STATISTICS F/BUSINESS+ECONOMICS-TEXT
13th Edition
ISBN: 9781305881884
Author: Anderson
Publisher: CENGAGE L
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Chapter 20.2, Problem 4E
To determine
Find the weighted aggregated index for the R&B beverage sales in 2014, with 2011 as the base period.
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Spring is a peak time for selling houses. Suppose the data below contains the selling price, number of bathrooms, square footage, and number of bedrooms of 26 homes sold in Ft. Thomas, Kentucky, in spring 2018.
Selling Price Baths Sq Ft
Selling Price
160,000
170,000
178,000
182,500
195,100
212,500
245,900
250,000
255,000
258,000
267,000
268,000
275,000
1.5 1,786
2 1,768
1 1,219
1 1,578
1.5 1,125
2 1,196
2 2,128
N W
3
2
1,280
1,596
3.5 2,374
2.5 2,439
2 1,470
2 1,688
Beds
3
3
3
2
3
2
3
3
3
4
3
4
4
295,000
325,000
325,000
328,400
331,000
344,500
365,000
385,000
395,000
399,000
430,000
430,000
454,000
Baths Sq Ft
2.5 1,860
3 2,056
3.5 2,776
2
1,408
1.5 1,972
2.5 1,736
2.5 1,990
2.5 3,640
2.5 1,928
2 2,108
2
2,462
2 2,615
3.5 3,700
Beds
3
4
4
4
3
3
4
4
4
3
4
4
4
Consider the estimated regression equation we developed that can be used to predict the selling price given the number of bathrooms, square footage, and number of bedrooms in the house. (x, denotes number of bathrooms, x₂ denotes…
In 2011 home prices and mortgage rates dropped so low that in a number of cities the monthly cost of owning a home was less expensive than renting. The following data show the average asking rent for 10 markets and the monthly mortgage on the median priced home (including taxes and insurance) for 10 cities where the average monthly mortgage payment was less than the average asking rent (The Wall Street Journal, November 26–27, 2011).Click on the datafile logo to reference the data.
Enter negative values as negative numbers.
a. Develop the estimated regression equation that can be used to predict the monthly mortgage given the average asking rent (to 2 decimals).The regression equation is:Mortgage ($) = + Rent ($)
Here are annual revenue data in billions of dollars for the 10-year period 2008-2017 for two well-known retailers:
Amazon: 19.1; 24.5; 32.4; 48.1; 61.1; 74.5; 89.0; 107.9; 136.0; 177.9.
Walmart: 402.2; 406.1; 420.0; 445.0; 467.2; 474.5; 483.5; 480.0; 482.2; 496.8.
For each company, use linear extrapolation in Excel to forecast revenue in the year 2021. (Hint: Use either the
Trendline option or the Regression tool.)
Using the regression tool in Excel (with a constant term), in 2021, Amazon's stock price is forecasted to be $
and Walmart's is forecasted to be $ (Enter your responses rounded to two decimal places.)
Chapter 20 Solutions
STATISTICS F/BUSINESS+ECONOMICS-TEXT
Ch. 20.2 - The following table reports prices and usage...Ch. 20.2 - An item with a price relative of 132 cost 10.75 in...Ch. 20.2 - A large manufacturer purchases an identical...Ch. 20.2 - Prob. 4ECh. 20.2 - Under the last-in, first-out (LIFO) inventory...Ch. 20.3 - Price relatives for three items, along with...Ch. 20.3 - The Mitchell Chemical Company produces a special...Ch. 20.3 - Prob. 8ECh. 20.3 - Compute the price relatives for the RB Beverages...Ch. 20.5 - Registered nurses in 2007 made an average hourly...
Ch. 20.5 - The average hourly wage rate for construction...Ch. 20.5 - Shipments of product from manufacturer to the...Ch. 20.5 - The revenue for Google for the years 2010-2014 is...Ch. 20.7 - Data on quantities of three items sold in Year 1...Ch. 20.7 - Prob. 15ECh. 20.7 - Prob. 16ECh. 20 - Many factors influence the retail price of...Ch. 20 - Nickerson Manufacturing Company has the following...Ch. 20 - Prob. 19ECh. 20 - Prob. 20ECh. 20 - Prob. 21ECh. 20 - Prob. 22ECh. 20 - Seafood price and quantity data are reported by...Ch. 20 - Prob. 24ECh. 20 - Prob. 25ECh. 20 - Prob. 26E
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- Jane White has recorded the following sales figures for last year for herbusiness: January, $35,645; February, $35,456; March, $31,270; April,$32,129; May, $34,456; June, $35,256; July, $36,218; August, $35,456;September, $34,250; October, $32,156; November, $30,125; December,$32,275. She wants to select from one of three models: a 3-month movingaverage, a weighted moving average (she believes that the weightsshould be 0.2, 0.3, and 0.5), and an exponential smoothing average inwhich she uses an α of 0.2 and an assumed forecast for January of Year 1of $35,000.a. Construct a table that shows each of these forecasts for the current year andprovide the forecast for January of Year 2.b. Using the available data and your forecasts, which model do you suggest thatJane use for her business?arrow_forwardJohnson Wholesale Company manufactures a variety of products. The prices and quantities produced for April 2010 and April 2019 are: 2010 2019 2010 Quantity 2019 Quantity Product Price Price Produced Produced Small motor (each) $ 23.92 $ 28.29 1,413 4,234 Scrubbing compound (gallon) 2.32 3.70 86,827 62,984 Nails (pound) 0.19 0.86 9,332 22,336 Click here for the Excel Data FileUsing April 2010 as the base period, find the value index of goods produced for April 2019. (Round your answer to 2 decimal places.)arrow_forwardThe marketing manager of "ABC Tapes" wants to assess the competitiveness of the company's product in the market. Table 1 represents the prices and quantities of blank cassette tapes sold in January 2016 and January 2020. TABLE 1 2016 2020 Length of tapes Price Quantity Price Quantity 30 minutes R 4.00 32 R 5.60 40 60 minutes R 4 30 150 R 6.15 190 90 minutes R 4.60 100 R 7.40 130 Using 2016 as base and calculate for 2020 the following: Determine the Laspeyres price index: a) 149.492 Ob) 149.367 Oc) 66.949 d) 66.893arrow_forward
- Use the following price information for selected items for 2010 and 2018. Production figures for those two periods are also given. Price Quantity Item 2010 2018 2010 2018 Aluminum (cents per pound) $ 0.82 $ 0.86 1,000 1,200 Natural gas $ per million BLA 4.37 2.99 5,000 4,000 Petroleum (barrel) 71.21 58.15 60,000 60,000 Platinum (troy ounce) 1,743.60 1,292.53 500 600arrow_forwardUse the following price information for selected items for 2010 and 2018. Production figures for those two periods are also given. Price Quantity Item 2010 2018 2010 2018 Aluminum (cents per pound) $ 0.82 $ 0.86 1,000 1,200 Natural gas $ per million BLA 4.37 2.99 5,000 4,000 Petroleum (barrel) 71.21 58.15 60,000 60,000 Platinum (troy ounce) 1,743.60 1,292.53 500 600 Determine Fisher's ideal index for 2018 using 2010 as the base period. (Round your answer to 2 decimal places.)arrow_forwardMake sure to upload here the printscreen solution and interpretation before going to the next problem. Save file as pdf. Analysis using systemic sampling was done inside a production plant producing 15,000 cans of drinks a day. This was done to determine any glitch or problems in the 5-production line as presented in the table. The results showed how high the rate of efficiencies from the different batches. a. Determine whether there is significant difference among the batches. b. Which batch had a significance among the production? c. Are the samples homogeneous? d. Are the samples equal? c. Presenting the Q-Q plot, are the data normal? B1 B2 B3 В4 B5 98 98 90 97 95 95 98 97 94 90 90 95 90 97 96 95 95 95 90 96 90 93 98 95 94arrow_forward
- According to Zillow.com, the median sale price for homes in January for South Carolina, California, and Virginia over the last three years is given in the table below (measured in $100,000). able South Carolina California Virginia 2018 183 534 98 2019 193 555 94 2020 216 569 85 In South Carolina, realtors take 5.4% of the sale price on average as part of their commission. The average realtor commission rates in California and Virginia are 4.9% and 5.3%, respectively. Use matrix multiplication to find the total earned by realtors from their commissionsarrow_forwardSales of a particular product for the years 2017 through 2020 have been 46,850, 61,204, 51,632 and 78,068 respectively. What sales would you predict for 2021 using a simple four-year moving average?arrow_forwardBelow we list several variables. Which of these variables are quantitative, and which are qualitative?arrow_forward
- In 2012 the nominal value for household spending on clothing and shoes was equal to $5013m and in 2021 it was $7036m. Using the most appropriate price index from the list below, calculate the percentage change in real household spending on clothing and shoes from 2012 to 2021 and answers the questions below. 2012 2021CPI (Clothing) 961 1057CPI (All groups) 949 1068PPI (Outputs - Clothing and textiles) 1031 1171Import price index (Clothing and textiles) 1436 1306 The percentage change in nominal household spending on clothing and shoes is equal to ______?arrow_forwardPlease answer number 3 from a-c. Neglect the number 2 questions. Thanks.arrow_forwardListed in the table below are the selling prices, number of bedrooms, number of full baths, and above-ground square footage for 15 single-family residential homes that sold in Boulder, CO in January of 2011. 4 Sale Price # Bedrooms# Full baths $479,500 3 $394,100 3 $638,000 3 $745,900 $300,000 $1,366,600 $587,500 5 $399,000 3 $1,450,000 5 $275,200 2 $298,500 3 3 $1,269,000 $490,000 3 1026 4 3774 $1,700,000 5 2 $310,000 2 1760 Assuming the regression assumptions are met, perform the multiple regression of y = sale price on the set of predictor variables x₁ = number of bedrooms, x2 = number of full baths and x3 = above-ground square footage. Conduct the F test for the significance of overall regression and state your conclusion. Use a significance level of a = 0.05. 3 LO 5 1 1 2 2 1 3 2 1 2 1 1 3 Above-Ground Sq.Ft. 2 1222 1128 1204 4521 950 3536 1204 1070 5308 745 1026 2598 Select one: a. Since the p-value is approximately 0, there is evidence that a linear relationship exists between…arrow_forward
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