EBK STATISTICS FOR MANAGEMENT AND ECONO
EBK STATISTICS FOR MANAGEMENT AND ECONO
10th Edition
ISBN: 8220102958609
Author: KELLER
Publisher: YUZU
Question
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Chapter 18, Problem 43CE

a:

To determine

Regression equation.

a:

Expert Solution
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Explanation of Solution

The general regression line can be derived as follows:

The intercept is denoted by IC and the coefficient is denoted by CE.

VariableDependent=IC+CEX1×X1+CEX2×X2+...+CEXn×Xn+Error        (1)

Mileage is determined by the speed. Substitute the respective value in Equation (1) to derive the regression equation.

Mileage^=β0+β1×speed+β2×Speed2+ε

b:

To determine

Regression process.

b:

Expert Solution
Check Mark

Explanation of Solution

The regression output is obtained using the statistical software. The result is as given below:

EBK STATISTICS FOR MANAGEMENT AND ECONO, Chapter 18, Problem 43CE

c:

To determine

Fitness of the model.

c:

Expert Solution
Check Mark

Explanation of Solution

The standard error is 3.86 and R2 is 0.7102. Thus, the model fits well.

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