Practical Operations Management
2nd Edition
ISBN: 9781939297136
Author: Simpson
Publisher: HERCHER PUBLISHING,INCORPORATED
expand_more
expand_more
format_list_bulleted
Question
Chapter 4, Problem 3DQ
Summary Introduction
Interpretation:Reasons of influence of independent variable over dependent variable due to high correlation between independent and dependent variable.
Concept Introduction:Correlation refers to the measurement that identifies the relationship between two variables indicating correlated or not and its value lies in between -1 and +1. Negative value signifies their correlation as antithetically correlated and positive value as both variables moving towards same direction and no correlation in between when value is zero.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
What is the distinction between a dependent variable and an independent variable?
If two variables are highly correlated, does this imply that changes in one cause changes in the other? If not, give at least one example from the real world that illustrates what else could cause a high correlation.
snip
Chapter 4 Solutions
Practical Operations Management
Ch. 4 - Prob. 1DQCh. 4 - Prob. 2DQCh. 4 - Prob. 3DQCh. 4 - Prob. 4DQCh. 4 - Prob. 1PCh. 4 - Prob. 2PCh. 4 - Prob. 3PCh. 4 - Prob. 4PCh. 4 - Prob. 5PCh. 4 - Prob. 6P
Ch. 4 - Prob. 7PCh. 4 - Prob. 8PCh. 4 - Prob. 9PCh. 4 - Prob. 10PCh. 4 - Prob. 11PCh. 4 - Prob. 12PCh. 4 - Prob. 13PCh. 4 - Prob. 14PCh. 4 - Prob. 15PCh. 4 - Prob. 16PCh. 4 - Prob. 17PCh. 4 - Prob. 18PCh. 4 - Prob. 19PCh. 4 - Prob. 20PCh. 4 - Prob. 21PCh. 4 - Prob. 22PCh. 4 - Prob. 23PCh. 4 - Prob. 24PCh. 4 - Prob. 25PCh. 4 - Prob. 26PCh. 4 - Prob. 27PCh. 4 - Prob. 28PCh. 4 - Prob. 29PCh. 4 - Prob. 30PCh. 4 - Prob. 31PCh. 4 - Prob. 32PCh. 4 - Prob. 1.1QCh. 4 - Prob. 1.2QCh. 4 - Prob. 1.3QCh. 4 - Prob. 1.4QCh. 4 - Prob. 2.1QCh. 4 - Prob. 2.2QCh. 4 - Prob. 2.3QCh. 4 - Prob. 2.4QCh. 4 - Prob. 3.1QCh. 4 - Prob. 3.2QCh. 4 - Prob. 3.3Q
Knowledge Booster
Similar questions
- The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?arrow_forwardIn comparison to causal techniques, what are the fundamental assumptions when utilizing predictive time series techniques?arrow_forwardDiscuss the differences between a causal model and a time-series model. Be sure to provide examples to illustrate your understanding of these concepts.arrow_forward
- what do the standardized regression weights or coefficients tell you about the ability of the predictors to predict the dependent variable?arrow_forwardExplain the kind of changes occur in the coefficient of a non variable while making changes in the orginal model ?arrow_forwardwhy we developed and history of half logistic distribution in probability? i need regarding help according to probability point of viewarrow_forward
- I need help explaining probability and non-probability sampling and describing the different types of each?arrow_forwardAn advertising executive claims that there is a difference in the mean household income for credit cardholders of Visa Gold and of MasterCard Gold. A random survey of 15 Visa Gold cardholders resulted in a mean household income of $68,420 with a standard deviation of $9100. A random survey of 6 MasterCard Gold cardholders resulted in a mean household income of $59,200 with a standard deviation of $9200. Is there enough evidence to support the executive's claim? Let μ1 be the true mean household income for Visa Gold cardholders and μ2 be the true mean household income for MasterCard Gold cardholders. Use a significance level of α=0.05 for the test. Assume that the population variances are not equal and that the two populations are normally distributed. Step 1 of 4: State the null and alternative hypotheses for the test. Step 2 of 4: Compute the value of the t test statistic. Round your answer to three decimal places. Step 3 of 4: Determine the decision rule for rejecting the…arrow_forwardMultiple regression analysis examines the linear relationship between a dependent variable (y) and two or more independent variables (x1, x2, and so on). True Falsearrow_forward
- Quarterly sales of a local department store over a 4-year period are given below: Quarters 2016 Q1 Sales (in millions) 500 Quarters 2018 Q1 Sales (in millions) 560 2016 Q2 490 580 2018 Q2 2018 Q3 2018 Q4 2019 Q1 2019 Q2 2016 Q3 570 630 2016 Q4 2017 Q1 2017 Q2 750 720 480 540 500 590 2017 Q3 580 2019 Q3 620 2017 Q4 740 2019 Q4 790 The data shows sign of seasonality. By computing seasonal indices for each quarter, forecast the sales for each quarter in year 2020, given that the estimated sales in 2020 isarrow_forwardPicturearrow_forwardMabbly Marketing conducted a study includes 200 sports enthusiast and obtained the following data: Sports College No College Preference Degree Degree NBA 40 55 NFL 10 95 What is the probability that a randomly selected survey participant prefers the NFL? 0.5880 0.5250 0.2000 0.6050arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,