EBK STATISTICS FOR BUSINESS & ECONOMICS
12th Edition
ISBN: 8220100460463
Author: Anderson
Publisher: CENGAGE L
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Chapter 15.9, Problem 48E
The Tire Rack maintains an independent consumer survey to help drivers help each other by sharing their long-term tire experiences. The data contained in the file named TireRatings show survey results for 68 all-season tires. Performance traits are rated using the following 10-point scale.
| Superior | Excellent | Good | Fair | Unacceptable |
| 10 9 | 8 7 | 6 5 | 4 3 | 2 1 |
The values for the variable labeled Wet are the average of the ratings for each tire’s wet traction performance and the values for the variable labeled Noise are the average of the ratings for the noise level generated by each tire. Respondents were also asked whether they would buy the tire again using the following 10-point scale:
| Definitely | Probably | Possibly | Probably Not | Definitely Not |
| 10 9 | 8 7 | 6 5 | 4 3 | 2 1 |
The values for the variable labeled Buy Again are the average of the buy-again responses. For the purposes of this exercise, we created the following binary dependent variable:
Thus, if Purchase = 1, the respondent would probably or definitely buy the tire again.
- a. Write the logistic regression equation relating x1 = Wet performance rating and x2 = Noise performance rating to y = Purchase.
- b. Use Minitab to compute the estimated logit.
- c. Use the estimated logit to compute an estimate of the
probability that a customer will probably or definitely purchase a particular tire again with a Wet performance rating of 8 and a Noise performance rating of 8. - d. Suppose that the wet and Noise performance ratings were 7. How does that affect the probability that a customer will probably or definitely purchase a particular tire again with these performance ratings?
- e. If you were the CEO of a tire company, what do the results for parts (c) and (d) tell you?
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Chapter 15 Solutions
EBK 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 - In a regression analysis involving 30...Ch. 15.2 - A shoe store developed the following estimated...Ch. 15.2 - The owner of Showtime Movie Theaters, Inc., would...Ch. 15.2 - The National Football League (NFL) records a...Ch. 15.2 - PC World rated four component characteristics for...Ch. 15.2 - The Cond Nast Traveler Gold List provides ratings...Ch. 15.2 - Waterskiing and wakeboarding are two popular...Ch. 15.2 - Prob. 10E
Ch. 15.3 - In exercise 1, the following estimated regression...Ch. 15.3 - Prob. 12ECh. 15.3 - In exercise 3, the following estimated regression...Ch. 15.3 - In exercise 4, the following estimated regression...Ch. 15.3 - In exercise 5, the owner of Showtime Movie...Ch. 15.3 - In exercise 6, data were given on the average...Ch. 15.3 - Prob. 17ECh. 15.3 - Prob. 18ECh. 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 - In exercise 4, the following estimated regression...Ch. 15.5 - Prob. 23ECh. 15.5 - The Wall Street Journal conducted a study of...Ch. 15.5 - The Cond Nast Traveler Gold List for 2012 provided...Ch. 15.5 - In exercise 10, data showing the values of several...Ch. 15.6 - In exercise 1, the following estimated regression...Ch. 15.6 - Refer to the data in exercise 2. The estimated...Ch. 15.6 - In exercise 5, the owner of Showtime Movie...Ch. 15.6 - Prob. 30ECh. 15.6 - The American Association of Individual Investors...Ch. 15.7 - Consider a regression study involving a dependent...Ch. 15.7 - Consider a regression study involving a dependent...Ch. 15.7 - Management proposed the following regression model...Ch. 15.7 - Refer to the Johnson Filtration problem introduced...Ch. 15.7 - This problem is an extension of the situation...Ch. 15.7 - The Consumer Reports Restaurant Customer...Ch. 15.7 - A 10-year study conducted by the American Heart...Ch. 15.8 - Data for two variables, x and y, follow. xi 1 2 3...Ch. 15.8 - Data for two variables, x and y, follow. xi 22 24...Ch. 15.8 - Exercise 5 gave the following data on weekly gross...Ch. 15.8 - The following data show the curb weight,...Ch. 15.8 - Prob. 43ECh. 15.9 - Refer to the Simmons Stores example introduced in...Ch. 15.9 - In Table 15.12 we provided estimates of the...Ch. 15.9 - Community Bank would like to increase the number...Ch. 15.9 - Over the past few years the percentage of students...Ch. 15.9 - The Tire Rack maintains an independent consumer...Ch. 15 - The admissions officer for Clearwater College...Ch. 15 - The personnel director for Electronics Associates...Ch. 15 - A partial computer output from a regression...Ch. 15 - Recall that in exercise 49, the admissions officer...Ch. 15 - Recall that in exercise 50 the personnel director...Ch. 15 - The Tire Rack, Americas leading online distributor...Ch. 15 - The Department of Energy and the U.S....Ch. 15 - A portion of a data set containing information for...Ch. 15 - Fortune magazine publishes an annual list of the...Ch. 15 - Consumer Research, Inc., is an independent agency...Ch. 15 - Matt Kenseth won the 2012 Daytona 500, the most...Ch. 15 - Finding the Best Car Value When trying to decide...
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