Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN: 9781305506381
Author: James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher: Cengage Learning
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Chapter 7, Problem 1.3CE
To determine
To ascertain the percentage of the variation in output that is explained by regression equation.
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Numerical Answer Only Type Question
Enter the numerical value only for the correct answer in the blank box. If a decimal point appears, round it to two decimal places.
Assume that the number of visits by a particular customer to a mall located in downtown Toronto is related to the distance from the customer's home. The following regression analysis shows the relationship between the number of times a customer visits(Y)per month and the distance(X, measured in km) from the customer's home to the mall.
\[ Y=15-0.5 X \]
A customer who lives30 kmaway from the mall will visi______ who lives10 km away. less times than a customer
5.2
42
The following regression shows the impact of the number of rooms (ROOM) on the
monthly rent of an apartment (in thousand Rands) (RENT) from a sample of 42 randomly
chosen apartments in Parow:
Dependent Variable: RENT
Variable
C
ROOM
r-square: 0.7180
Parameter
-0.7705
2.1331
SE of regression: 2.3397
Std. Error
0.8233
0.2114
sample size = 42
What will be values of the parameters, variance and standard errors of the
parameters, estimated variance of error terms, coefficient of determination and
correlation coefficient, if RENT is measured in Rands and there is no change to
the unit of measurement of the ROOM variable?
18
Given that the sum of the squared deviations of EDUC is
9025.6
The standard error of the slope coefficient is ________.
a
0.1524
b
0.1249
c
0.1024
d
0.0839
Chapter 7 Solutions
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
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