EBK STATISTICS FOR BUSINESS & ECONOMICS
13th Edition
ISBN: 8220101456380
Author: Anderson
Publisher: CENGAGE L
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Chapter 20.7, Problem 16E
To determine
Find the quantity relatives and develop a weighted aggregate quantity index for Year 8 using the two years of data.
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Below is a table containing data on product demand for the most recent three months along with the
forecasts that had been made for those three previous months. Calculate the MAPE.
Month Demand Forecast
1
308
310
388
390
344
342
2.
(b) Estimate the standard errors of the slope and intercept.
Round your answer to three decimal places (e.g. 98.765)
se B,
Round your answer to two decimal places (e.g. 98.76)
se(bo ) = I
(c) Test the hypothesis Ho: B1 = 10 versus H1:ß1 + 10using a = 0.01.
v Họ and conclude the slope
10 at a = 0.01.
(d) Test the hypothesis Ho: Bo = 0 versus H1: Bo # 0 using a = 0.01.
Họ and conclude that the intercept
v be included in the model.
(e) Test the hypothesis Ho : B1 = 10 versus H1 :ß, # 10 using a = 0.01.
Ho and conclude the slope
v 10 at a = 0.01.
(d) Test the hypothesis Ho : Bo = 0 versus H1 : Bo + 0 using a = 0.01.
Ho and conclude that the intercept
be included in the model.
Chapter 20 Solutions
EBK STATISTICS FOR BUSINESS & ECONOMICS
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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