Statistics for Business & Economics (with XLSTAT Education Edition Printed Access Card) (MindTap Course List)
13th Edition
ISBN: 9781305585317
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Question
Chapter 16.1, Problem 3E
a.
To determine
Decide whether there appears to be linear relationship between x and y.
b.
To determine
Construct the estimated regression equation that relates x and y.
c.
To determine
Plot the standardized residual versus the
Explain whether the model assumptions appear to be satisfied.
d.
To determine
Perform a logarithmic transformation on the variable y.
Construct the estimated regression equation using the transformed dependent variable.
Decide whether the model assumptions appear to be satisfied by using the transformed dependent variable.
Explain whether a reciprocal transformation works better in this case.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
please quickly thanks !!!!
3. Consider the following data for two variables, x and y.
3
4
5
7
7
7
8
9.
y
4
4
6 4
6 9
5
11
Does there appear to be a linear relationship between x and y? Explain.
b. Develop the estimated regression equation relating x and y.
Plot the standardized residuals versus ŷ for the estimated regression equation devel-
oped in part (b). Do the model assumptions appear to be satisfied? Explain.
d. Perform a logarithmic transformation on the dependent variable y. Develop an esti-
mated regression equation using the transformed dependent variable. Do the model
assumptions appear to be satisfied by using the transformed dependent variable?
Does a reciprocal transformation work better in this case? Explain.
а.
с.
Automobile racing, high-performance driving schools, and driver education programs run by automobile clubs continue to grow in popularity. All these activities require the
participant to wear a helmet that is certified by the Snell Memorial Foundation, a not-for-profit organization dedicated to research, education, testing, and development of
helmet safety standards. Snel| "SA" (Sports Application) rated professional helmets are designed for auto racing and provide extreme impact resistance and high fire
protection. One of the key factors in selecting a helmet is weight, since lower weight helmets tend to place less stress on the neck. The following data show the weight and
price for 18 SA helmets (SoloRacer website).
Helmet
Weight (oz)
Price ($)
Pyrotect Pro Airflow
64
241
Pyrotect Pro Airflow Graphics
64
276
RCi Full Face
64
202
RaceQuip RidgeLine
64
197
HJC AR-10
58
291
HJC Si-12
47
708
HJC HX-10
49
910
Impact Racing Super Sport
59
331
Zamp FSA-1
66
197
Zamp RZ-2
58
292
Zamp RZ-2…
Chapter 16 Solutions
Statistics for Business & Economics (with XLSTAT Education Edition Printed Access Card) (MindTap Course List)
Ch. 16.1 - Consider the following data for two variables, x...Ch. 16.1 - Consider the following data for two variables, x...Ch. 16.1 - Prob. 3ECh. 16.1 - A highway department is studying the relationship...Ch. 16.1 - In working further with the problem of exercise 4,...Ch. 16.1 - A study of emergency service facilities...Ch. 16.1 - In 2011, home prices and mortgage rates fell so...Ch. 16.1 - Corvette, Ferrari, and Jaguar produced a variety...Ch. 16.1 - Kiplingers Personal Finance Magazine rated 359...Ch. 16.2 - In a regression analysis involving 27...
Ch. 16.2 - In a regression analysis involving 30...Ch. 16.2 - The Ladies Professional Golfers Association (LPGA)...Ch. 16.2 - Refer to exercise 12. a. Develop an estimated...Ch. 16.2 - A 10-year study conducted by the American Heart...Ch. 16.2 - In baseball, an earned run is any run that the...Ch. 16.4 - A study provided data on variables that may be...Ch. 16.4 - Prob. 17ECh. 16.4 - Jeff Sagarin has been providing sports ratings for...Ch. 16.4 - Prob. 19ECh. 16.5 - Consider a completely randomized design involving...Ch. 16.5 - Prob. 21ECh. 16.5 - Prob. 22ECh. 16.5 - The Jacobs Chemical Company wants to estimate the...Ch. 16.5 - Four different paints are advertised as having the...Ch. 16.5 - An automobile dealer conducted a test to determine...Ch. 16.5 - A mail-order catalog firm designed a factorial...Ch. 16.6 - The following data show the daily closing prices...Ch. 16.6 - Refer to the Cravens data set in Table 16.5. In...Ch. 16 - A sample containing years to maturity and yield...Ch. 16 - Consumer Reports tested 19 different brands and...Ch. 16 - A study investigated the relationship between...Ch. 16 - Refer to the data in exercise 31. Consider a model...Ch. 16 - Refer to the data in exercise 31. a. Develop an...Ch. 16 - Prob. 34SECh. 16 - Rating Wines from the Piedmont Region of Italy...
Knowledge Booster
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
- XYZ Corporation Stock Prices The following table shows the average stock price, in dollars, of XYZ Corporation in the given month. Month Stock price January 2011 43.71 February 2011 44.22 March 2011 44.44 April 2011 45.17 May 2011 45.97 a. Find the equation of the regression line. Round the regression coefficients to three decimal places. b. Plot the data points and the regression line. c. Explain in practical terms the meaning of the slope of the regression line. d. Based on the trend of the regression line, what do you predict the stock price to be in January 2012? January 2013?arrow_forwardDemand for Candy Bars In this problem you will determine a linear demand equation that describes the demand for candy bars in your class. Survey your classmates to determine what price they would be willing to pay for a candy bar. Your survey form might look like the sample to the left. a Make a table of the number of respondents who answered yes at each price level. b Make a scatter plot of your data. c Find and graph the regression line y=mp+b, which gives the number of respondents y who would buy a candy bar if the price were p cents. This is the demand equation. Why is the slope m negative? d What is the p-intercept of the demand equation? What does this intercept tell you about pricing candy bars? Would you buy a candy bar from the vending machine in the hallway if the price is as indicated. Price Yes or No 50 75 1.00 1.25 1.50 1.75 2.00arrow_forwardA Dubious Model of Oil Prices The following table shows the prices of oil in U.S. dollars per barrel, t years since 1990, One analysis involving additional data used a cubic equation to model this data. t Years since 1990 0 2 5 7 10 12 15 17 20 21 P Price, dollars per barrel 18.91 16.22 16.63 18.20 27.04 23.47 49.63 69.04 77.46 106.92 a. Use cubic regression to model these data. Round the regression parameters to four decimal places. b. Plot the data along with the cubic model. c. In the analysis mentioned above, the graph is expanded through 2020. Expand the viewing window to show the model from 1990 to 2020. d. What estimate does the model give for oil prices in 2015? e. The actual price of oil in December of 2015 was about 35 per barrel. What basic principle in the use of models would be violated in relying on the estimate in part d?arrow_forward
- bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.arrow_forwardCable TV The following table shows the number C. in millions, of basic subscribers to cable TV in the indicated year These data are from the Statistical Abstract of the United States. Year 1975 1980 1985 1990 1995 2000 C 9.8 17.5 35.4 50.5 60.6 60.6 a. Use regression to find a logistic model for these data. b. By what annual percentage would you expect the number of cable subscribers to grow in the absence of limiting factors? c. The estimated number of subscribers in 2005 was 65.3million. What light does this shed on the model you found in part a?arrow_forwardDoes Table 1 represent a linear function? If so, finda linear equation that models the data.arrow_forward
- A doctor wanted to determine whether there is a relation between a male’s age and his HDL (so-called good cholesterol). He randomly selected 9 of his patients and determined their HDL cholesterol. The data is reported in the table below: a) Compute the regression equation for HDL as a function of age. b)Interpret the meaning of the regression parameters.arrow_forwardThe percentage of adults in the labor force ages 65 or older who are still working has risen since 1990. The table below shows the data from 1990 to 2007, Let x represent the number of years since 1990 a. Plot the data points. b. Find the linear regression equation of the line of best fit for the data. c. What does the slope of this line indicate in this situation? d. If the percentage continues to increase at the same rate, predict the percent of the labor force that is 65 years old or older in the year 2027. Year % of Labor Force 1990 11.6% 1995 12.2% 2000 12.9% 2005 14.2% 2007 15 6% a. Choose the correct plot below. O A. OB. OC. 1-5, 20, 1] by (8. 17. 1) [8. 17, 1) by (-5, 20, 1] [-5, 20, 1] by [8, 17, 1] Clear all Print View an example 659 Help me solve this A D E 11/13/ 57°F %23 O Type here to searcharrow_forwardb. What does the scatter diagram developed in part (a) indicate about the relationship between the two variables? The scatter diagram indicates a positive ✔✔✔ linear relationship between the hotel room rate and the amount spent on entertainment. c. Develop the least squares estimated regression equation. Entertainment = 18.2594 X + 1.0272 Room Rate (to 4 decimals) d. Provide an interpretation for the slope of the estimated regression equation (to 3 decimals). The slope of the estimated regression line is approximately 1.027 So, for every dollar increase ♥ e. The average room rate in Chicago is $128, considerably higher than the U.S. average. Predict the entertainment expense per day for Chicago (to whole number). $ 150 in the hotel room rate the amount spent on entertainment increases by $1.027arrow_forward
- The following data give the percentage of women working in five companies in the retail and trade industry. The percentage of management jobs held by women in each company is also shown. %Management 60 50 a. From the following select the appropriate scatter diagram for these data with the percentage of women working in the company as the independent variable. Scatter diagram a 40 -30 20 10 20 Scatter diagram b %Management -60 50 -40 30 20 10 20 Scatter diagram c -60 %Management 50 10 -40 30 20 10 10 30 10 20 30 40 5,0 Scatter diagram c 40 50 60 %Working 6,0% Working 3,0 4,0 50 60%Working % Working % Management 68 46 74 54 61 50 22 65 48 34arrow_forwardFor the provided data, develop a regression model for overall satisfaction as a function of years of service and department that has the largest R. Note that the categorical variable department has multiple levels and will require the use of multiple dummy variables. Which department, if any, has the highest impact on Maintenance satisfaction? E Click the icon to view the job satisfaction data. Job satisfaction data Determine the regression model for overall satisfaction as a function of years of se ht Production, let X, represent Quality Control, and let X, represent the correct choice below and fill in any answer boxes within your Work Tools and Work/Life Shipping / Receiving, coding each department variable with a 1 if the person is int 모 Satisfaction Years Ideas Communication Recognition Training Department Management Conditions Information Balance choice (Type integers or decimals rounded to three decimal places as needed.) Administrative 16 Production 16 2 5 O A. +( X+( x…arrow_forwardThe managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c. E Click the icon to view the monthly data. a. Develop a simple linear regression model between billable hours and overhead costs. Overhead Costs = 5304.4 + (0.0219) × Billable Hours +1 (Round the constant to one decimal place as needed. Round the coefficient to four decimal places as needed. Do not include the $ symbol in your answers.) Monthly overhead costs and billable hours data Overhead Costs Billable Hours O IT $385,000 3,000 $430,000 4,000 $460,000 5,000 $511,000 6,000 $580,000 7,000 $600,000 8,000 Print Donearrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Functions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage Learning
Algebra and Trigonometry (MindTap Course List)AlgebraISBN:9781305071742Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning
College AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
Functions and Change: A Modeling Approach to Coll...
Algebra
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:Cengage Learning
College Algebra
Algebra
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
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