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- The quadratic model for the given data is wrong.arrow_forwardMark Price, the new productions manager for Speakers and Company, needs to find out which variable most affects the demand for their line of company speakers. He is uncertain whether the unit price of the product or the effects of increased marketing are the main drivers in sales and wants to use regression analysis to figure out which factor drives more demand for its particular market. Pertinent information was collected by an extensive marketing project that lasted over the past 12 years and was reduced to the data that follow: YEAR 1 2 3 4 5 6 7 B 9 10 11 12 UNIT SALES (THOUSANDS) 398 698 898 y bar 1,304 1,163 1,195 898 1,200 982 1,235 875 811 PRICE $ PER UNIT 283 209 213 220 209 200 220 209 230 213 216 243 ADVERTISING ($000) 621 821 1,200 1,405 1,210 1,304 875 1,200 691 875 691 691 a. Perform a regression analysis based on these data using Excel. Note: Negative values should be indicated by a minus sign. Round your answers to 4 decimal places. Price advertisingarrow_forwardThe managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c Click the icon to view the monthly data. a. Develop a simple linear regression model between billable hours and overhead costs. Overhead Costs = 247733.3 +(43.2000) x Billable Hours (Round the constant to one decimal place as needed. Round the coefficient to four decimal places as needed. Do not include the $ symbol in your answers.) b. Interpret the coefficients of your regression model. Specifically, what does the fixed component of the model mean to the consulting firm? Interpret the fixed term, bo. if appropriate. Choose the correct answer below. OA. The value of by is the predicted overhead costs for 0 billable hours. OB. For each increase of 1 unit in overhead costs, the predicted billable hours are estimated to increase by bo OC. It is not appropriate to interpret by. because its value is the predicted…arrow_forward
- Predictor (Constant) Agea Age 20-22 Age 23-25 Femaleb Race/Ethnicity Black Hispanic/Latino Asian American Other Lifetime Drug Use Marijuana Powder Cocaine Ecstasy Opioids Amphetamine Exposure to Usersd R² TABLE 3 Linear Regression Model Results Comparing Predictors of Stigmatization toward Users of Each Drug Marijuana Stigmatization b 3.13*** -0.05 -0.09 0.02 0.12 0.00 0.04 0.16† -0.56*** -0.06 -0.07 -0.14† -0.05 -0.09*** 0.36 (SE) (0.08) (0.05) (0.07) (0.04) (0.07) (0.06) (0.06) (0.08) (0.05) (0.07) (0.08) (0.07) (0.07) (0.01) Powder Cocaine Stigmatization b 3.23*** -0.12+ -0.21* -0.01 0.05 -0.11 -0.01 0.14 -0.29*** -0.17 -0.11 -0.14 0.10 -0.06*** 0.18 (SE) (0.07) (0.05) (0.08) (0.05) (0.08) (0.07) (0.07) (0.10) (0.06) (0.09) (0.09) (0.08) (0.09) (0.01) Ecstasy Stigmatization b 3.14*** -0.11 -0.20* -0.01 0.05 -0.04 0.01 0.16 -0.36*** -0.12 -0.19+ -0.11 0.05 -0.05*** 0.16 (SE) (0.07) (0.05) (0.08) (0.05) (0.08) (0.07) (0.07) (0.10) (0.06) (0.09) (0.10) (0.09) (0.09) (0.01) Note;…arrow_forwardThe U.S. Postal Service is attempting to reduce the number of complaints made by the public against its workers. To facilitate this task, a staff analyst for the service regresses the number of complaints lodged against an employee last year on the hourly wage of the employee for the year. The analyst ran a simple linear regression in SPSS. The results are shown below. The current minimum wage is $5.15. If an employee earns the minimum wage, how many complaints can that employee expect to receive? Is the regression coefficient statistically significant? How can you tell?arrow_forwardA. Develop an estimated regression equation that can be used to predict the price of the stock based on the number of shares of company's stocks sold and the volume of exchange. B. Interpret the coefficients of the estimated regression equation that you found in Part a. C. If in a given day, the number of shares of the company that were sold was 94,500 and the volume of exchange on the New York Stock Exchange was 16 million, what would you expect the price of the stock to be?arrow_forward
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