Ch. 15 - Prob. 27PSCh. 15 - Prob. 28PSCh. 15 - A Specialist in baseball analytics has expanded...Ch. 15 - In the production of printed circuit boards,...Ch. 15 - Hemlock Farms is a community located in the Pocono...Ch. 15 - Prob. 32PSCh. 15 - Prob. 33PSCh. 15 - Prob. 34PSCh. 15 - You are a real estate broker who wants to compare...Ch. 15 - You are a real estate broker who wants to compare...Ch. 15 - Financial analysts engage in business valuation to...Ch. 15 - Prob. 38PSCh. 15 - A molding machine that contains different cavities...Ch. 15 - The file Cites contains a sample of 25 cities in...Ch. 15 - In problem 15.32-15.36 you developed multiple...
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- Find the equation of the regression line for the following data set. x 1 2 3 y 0 3 4arrow_forwardThe accompanying table shows a portion of data consisting of the selling price, the age, and the mileage for 20 used sedans. Selling Price 13,532 13,740 Age Miles 8. 61,456 54,394 11,954 9 42,428 Click here for the Excel Data File a. Determine the sample regression equation that enables us to predict the price of a sedan on the basis of its age and mileage. (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) [If you are using R to obtain the tput, then first enter the following command at the prompt: optic scientific notation.] ipen=D10). This will ensure that the output is not in Pr ice + Age + Miles. b. Interpret the slope coefficient of Age. The slope coefficient of Age is -359.04, which suggests that for every additional year of age, the predicted price of car decreases by $359.04. O The slope coefficient of Age is -0.09, which suggests that for every additional year of age, the predicted price of car decreases by $0.09. The slope…arrow_forwardThe accompanying table shows a portion of data consisting of the selling price, the age, and the mileage for 20 used sedans. Selling Price Age Miles 13,636 8 61,500 13,783 7 54,361 ⋮ ⋮ ⋮ 11,948 7 42,368 Click here for the Excel Data Filea. Determine the sample regression equation that enables us to predict the price of a sedan on the basis of its age and mileage. (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) [If you are using R to obtain the output, then first enter the following command at the prompt: options(scipen=10). This will ensure that the output is not in scientific notation.] PriceˆPrice^ = + Age + Miles. b. Interpret the slope coefficient of Age.multiple choice The slope coefficient of Age is −824.18, which suggests that for every additional year of age, the predicted price of car decreases by $824.18. The slope coefficient of Age is −0.08, which suggests that for every additional…arrow_forward
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