Statistics for Business & Economics, Revised (with XLSTAT Education Edition Printed Access Card)
13th Edition
ISBN: 9781337094160
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
Textbook Question
Chapter 16.2, Problem 13E
Refer to exercise 12.
- a. Develop an estimated regression equation that can be used to predict the total earnings for all
events given the average number of putts taken on greens hit in regulation. - b. Develop an estimated regression equation that can be used to predict the total earnings for all events given the average number of putts taken on greens hit in regulation, the percentage of time a player is able to hit the greens in regulation, and the percentage of times a player’s tee shot comes to rest in the fairway.
- c. At the .05 level of significance, test whether the two independent variables added in part (b), the percentage of time a player is able to hit the greens in regulation and the percentage of times a player’s tee shot comes to rest in the fairway, contribute significantly to the estimated regression equation developed in part (a). Explain.
- d. In general, lower scores should lead to higher earnings. To investigate this option for predicting total earnings, develop an estimated regression equation that can be used to predict total earnings for all events given the average score for all events. Would you prefer to use this equation to predict total earnings, or would you prefer to use the estimated regression equation developed in part (b)? Explain.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
The regression equation is intended to be the “best fitting” straight line for a set of data.
What is the criterion for “best fitting”?
A marketing consultant created a linear regression model to predict the number of units sold by a client based on the amount of money spent on marketing by the client. Which of the following is the best
graphic to use to evaluate the appropriateness of the model?
Use the Financial database from “Excel Databases.xls” on Blackboard. Use Total Revenues, Total Assets, Return on Equity, Earnings Per Share, Average Yield, and Dividends Per Share to predict the average P/E ratio for a company. Use Excel to develop the multiple linear regression model. Assume a 5% level of significance.
Which independent variable is the strongest predictor of the average P/E ratio of a company?
A. Total Revenues
B. Average Yield
C. Earnings Per Share
D.Return on Equity
E. Total Assets
F.Dividends Per Share
Company
Type
Total Revenues
Total Assets
Return on Equity
Earnings per Share
Average Yield
Dividends per Share
Average P/E Ratio
AFLAC
6
7251
29454
17.1
2.08
0.9
0.22
11.5
Albertson's
4
14690
5219
21.4
2.08
1.6
0.63
19
Allstate
6
20106
80918
20.1
3.56
1
0.36
10.6
Amerada Hess
7
8340
7935
0.2
0.08
1.1
0.6
698.3
American General
6
3362
80620
7.1
2.19
3
1.4
21.2
American Stores
4
19139
8536
12.2
1.01
1.4
0.34
23.5
Amoco
7
36287…
Chapter 16 Solutions
Statistics for Business & Economics, Revised (with XLSTAT Education Edition Printed Access Card)
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
- Does Table 2 represent a linear function? If so, finda linear equation that models the data.arrow_forwardFind the equation of the regression line for the following data set. x 1 2 3 y 0 3 4arrow_forwardFind the mean hourly cost when the cell phone described above is used for 240 minutes.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
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
Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
Trigonometry (MindTap Course List)TrigonometryISBN:9781337278461Author:Ron LarsonPublisher: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
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Trigonometry (MindTap Course List)
Trigonometry
ISBN:9781337278461
Author:Ron Larson
Publisher:Cengage Learning
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