Intro Stats
4th Edition
ISBN: 9780321825278
Author: Richard D. De Veaux, Paul F. Velleman, David E. Bock
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Videos
Textbook Question
Chapter 25, Problem 11E
Interpretations A regression performed to predict the selling price of houses found the equation
where Price is in dollars, Area is in square feet, Lotsize is in square feet, and Age is in years. The R2 is 92%. One of the interpretations below is correct. Which is it? Explain what’s wrong with the others.
- a) Each year a house Ages it is worth $6543 less.
- b) Every extra square foot of Area is associated with an additional $35.30 in average price, for houses with a given Lotsize and Age.
- c) Every dollar in price means Lotsize increases 0.718 square feet.
- d) This model fits 92% of the data points exactly.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Can you explain this statement below in layman's terms?
Secondary Analysis with Generalized Linear Mixed Model with clustering for Hospital Center and ICUvs Ward EnrolmentIn a secondary adjusted analysis we used generalized linear mixed models with random effects forcenter (a stratification variable in the primary analyses). In this analysis, the relative risk for the primaryoutcome of 90-day mortality for 7 versus 14 days of antibiotics was 0.90 (95% Confidence Interval [CI]0.78, 1.05).
In a crossover trial comparing a new drug to a standard, π denotes the probabilitythat the new one is judged better. It is desired to estimate π and test H0 : π = 0.5against H1 : π = 0.5. In 20 independent observations, the new drug is better eachtime.(a) Find and plot the likelihood function. Give the ML estimate of π (Hint: youmay use the plot function in R)
Can you explain what this analysis means in layman's terms?
- We calculated that a target sample size of 3626, which was based on anticipated baseline 90-day mortality of 22% and a noninferiority margin of no more than 4 percentage points, would give the trial 80% power, at a one-sided alpha level of 2.5%, accounting for a maximum of 5% loss to follow-up and for early stopping rules for three interim analyses.-
Chapter 25 Solutions
Intro Stats
Ch. 25.4 - Prob. 1JCCh. 25.4 - Prob. 2JCCh. 25.4 - Prob. 3JCCh. 25 - Prob. 1ECh. 25 - Candy sales A candy maker surveyed chocolate bars...Ch. 25 - Prob. 3ECh. 25 - Prob. 4ECh. 25 - Prob. 5ECh. 25 - Prob. 6ECh. 25 - Prob. 7E
Ch. 25 - 8. More movie profit tests From the regression...Ch. 25 - Prob. 9ECh. 25 - Prob. 10ECh. 25 - Interpretations A regression performed to predict...Ch. 25 - Prob. 12ECh. 25 - Prob. 13ECh. 25 - Prob. 14ECh. 25 - Prob. 15ECh. 25 - Prob. 16ECh. 25 - Prob. 17ECh. 25 - Prob. 18ECh. 25 - 19. Secretary performance The AFL-CIO has...Ch. 25 - GPA and SATs A large section of Stat 101 was asked...Ch. 25 - 21. Body fat, revisited The data set on body fat...Ch. 25 - Prob. 22ECh. 25 - Prob. 23ECh. 25 - Prob. 24ECh. 25 - 25. Fifty states Here is a data set on various...Ch. 25 - Prob. 26ECh. 25 - Prob. 27E
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
- Can you help me understand this analysis? A 95.7% confidence interval is shown for the intention-to-treat analysis (accounting for alpha spending in interim analyses), and 95% confidence intervals are shown for the other two analyses. The widths of the confidence intervals have not been adjusted for multiplicity. The dashed line indicates the noninferiority margin of 4 percentage points.arrow_forwardTitle: Analyzing Customer Satisfaction for UnileverAs a member of Unilever's Customer Experience Management team, you are responsible forevaluating customer satisfaction levels and monitoring competitive moves. This case studyinvolves analyzing satisfaction data to test two key hypotheses about Unilever's performancerelative to its main competitor, Procter & Gamble (P&G).Unilever’s leadership team has emphasized the importance of customer satisfaction inmaintaining competitive advantage and market leadership. As part of this initiative, yourteam regularly monitors satisfaction scores and benchmarks them against competitors likeP&G.You are tasked with analyzing the provided dataset to answer the following questions:1. Does Unilever’s average customer satisfaction score meet the minimum threshold of2. 75%?Is there no significant difference between Unilever’s overall average satisfaction scoreand P&G’s average satisfaction score?arrow_forwardNeed help answering wuestionarrow_forward
- The following table shows a data set containing information for 25 of the shadow stocks tracked by the American Association of Individual Investors (aaii.com, February 2002). Shadow stocks are common stocks of smaller companies that are not closely followed by Wall Street analysts. Click on the datafile logo to reference the data. DATA file Company DeWolfe Companies Exchange Ticker Symbol Market Cap ($ millions) Price/ Gross Profit Earnings Ratio Margin (%) AMEX DWL 36.4 8.4 36.7 North Coast Energy OTC NCEB 52.5 6.2 59.3 Hansen Natural Corp. OTC HANS 41.1 14.6 44.8 MarineMax, Inc. NYSE HZO 111.5 7.2 23.8 Nanometrics Incorporated OTC NANO 228.6 38.0 53.3 TeamStaff, Inc. OTC TSTF 92.1 33.5 4.1 Environmental Tectonics AMEX ETC 51.1 35.8 35.9 Measurement Specialties AMEX MSS 101.8 26.8 37.6 SEMCO Energy, Inc. NYSE SEN 193.4 18.7 23.6 Party City Corporation OTC PCTY 97.2 15.9 36.4 Embrex, Inc. OTC EMBX 136.5 18.9 59.5 Tech/Ops Sevcon, Inc. AMEX ΤΟ 23.2 20.7 35.7 ARCADIS NV OTC ARCAF 173.4…arrow_forwardThe following table shows a data set containing information for 25 of the shadow stocks tracked by the American Association of Individual Investors (aaii.com, February 2002). Shadow stocks are common stocks of smaller companies that are not closely followed by Wall Street analysts. Click on the datafile logo to reference the data. DATA file Company DeWolfe Companies Exchange AMEX Ticker Symbol Market Cap Price/ Gross Profit Earnings Margin ($ millions) Ratio (%) DWL 36.4 8.4 36.7 North Coast Energy OTC NCEB 52.5 6.2 59.3 Hansen Natural Corp. OTC HANS 41.1 14.6 44.8 MarineMax, Inc. NYSE HZO 111.5 7.2 23.8 Nanometrics Incorporated OTC NANO 228.6 38.0 53.3 TeamStaff, Inc. OTC TSTF 92.1 33.5 4.1 Environmental Tectonics AMEX ETC 51.1 35.8 35.9 Measurement Specialties AMEX MSS 101.8 26.8 37.6 SEMCO Energy, Inc. NYSE SEN 193.4 18.7 23.6 Party City Corporation OTC PCTY 97.2 15.9 36.4 Embrex, Inc. OTC EMBX 136.5 18.9 59.5 Tech/Ops Sevcon, Inc. AMEX ΤΟ 23.2 20.7 35.7 ARCADIS NV OTC ARCAF 173.4…arrow_forwardThe following data show the year to date percent change (YTD % Change) for 30 stock-market indexes from around the word (The Wall Street Journal, August 26, 2013). a. What index has the largest positive YTD % Change? Round your answer to once decimal place. index with a YTD % Change of % b. Using a class width of 5 beginning with -20 and going to 40, develop a frequency distribution for the data. YTD % Change Frequency -20 - -15 -15 - -10 -10 - -5 -5 - 0 0 - 5 5 - 10 10 - 15 15 - 20 20 - 25 30 - 35 c. 1. 2. 3. 4.arrow_forward
- The following data show the year to date percent change (YTD % Change) for 30 stock-market indexes from around the word (The Wall Street Journal, August 26, 2013). Click on the datafile logo to reference the data. DATA file Country Australia Index S&P/ASX200 YTD % Change 10.2 Belgium Bel-20 12.6 Brazil São Paulo Bovespa -14.4 Canada S&P/TSX Comp 2.6 Chile Santiago IPSA -16.3 China Shanghai Composite -9.3 Eurozone EURO Stoxx 10.0 France CAC 40 11.8 Germany DAX 10.6 Hong Kong Hang Seng -3.5 India S&P BSE Sensex -4.7 Israel Tel Aviv 1.3 Italy FTSE MIB 6.6 Japan Nikkei 31.4 Mexico IPC All-Share -6.4 Netherlands AEX 9.3 Singapore Straits Times -2.5 South Korea Kospi -6.4 Spain IBEX 35 6.4 Sweden Switzerland SX All Share 13.8 Swiss Market 17.4 Taiwan Weighted 2.3 U.K. FTSE 100 10.1 U.S. S&P 500 16.6 U.S. DJIA 14.5 U.S. Dow Jones Utility 6.6 U.S. Nasdaq 100 17.4 U.S. Nasdaq Composite 21.1 World DJ Global ex U.S. 4.2 World DJ Global Index 9.9 a. What index has the largest positive YTD %…arrow_forwardDescribe a three step process you choose to determine how many elementary schools there are in the city of 5 million people.arrow_forwardQuiz: Exam 1 (Ch 1-4) z Scores Table-3.pdf x + edu/courses/308627/quizzes/2442507/take/questions/48957332 Canvas Hall It browser 5 Connect Set as default incorrect. • This exam is NOT resumable. Meaning, once you start the exam, you must complete it in its entirety. Any blank questions will be marked as By taking this exam, you agree to adhere to the academic integrity standards, which consist of NOT cheating in any way. To get the highest possible score, you are encouraged to review your notes before taking the exam. You may use your notes during the exam, but note that you should be familiar with the concepts and formulas before taking exam. z Scores Table.pdf Question 3 3 pts Here is a data from a survey asking young children how many hours they spend playing video games. The researchers reported the percent of boys and girls who played no games, less than 1 hour per day, 1-3 hours per day, or greater than 3 hours per day. The most common number of hours per day that boys played is…arrow_forward
- Write a Regression summary explaining significance of mode, explaining regression coefficients, significance of the independent variables, R and R square. Premiums earned Net income Dividends Underwriting Gain/ Loss 30.2 1.6 0.6 0.1 47.2 0.6 0.7 -3.6 92.8 8.4 1.8 -1.5 95.4 7.6 2 -4 100.4 6.3 2.2 -8.1 104.9 6.3 2.4 -10.8 113.2 2.2 2.3 -18.2 130.3 3.0 2.4 -21.4 161.9 13.5 2.3 -12.8 182.5 14.9 2.9 -5.9 193.3 11.7 2.9 -7.6arrow_forward1- Let A = {A1, A2, ...), in which A, A, = 0, when i j. a) Is A a π-system? If not, which element(s) should be added to A to become a π-system? b) Prove that σ(A) consists of the finite or countable unions of elements of A; i.c., A E σ(A) if and only if there exists finite or countable sequence {n} such that A = U₁An (Hint: Let F be such class; prove that F is a σ-filed containing A.) c) Let p ≥ 0 be a sequence of non-negative real numbers with Σip₁ = 1. Using p₁'s, how do you construct a probability measure on σ(A)? (Hint: use extension theorem.) 2- Construct an example for which P(lim sup A,) = 1 and P(lim inf An) = 0.arrow_forwardIn a town with 5000 adults, a sample of 50 is selected using SRSWOR and asked their opinion of a proposed municipal project; 30 are found to favor it and 20 oppose it. If, in fact, the adults of the town were equally divided on the proposal, what would be the probability of observing what has been observed? Approximate using the Binomial distribution. Compare this with the exact probability which is 0.0418.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
College Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
College Algebra (MindTap Course List)
Algebra
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:Cengage Learning
Hypothesis Testing using Confidence Interval Approach; Author: BUM2413 Applied Statistics UMP;https://www.youtube.com/watch?v=Hq1l3e9pLyY;License: Standard YouTube License, CC-BY
Hypothesis Testing - Difference of Two Means - Student's -Distribution & Normal Distribution; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=UcZwyzwWU7o;License: Standard Youtube License