Essentials of Business Analytics (MindTap Course List)
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN: 9781305627734
Author: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher: Cengage Learning
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Chapter 8, Problem 19P

Because of high tuition costs at state and private universities, enrollments at community colleges have increased dramatically in recent years. The following data show the enrollment for Jefferson Community College for the nine most recent years:

Chapter 8, Problem 19P, Because of high tuition costs at state and private universities, enrollments at community colleges

  1. a. Construct a time series plot. What type of pattern exists in the data?
  2. b. Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series.
  3. c. What is the forecast for year 10?
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The 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?
The Seneca Children’s Fund (SCC) is a local charity that runs a summer camp for disadvantagedchildren. The fund’s board of directors has been working very hard over recentyears to decrease the amount of overhead expenses, a major factor in how charities arerated by independent agencies. The following data show the percentage of the money SCChas raised that was spent on administrative and fund-raising expenses over the last sevenyears. a. Construct a time series plot. What type of pattern exists in the data?b. Use simple linear regression analysis to find the parameters for the line that minimizesMSE for this time series.c. Forecast the percentage of administrative expenses for year 8.d. If SCC can maintain its current trend in reducing administrative expenses, how longwill it take SCC to achieve a level of 5 percent or less?
A. Write the equation of the regression line. B. Interpret the slope in this context, and calculate the predicted birth weight of first borns and others C. Is there a statistically significant relationship between the average birth weight and parity? Provide an explanation with numeric support.

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Essentials of Business Analytics (MindTap Course List)

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