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Questions and Answers of Statistics

College basketball is big business, with coaches' salaries, revenues, and expenses in millions of dollars. The file College Basketball contains the coaches* salary and revenue for college basketball
A survey by the Pew Research Center found that social networking is popular in many nations around the world. The file Global Social Media contains the level of social media networking (measured as
In addition,
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
You used the sum-mated rating of a restaurant to predict the cost of a meal. The data are stored in Restaurants. For these data, SYX = 10.4413 and h1 = 0.046904 when X = 50.a. Construct a 95%
The marketing manager used shelf space for pet food to predict weekly sales. The data are stored in Pet food. For these data, SYX = 30.81 and h1 = 0.1373 when X = 8. a. Construct a 95% confidence
You used the plate gap on the bag-sealing equipment to predict the tear rating of a hag of coffee. The data are stored in Starbucks.a. Construct a 95% confidence interval estimate of the mean tear
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
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 estimate of the mean labor
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% confidence interval estimate of
You predicted the value of a baseball franchise, based on current revenue. The data are stored in BBRevenue2012.a. Construct a 95% confidence interval estimate of the mean value of all baseball
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 $75 million.a. What is the predicted DVD
What is the interpretation of the Y intercept and the slope in the simple linear regression equation? Discuss in detail.
Why should you always carry out a residual analysis as part of a regression model? Discuss.
Starbucks Coffee Co. uses a data-based approach to improving the quality and customer satisfaction of its products. When survey data indicated that Starbucks needed to improve its package-sealing
Can you use Twitter activity to forecast box office receipts on the opening weekend? The following data (stored in Twitter Movies) indicate the Twitter activity ("want to see") and the receipts ($)
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) and the
The director of graduate studies at a large college of business has the objective of predicting the grade point average (GPA) of students in an MBA program. The director begins by using the Graduate
An accountant for a large department store has the business objective of developing a model to predict the amount of time it takes to process invoices. Data are collected from the past 32 working
The value of a sports franchise is directly related to the amount of revenue that a franchise can generate. The file BBRevenue2012 represents the value in 2012 (in $millions) and the annual revenue
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.
A baseball analyst would like to study various team statistics for the 2011 baseball season to determine which variables might be useful in predicting the number of wins achieved by teams during the
Can you use the annual revenues generated by National Basketball Association (NBA) franchises to predict franchise values? Figure 2.14 on page 70 shows a scatter plot of revenue with franchise value,
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 soccer teams to
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 Sporting contains the monthly sales totals from a random sample of 38 stores in a large chain of
For the data of Problem 13.85, repeat (a) through (g), using Age as the independent variable.
For the data of Problem 13.85, repeat (a) through (g), using HS as the independent variable.
For the data of Problem 13.85, repeat (a) through (g), using College as the independent variable.
For the data of Problem 13.85, repeat (a) through (g), using Growth as the independent variable.
An agent for a residential real estate company in a large city has the business objective of developing more accurate estimates of the monthly rental cost for apartments. Toward that goal, the agent
The file 14 CEO-Compensation includes the total compensation (in $millions) for CEOs of 194 large public companies and the investment return in 2011. (Data extracted
The S&P 500 Index tracks the overall movement of the stock market by considering the stock prices of 500 large corporations. The file StockPrice2011 contains 2011 weekly data for the S&P 500
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
A Financial analyst engaged in business valuation obtained financial data on 71 drug companies (Industry Group SIC 3 code: 283). The file Business Combination contains the following
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 analysis resulted in the
You used horsepower and weight to predict mileage (stored in Auto212). Use the results from that problem to do the following:a. Determine whether there is a significant relationship between mileage
You used the total staff present and remote hours to predict standby hours (stored in Ware Cost). Using the results from that problem,a. Determine whether there is a significant relationship between
You used radio advertising and newspaper advertising to predict sales (stored in Standby). Using the results from that problem, a. determine whether there is a significant relationship between sales
You used the land area of a property and the age of a house to predict appraised value (stored in Glen Cove. Using the results from that problem,a. Determine whether there is a significant
You used sales and number of orders to predict distribution costs at a mail-order catalog business.a. Plot the residuals versus i.b. Plot the residuals versus X1i.c. Plot the residuals versus X2(.d.
In Problem 14.5 on page 530, you used horsepower and weight to predict mileage. a. Plot the residuals versus i. b. Plot the residuals versus X1i. c. Plot the residuals versus X2i. d. In the residual
For this problem, use the following multiple regression equation:a. Interpret the meaning of the slopes. b. Interpret the meaning of the V intercept
You used radio advertising and newspaper advertising to predict sales (stored in a. Perform a residual analysis on your results. b. If appropriate, perform the Durbin-Watson test, using α = 0.05. c.
You used the total staff present and remote hours to predict standby hours. a. Perform a residual analysis on your results. b. If appropriate, perform the Durbin-Watson test, using α = 0.05. c. Are
You used the land area of a property and the age of a house to predict appraised value. a. Perform a residual analysis on your results. b. If appropriate, perform the Durbin-Watson test, using α =
Use the following information from a multiple regression analysis:n = 25 b1 = 5 b2 = 10 Sb1 = 2 Sb2 = 8a. Which variable has the largest slope, in units of a t statistic?b. Construct a 95% confidence
Use the following information from a multiple regression analysis:n = 20 b1 = 4 b2 = 3 Sb1 = 1.2 Sb2 = 0.8a. Which variable has the largest slope, in units of a t statistic?b. Construct a 95%
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 (MIDSOLE) for a sample of 15 pairs of
You used sales and number of orders to predict distribution costs at a mail-order catalog business (stored in Ware Cost). Using the results from that problem,a. Construct a 95% confidence interval
You used horsepower and weight to predict mileage (stored in Auto2012). Using the results from that problem,a. Construct a 95% confidence interval estimate of the population slope between mileage and
You used radio advertising and newspaper advertising to predict sales (stored in Advertise). Using the results from that problem.a. Construct a 95% confidence interval estimate of the population
You used the tot number of staff present and remote hours to predict standby hours (stored in Standby). Using the results from that problem,a. Construct a 95% confidence interval estimate of the
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
You used land area of a property and age of a house to predict appraised value (stored in Glen Cove). Using the results from that problem.a. Construct a 95% confidence interval estimate of the
The following is the ANOVA summary table for a multiple regression model with two independent variables:a. determine whether there is a significant relationship between Y and each independent
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
You used horsepower and weight to predict mileage (stored in Auto2012). Using the results from that problem,a. At the 0.05 level of significance, determine whether each independent variable makes a
You used sales and number of orders to predict distribution costs at a mail-order catalog business (stored in Ware Cost). Using the results from that problem,a. At the 0.05 level of significance,
You used the total staff present and remote hours to predict standby hours (stored in Standby). Using the results from that problem.a. At the 0.05 level of significance, determine whether each
You used radio advertising and newspaper advertising to predict sales (stored in Advertise). Using the results from that problem.a. at the 0.05 level of significance, determine whether each
You used land area of a property and age of a house to predict appraised value (stored in Glen Cove). Using the results from that problem.a. At the 0.05 level of significance, determine whether each
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 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
The marketing manager of a large supermarket chain faced the business problem of determining the effect on the sales of specialty pet food of shelf space and whether the product was placed at the
In mining engineering, holes are often drilled through rock, using drill bits. As a drill hole gets deeper, additional rods are added to the drill bit to enable additional drilling to take place. It
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
You used sales and orders to predict distribution cost (stored in Ware cost). Develop a regression model to predict distribution cost that includes sales, orders, and the interaction of sales and
Zagat's publishes restaurant ratings for various locations in the United States. The file Restaurants contains the Zagat rating for food, decor, service, and cost per person for a sample of 50
You used radio advertising and newspaper advertising to predict sales (stored in Advertise). Develop a regression model to predict sales that includes radio advertising, newspaper advertising, and
Horsepower and weight were used to predict miles per gallon (stored in Auto2012). Develop a regression model that includes horsepower, weight, and the interaction of horsepower and weight to predict
You used total staff present and remote hours to predict standby hours (stored in Standby). Develop a regression model to predict standby hours that includes total staff present, remote hours, and
The director of a training program for a large insurance company has the business objective of determining which training method is best for training underwriters. The three methods to be evaluated
How do horsepower and weight affect the mileage of family cars? Data from a sample of 16 2012 family cars were collected, organized, and stored in Auto2012. (Data extracted from "Top 2012 Cars,"
Interpret the meaning of a slope coefficient equal to 2.2 in logistic regression. Discuss.
Given an estimated odds ratio of 2.5, compute the estimated probability of an event of interest.
Given an estimated odds ratio of 0.75, compute the estimated probability of an event of interest.
Consider the following logistic regression equation: In (Estimated odds ratio) = 0.1 + 0.5Z1i; + 0.2Z2i,a. Interpret the meaning of the logistic regression coefficients.b. If X1, = 2 and X2 = 1.5,
a. Predict the probability that a cardholder who charged $36,000 last year and does not have any additional credit cards for members of the household will purchase the platinum card during the
Undergraduate students at Miami University in Oxford, Ohio, were surveyed in order to evaluate the effect of price on the purchase of a pizza from Pizza Hut. The students were asked to suppose that
The director of graduate studies at a college of business wants to predict the success of students in an MBA program using two independent variables, undergraduate grade point average (GPA) and GMAT
A hotel has designed a new system for room service delivery of breakfast that allows the customer to select a specific delivery time. The difference between the actual and requested delivery times
What is the difference between r2 and adjusted r2? Discuss.
How does the interpretation of the regression coefficients differ in multiple regression and simple linear regression? Discuss in detail.
The business problem facing a consumer products company is to measure the effectiveness of different types of advertising media in the promotion of its products. Specifically, the company is
How does testing the significance of the entire multiple regression model differ from testing the contribution of each independent variable? Discuss.
How do the coefficients of partial determination differ from the coefficient of multiple determination? Discuss.
Increasing customer satisfaction typically results in increased purchase behavior. For many products, there is more than one measure of customer satisfaction. In many, purchase behavior can increase
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
Professional basketball has truly become a sport that generates interest among fans around the world. More and more players come from outside the United States to play in the National Basketball
A sample of 30 recently sold single-family houses in a small city is selected. Develop a model to predict the selling price (in $thousands), using the assessed value (in $thousands) as well as time
Measuring the height of a California redwood tree is very difficult because these trees grow to heights over 300 feet. People familiar with these trees understand that the height of a California
Develop a model to predict the assessed value of houses (in $thousands), using the size of the houses (in thousands of square feet) and the age of the houses (in years) from the following table
A baseball analytics specialist wants to determine which variables are important in predicting a team's wins in a given season. He has collected data related to wins, earned run average (ERA), and

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