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statistics

Questions and Answers of Statistics

Fitting a straight line to a set of data yields the following prediction line:a. Interpret the meaning of the Y intercept, b0. b. Interpret the meaning of the slope, b1. c. Predict the value of Y for
In Problem 13.8 on page 531, you used annual revenues to predict the value of a baseball franchise. Perform a residual analysis for these data (stored in BBRevenue). Based on these results, evaluate
In Problem 13.10 on page 532, you used box office gross to predict DVD revenue. Perform a residual analysis for these data (stored in Movie). Based on these results, evaluate whether the assumptions
The residuals for 10 consecutive time periods are as follows:a. Plot the residuals over time. What conclusion can you reach about the pattern of the residuals over time? b. Based on (a), what
The residuals for 15 consecutive time periods are as follows:a. Plot the residuals over time. What conclusion can you reach about the pattern of the residuals over time? b. Compute the Durbin-Watson
In Problem 13.4 on page 531 concerning pet food sales, the marketing manager used shelf space for pet food to predict weekly sales. a. Is it necessary to compute the Durbin-Watson statistic in this
What is the relationship between the price of crude oil and the price you pay at the pump for gasoline? The file Oil & gas contains the price ($) for a barrel of crude oil (Cushing, Oklahoma spot
A mail-order catalog business that sells personal computer supplies, software, and hardware maintains a centralized warehouse for the distribution of products ordered. Management is currently
A freshly brewed shot of espresso has three distinct components: the heart, body, and crema. The separation of these three components typically lasts only 10 to 20 seconds. To use the espresso shot
The owner of a chain of ice cream stores has the business objective of improving the forecast of daily sales so that staffing shortages can be minimized during the summer season. The owner has
You are testing the null hypothesis that there is no linear relationship between two variables, X and Y. From your sample of n = 10, you determine that r = 0.80.a. What is the value of the t test
The marketing manager of a large supermarket chain would like to use shelf space to predict the sales of pet food. A random sample of 12 equal-sized stores is selected, with the following results
You are testing the null hypothesis that there is no linear relationship between two variables, X and Y. From your sample of n = 18, you determine that b1 = +4.5 and Sb1 = 1.5.a. What is the value of
You are testing the null hypothesis that there is no linear relationship between two variables, X and Y. From your sample of n = 20, you determine that SSR = 60 and SSE = 40.a. What is the value of
In Problem 13.4 on page 531, the marketing manager used shelf space for pet food to predict weekly sales. The data are stored in Petfood. From the results of that problem, b1 = 7.4 and Sb1 = 1.59.a.
In Problem 13.5 on page 531, you used the summated rating of a restaurant to predict the cost of a meal. The data are stored in Restaurent. Using the results of that problem, b1 = 1.2409 and Sb1 =
In Problem 13.6 on page 531, the owner of a moving company wanted to predict labor hours, based on the number of cubic feet moved. The data are stored in Moving. Use the results of that problem.a. At
In Problem 13.7 on page 531, you used the number of customers to predict the waiting time on the checkout line. The data are stored in Supermarket. Use the results of that problem.a. At the 0.05
In Problem 13.8 on page 531, you used annual revenues to predict the value of a baseball franchise. The data are stored in BBRevenue. Use the results of that problem.a. At the 0.05 level of
In Problem 13.9 on page 532, an agent for a real estate company wanted to predict the monthly rent for apartments, based on the size of the apartment. The data are stored in Rent. Use the results of
In Problem 13.10 on page 532, you used box office gross to predict DVD revenue. The data are stored in Movie. Use the results of that problem. a. At the 0.05 level of significance, is there evidence
The volatility of a stock is often measured by its beta value. You can estimate the beta value of a stock by developing a simple linear regression model, using the percentage weekly change in the
Zagat's publishes restaurant ratings for various locations in the United States. The file Restaurants contains the Zagat rating for food, décor, service, and the cost per person for a sample of 100
Index funds are mutual funds that try to mimic the movement of leading indexes, such as the S&P 500 or the Russell 2000. The beta values (as described in Problem 13.49) for these funds are therefore
The file Cereals contains the calories and sugar, in grams, in one serving of seven breakfast cereals:a. Compute and interpret the coefficient of correlation, r. b. At the 0.05 level of significance,
Movie companies need to predict the gross receipts of an individual movie once the movie has debuted. The following results (stored in PotterMovies) are the first weekend gross, the U.S. gross, and
College basketball is big business, with coaches' salaries, revenues, and expenses in millions of dollars. The file contains the coaches' salary and revenue for college basketball at 60 of the 65
College football players trying out for the NFL are given the Wonderlic standardized intelligence test. The file Wonderlic lists the average Wonderlic scores of football players trying out for the
Based on a sample of n = 20, the least-squares method was used to develop the following prediction line:t = 5 + 3Xt,In addition,a. Construct a 95% confidence interval estimate of the population mean
Based on a sample of n = 20, the least-squares method was used to develop the following prediction line:In addition,a. Construct a 95% confidence interval estimate of the population mean response for
In Problem 13.5 on page 531, you used the summated rating of a restaurant to predict the cost of a meal. The data are stored in Restaurants. For these data, SYX = 9.5505 and ht = 0.026844 when X =
In Problem 13.4 on page 531, the marketing manager used shelf space for pet food to predict weekly sales. The data are stored in Petfood. For these data, SYX = 30.81 and ht = 0.1373 when X = 8.a.
In Problem 13.7 on page 531, you used the total number of customers in the store to predict the waiting time at the checkout counter. The data are stored in Supermarket. a. Construct a 95% confidence
The owner of a moving company typically has his most experienced manager predict the total number of labor hours that will be required to complete an upcoming move. This approach has proved useful in
In Problem 13.6 on page 531, the owner of a moving company wanted to predict labor hours based on the number of cubic feet moved. The data are stored in Moving. a. Construct a 95% confidence interval
In Problem 13.9 on page 532, an agent for a real estate company wanted to predict the monthly rent for apartments, based on the size of an apartment. The data are stored in Rent. a. Construct a 95%
In Problem 13.8 on page 531, you predicted the value of a baseball franchise, based on current revenue. The data are stored in BBRevenue. a. Construct a 95% confidence interval estimate of the mean
In Problem 13.10 on page 532, you used box office gross to predict DVD revenue. The data are stored in Movie. The company is about to release a movie on DVD that had a box office gross of $75
What is the interpretation of the Y intercept and the slope in the simple linear regression equation? Discuss.
When is the unexplained variation (i.e., error sum of squares) equal to 0?
When is the explained variation (i.e., regression sum of squares) equal to 0?
Why should you always carry out a residual analysis as part of a regression model?
A critically important aspect of customer service in a supermarket is the waiting time at the checkout (defined as the time the customer enters the line until he or she is served). Data were
How do you evaluate the assumptions of regression analysis? Discuss.
Researchers from the Pace University Lubin School of Business conducted a study on Internet-supported courses. In one part of the study, four numerical variables were collected on 108 students in an
Management of a soft-drink bottling company has the business objective of developing a method for allocating delivery costs to customers. Although one cost clearly relates to travel time within a
Measuring the height of a California redwood tree is a very difficult undertaking because these trees grow to heights of over 300 feet. People familiar with these trees understand that the height of
You want to develop a model to predict the selling price of homes based on assessed value. A sample of 30 recently sold single-family houses in a small city is selected to study the relationship
You want to develop a model to predict the assessed value of houses, based on heating area. A sample of 15 single-family houses in a city is selected. The assessed value (in thousands of dollars) and
The director of graduate studies at a large college of business would like to predict the grade point average (GPA) of students in an MBA program based on Graduate Management Admission Test (GMAT)
An accountant for a large department store would like to develop a model to predict the amount of time it takes to process invoices. Data are collected from the past 32 working days, and the number
The value of a sports franchise is directly related to the amount of revenue that a franchise can generate. The file BBRevenue represents the value in 2010 (in millions of dollars) and the annual
On January 28, 1986, the space shuttle Challenger exploded, and seven astronauts were killed. Prior to the launch, the predicted atmospheric temperature was for freezing weather at the launch site.
Crazy Dave, a well-known baseball analyst, would like to study various team statistics for the 2009 baseball season to determine which variables might be useful in predicting the number of wins
Can you use the annual revenues generated by National Basketball Association (NBA) franchises to predict franchise values? Figure 2.15 on page 57 shows a scatter plot of revenue with franchise value,
In Problem 13.82 you used annual revenue to develop a model to predict the franchise value of National Basketball Association (NBA) teams. Can you also use the annual revenues generated by European
During the fall harvest season in the United States, pumpkins are sold in large quantities at farm stands. Often, instead of weighing the pumpkins prior to sale, the farm stand operator will just
Can demographic information be helpful in predicting sales at sporting goods stores? The file contains the monthly sales totals from a random sample of 38 stores in a large chain of nationwide
For the data of Problem 13.85, repeat (a) through (g), using Age as the independent variable.In problem 13.85a. Construct a scatter plot, using sales as the dependent variable and median family
For the data of Problem 13.85, repeat (a) through (g), using HS as the independent variable.In problema. Construct a scatter plot, using sales as the dependent variable and median family income as
For the data of Problem 13.85, repeat (a) through (g), using College as the independent variable.In problema. Construct a scatter plot, using sales as the dependent variable and median family income
For the data of Problem 13.85, repeat (a) through (g), using Growth as the independent variable.In problema. Construct a scatter plot, using sales as the dependent variable and median family income
An agent for a residential real estate company in a large city would like to be able to predict the monthly rental cost for apartments, based on the size of an apartment, as defined by square
The file includes the total compensation (in $) of CEOs of 197 large public companies and their investment return in 2009.a. Compute the correlation coefficient between compensation and the
Refer to the discussion of beta values and market models in Problem 13.49 on page 553. The S&P 500 Index tracks the overall movement of the stock market by considering the stock prices of 500 large
For this problem, use the following multiple regression equation:a. Interpret the meaning of the slopes. b. Interpret the meaning of the Y intercept.
The following ANOVA summary table is for a multiple regression model with two independent variables:a. Determine the regression mean square (MSR) and the mean square error (MSE). b. Compute the
Eileen M. VanAken and Brian M. Kleiner, professors at Virginia Polytechnic Institute and State University, investigated the factors that contribute to the effectiveness of teams. (Data extracted from
In Problem 14.3 on page 582, you predicted the durability of a brand of running shoe, based on the forefoot shock-absorbing capability and the change in impact properties over time. The regression
In Problem 14.5 on page 583, you used horsepower and weight to predict mileage (stored in Auto2010). Using the results from that problem, a. Determine whether there is a significant relationship
In Problem 14.4 on page 583, you used sales and number of orders to predict distribution costs at a mail-order catalog business (stored in WareCost). Use the results from that problem.a. Determine
In Problem 14.7 on page 584, you used the total staff present and remote hours to predict standby hours (stored in Standby). Use the results from that problem.a. Determine whether there is a
In Problem 14.6 on page 583, you used radio advertising and newspaper advertising to predict sales (stored in Advertise). Use the results from that problem.a. Determine whether there is a significant
In Problem 14.8 on page 584, you used the land area of a property and the age of a house to predict appraised value (stored in GlenCove). Use the results from that problem.a. Determine whether there
In Problem 14.4 on page 583, you used sales and number of orders to predict distribution costs at a mail-order catalog business (stored in WareCost).a. Plot the residuals versus t b. Plot the
In Problem 14.5 on page 583, you used horsepower and weight to predict mileage (stored in Auto2010). a. Plot the residuals versus b. Plot the residuals versus X1t. c. Plot the residuals versus
For this problem, use the following multiple regression equation:a. Interpret the meaning of the slopes. b. Interpret the meaning of the Y intercept.
In Problem 14.6 on page 583, you used radio advertising and newspaper advertising to predict sales (stored in Advertise). a. Perform a residual analysis on your results. b. If appropriate, perform
In Problem 14.7 on page 584, you used the total staff present and remote hours to predict standby hours (stored in Standby). a. Perform a residual analysis on your results. b. If appropriate, perform
In Problem 14.8 on page 584, you used the land area of a property and the age of a house to predict appraised value (stored in GlenCove). a. Perform a residual analysis on your results. b. If
Use the following information from a multiple regression analysis:n = 25 b1 = 5 b2 = 10 Sb1 = 2 Sb2 = 81. Which variable has the largest slope, in units of a t statistic?2. Construct a 95% confidence
Use the following information from a multiple regression analysis:n = 20 b1 = 4 b2 = 3 Sb1 = 1.2 Sb2 = 0.8i. Which variable has the largest slope, in units of a t statistic?ii. Construct a 95%
In Problem 14.3 on page 582, you predicted the durability of a brand of running shoe, based on the forefoot shock-absorbing capability (FOREIMP) and the change in impact properties over time
In Problem 14.4 on page 583, you used sales and number of orders to predict distribution costs at a mail-order catalog business (stored in WareCost). Use the results from that problem. a. Construct a
In Problem 14.5 on page 583, you used horsepower and weight to predict mileage (stored in Auto2010). Use the results from that problem. a. Construct a 95% confidence interval estimate of the
In Problem 14.6 on page 583, you used radio advertising and newspaper advertising to predict sales (stored in Advertise). Use the results from that problem. a. Construct a 95% confidence interval
In Problem 14.7 on page 584, you used the total number of staff present and remote hours to predict standby hours (stored in Standby). Use the results from that problem. a. Construct a 95% confidence
A shoe manufacturer is considering developing a new brand of running shoes. The business problem facing the marketing analyst is to determine which variables should be used to predict durability
In Problem 14.8 on page 584, you used land area of a property and age of a house to predict appraised value (stored in GlenCove). Use the results from that problem. a. Construct a 95% confidence
The following is the ANOVA summary table for a multiple regression model with two independent variables:If and SSR (X1) = 45 and SSR(X2) = 25,a. Determine whether there is a significant relationship
The following is the ANOVA summary table for a multiple regression model with two independent variables:If SSR(X1) = 20 and SSR(X2) = 15, a. Determine whether there is a significant relationship
In Problem 14.5 on page 583, you used horsepower and weight to predict mileage (stored in ). Use the results from that problem.a. At the 0.05 level of significance, determine whether each independent
In Problem 14.4 on page 583, you used sales and number of orders to predict distribution costs at a mail-order catalog business (stored in WareCost). Use the results from that problem.a. At the 0.05
In Problem 14.7 on page 584, you used the total staff present and remote hours to predict standby hours (stored in Standby). Use the results from that problem.a. At the 0.05 level of significance,
In Problem 14.6 on page 583, you used radio advertising and newspaper advertising to predict sales (stored in Advertise). Use the results from that problem. a. At the 0.05 level of significance,
In Problem 14.8 on page 584, you used land area of a property and age of a house to predict appraised value (stored in GlenCove). Use the results from that problem. a. At the 0.05 level of
Suppose X1 is a numerical variable and X2 is a dummy variable and the regression equation for a sample of n = 20 isa. Interpret the regression coefficient associated with variable X1.b. Interpret the
The chair of the accounting department plans to develop a regression model to predict the grade point average in accounting for those students who are graduating and have completed the accounting
A mail-order catalog business selling personal computer supplies, software, and hardware maintains a centralized warehouse. Management is currently examining the process of distribution from the
A real estate association in a suburban community would like to study the relationship between the size of a single-family house (as measured by the number of rooms) and the selling price of the

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