Essentials Of Statistics For Business & Economics
9th Edition
ISBN: 9780357045435
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: South-Western College Pub
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Chapter 15.7, Problem 35E
Repair Time. Refer to the Johnson Filtration problem introduced in this section. Suppose that in addition to information on the number of months since the machine was serviced and whether a mechanical or an electrical repair was necessary, the managers obtained a list showing which repairperson performed the service. The revised data follow.
- a. Ignore for now the months since the last maintenance service (x1) and the repair-person who performed the service. Develop the estimated simple linear regression equation to predict the repair time (y) given the type of repair (x2). Recall that x2 = 0 if the type of repair is mechanical and 1 if the type of repair is electrical.
- b. Does the equation that you developed in part (a) provide a good fit for the observed data? Explain.
- c. Ignore for now the months since the last maintenance service and the type of repair associated with the machine. Develop the estimated simple linear regression equation to predict the repair time given the repairperson who performed the service. Let x3 = 0 if Bob Jones performed the service and x3 = 1 if Dave Newton performed the service.
- d. Does the equation that you developed in part (c) provide a good fit for the observed data? Explain.
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24. An insurance company offers its policyholders a num- ber of different premium payment options. For a ran- domly selected policyholder, let X = the number of months between successive payments. The cdf of X is as follows:
F(x)=0.00 : x < 10.30 : 1≤x<30.40 : 3≤ x < 40.45 : 4≤ x <60.60 : 6≤ x < 121.00 : 12≤ x
a. What is the pmf of X?b. Using just the cdf, compute P(3≤ X ≤6) and P(4≤ X).
59. At a certain gas station, 40% of the customers use regular gas (A1), 35% use plus gas (A2), and 25% use premium (A3). Of those customers using regular gas, only 30% fill their tanks (event B). Of those customers using plus, 60% fill their tanks, whereas of those using premium, 50% fill their tanks.a. What is the probability that the next customer will request plus gas and fill the tank (A2 B)?b. What is the probability that the next customer fills the tank?c. If the next customer fills the tank, what is the probability that regular gas is requested? Plus? Premium?
38. Possible values of X, the number of components in a system submitted for repair that must be replaced, are 1, 2, 3, and 4 with corresponding probabilities .15, .35, .35, and .15, respectively.
a. Calculate E(X) and then E(5 - X).b. Would the repair facility be better off charging a flat fee of $75 or else the amount $[150/(5 - X)]?
[Note: It is not generally true that E(c/Y) = c/E(Y).]
Chapter 15 Solutions
Essentials Of Statistics For Business & Economics
Ch. 15.2 - The estimated regression equation for a model...Ch. 15.2 - Consider the following data for a dependent...Ch. 15.2 - 3. In a regression analysis involving 30...Ch. 15.2 - A shoe store developed the following estimated...Ch. 15.2 - Theater Revenue. The owner of Showtime Movie...Ch. 15.2 - NFL Winning Percentage. The National Football...Ch. 15.2 - Rating Computer Monitors. PC Magazine provided...Ch. 15.2 - Scoring Cruise Ships. The Condé Nast Traveler Gold...Ch. 15.2 - House Prices. Spring is a peak time for selling...Ch. 15.2 - Baseball Pitcher Performance. Major League...
Ch. 15.3 - In exercise 1, the following estimated regression...Ch. 15.3 - In exercise 2, 10 observations were provided for a...Ch. 15.3 - 13. In exercise 3, the following estimated...Ch. 15.3 - In exercise 4, the following estimated regression...Ch. 15.3 - Prob. 15ECh. 15.3 - 16. In exercise 6, data were given on the average...Ch. 15.3 - Quality of Fit in Predicting House Prices. Revisit...Ch. 15.3 - R2 in Predicting Baseball Pitcher Performance....Ch. 15.5 - In exercise 1, the following estimated regression...Ch. 15.5 - Refer to the data presented in exercise 2. The...Ch. 15.5 - The following estimated regression equation was...Ch. 15.5 - Testing Significance in Shoe Sales Prediction. In...Ch. 15.5 - Testing Significance in Theater Revenue. Refer to...Ch. 15.5 - Testing Significance in Predicting NFL Wins. The...Ch. 15.5 - Auto Resale Value. The Honda Accord was named the...Ch. 15.5 - Testing Significance in Baseball Pitcher...Ch. 15.6 - In exercise 1, the following estimated regression...Ch. 15.7 - Consider a regression study involving a dependent...Ch. 15.7 - Consider a regression study involving a dependent...Ch. 15.7 - 34. Management proposed the following regression...Ch. 15.7 - Repair Time. Refer to the Johnson Filtration...Ch. 15.7 - Extending Model for Repair Time. This problem is...Ch. 15.7 - Pricing Refrigerators. Best Buy, a nationwide...Ch. 15.9 - In Table 15.12 we provided estimates of the...Ch. 15 - 49. The admissions officer for Clearwater College...Ch. 15 - 50. The personnel director for Electronics...Ch. 15 - A partial computer output from a regression...Ch. 15 - Analyzing College Grade Point Average. Recall that...Ch. 15 - Analyzing Job Satisfaction. Recall that in...Ch. 15 - Analyzing Repeat Purchases. The Tire Rack,...Ch. 15 - Zoo Attendance. The Cincinnati Zoo and Botanical...Ch. 15 - Mutual Fund Returns. A portion of a data set...Ch. 15 - Gift Card Sales. For the holiday season of 2017,...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...
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