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business
business statistics for contemporary

Questions and Answers of Business Statistics For Contemporary

A company wants to know how effective workshops provided to the employees are. At the end of each workshop, the employees are requested to evaluate it. To assess the impact of various factors on the
The manager of a catering business conducted a study on the amount of preparation time (in hours)needed based on the number of dishes to be prepared and the number of servings. She uses 10 previous
A study was conducted to assess the various factors considered in a health index. A random sample of 110 adults are selected and determined the following estimated model:yn = 5.025 - 1.793x1 -
[This exercise requires the material in the chapter appendix.]Suppose that the regression model y = b0 + b1x1 + b2x2 + e is estimated by least squares. Show that the residuals, ei, from the fitted
A dependent variable is regressed on two independent variables. It is possible that the hypotheses H0 : b1 = 0 and H0 : b2 = 0 cannot be rejected at low significance levels, yet the hypothesis H0 :
Based on your understanding of the relation among the SSR, SSE, and SST values in a regression analysis, justify the objective and the goodness-offit of a regression model analysis.
State whether each of the following statements is true or false.a. The purpose of constructing a multiple regression is to assess whether there is a significant difference between independent
In regression analysis, explain what information can be obtained from a regression table to help determine the regression equation and establish the relationship between the dependent and independent
Explain the method of least squares discussed in this chapter. Discuss the term of least squares in this context.
A company is evaluating its sales representatives’performance. The company uses multiple regression to develop a model and identify important variables that predict every employee’s
You are asked to develop a model to predict the change in the share of consumed energy stemming from renewable resources, using the data file Renewable Energy that contains the data for 26 European
You have been asked to develop a multiple regression model to predict the traffic fatality rate per 100 million miles in 2007. The data file Vehicle Travel State contains traffic data by state for
The following model was fitted to 47 monthly observations in an attempt to explain the difference between certificate of deposit rates and commercial paper rates:Y = b0 + b1X1 + b2X2 + e where Y =
A random sample of 93 freshmen at the University of Illinois was asked to rate, on a scale of 1 (low) to 10(high), their overall opinion of residence hall life. They were also asked to rate their
In order to assess the effect in one state of a casualty insurance company’s economic power on its political power, the following model was hypothesized and fitted to data from all 50 states:Y = b0
Consider a regression analysis with n = 49 and two potential independent variables. Suppose that one of the independent variables has a correlation of 0.56 with the dependent variable. Does this
Consider a regression analysis with n = 58 and four potential independent variables. Suppose that one of the independent variables has a correlation of 0.48 with the dependent variable. Does this
Consider a regression analysis with n = 34 and four potential independent variables. Suppose that one of the independent variables has a correlation of 0.23 with the dependent variable. Does this
Suppose that two independent variables are included as predictor variables in a multiple regression analysis.What can you expect will be the effect on the estimated slope coefficients when these two
You have been asked to develop a model to analyze salary in a large business organization.The data for this model are stored in the file named Salorg; the variable names are self-explanatory.a. Using
In a survey of 27 undergraduates at the University of Illinois the accompanying results were obtained with grade point averages (y), the number of hours per week spent studying 1x12, the average
A regression model was estimated to compare performance of students taking a business statistics course—either as a standard 14-week course or as an intensive 3-week course. The following model was
A consulting group offers courses in financial management for executives. At the end of these courses participants are asked to provide overall ratings of the value of the course. For a sample of 25
The following model was fitted to data on 34 states:where yn = annual salary of the attorney general of the state x1 = average annual salary of lawyers, in thousands of euros x2 = number of bills
A business school dean wanted to assess the importance of factors that might help in predicting success in law school. For a random sample of 50 students, data were obtained when students graduated
The following model was fitted to data on 32 insurance companies:yn = 7.62 - 0.16x1 + 1.23x2 R2 = 0.37 10.0082 10.4962 where yn = price-earnings ratio x1 = size of insurance company assets, in
The following model was fitted to explain the selling prices of automobiles in a sample of 106 sales:yn = -1,205 11.032+ 45.36 14802 x1 + 3,325 14862 x2 - 1,881 19492 x3 + 3,054 17382 x4+ 1,969 17382
The following model was fitted to observations from 1972 to 1979 in an attempt to explain oil-pricing behavior:yn = 37x1 + 5.22x2 10.0292 10.502 where yn = difference between price in the current
What are the model constant and the slope coefficient of x1 when the dummy variable equals 1 in the following equations, where x1 is a continuous variable and x2 is a dummy variable with a value of 0
What is the model constant when the dummy variable equals 1 in the following equations, where x1 is a continuous variable and x2 is a dummy variable with a value of 0 or 1?a. yn = 9 + 6x1 + 9x2b. yn
The data file German Imports shows German real imports (y), real private consumption 1x12, and real exchange rate 1x22, in terms of U.S. dollars per mark, over a period of 22 years.Estimate the model
Angelica Chandra, president of Benefits Research, Inc., has asked you to study the salary structure of her firm. Benefits Research provides consulting and management for employee health care and
Consider the following nonlinear model with multiplicative errors:Y = b0Xb1 1 Xb2 2 Xb3 3 Xb4 4 e b1 + b2 = 1 b3 + b4 = 1a. Show how you would obtain the coefficient estimates.Coefficient
You have been asked to develop an exponential production function—Cobb-Douglas form—that will predict the number of microprocessors produced by a manufacturer, Y, as a function of the units of
An agricultural economist believes that the amount of fish consumed (y) in tons in a year in the France depends on the price of fish 1x12 in euros per pound, the price of potatoes 1x22 in euros per
The following model was estimated for a sample of 322 supermarkets in large metropolitan areas(Macdonald and Nelson 1991):log1y2 = 2.921 + 0.680 log1x2 10.0772 R2 = 0.19 where y = store size x =
In a study of the determinants of household expenditures on vacation travel, data were obtained from a sample of 2,233 households (Hagermann 1981). The model estimated was log y = -4.035 + 1.1545
John Swanson, president of Market Research Inc., has asked you to estimate the coefficients of the model Y = b0 + b1X1 + b2X21 + b3X2 where Y is the expected sales of office supplies for a large
Describe an example from your experience in which a quadratic model would be better than a linear model.
Consider the following two equations estimated using the procedures developed in this section.i. yi = 3x1.2 ii. yi = 1 + 5xi - 1.5x2i Compute values of yi when xi = 1, 2, 4, 6, 8, 10.
Consider the following two equations estimated using the procedures developed in this section:i. yi = 3x1.2 ii. yi = 3 + 5xi + 1.9 x2i Compute values of yi when xi = 1, 2, 4, 6, 8, 10.
Consider the following two equations estimated using the procedures developed in this section:i. yi = 4x1.8 ii. yi = 1 + 2xi + 2x2i Compute values of yi when xi = 1, 2, 4, 6, 8, 10.
Consider the following two equations estimated using the procedures developed in this section:i. yi = 2x1.4 ii. yi = 2 + 6xi + 1.4x2i Compute values of yi when xi = 1, 2, 4, 6, 8, 10.
Transportation Research, Inc., has asked you to prepare a multiple regression equation to estimate the effect of variables on fuel economy. The data for this study are contained in the data file
A real estate agent hypothesizes that in her town the selling price of a house in dollars (y) depends on its size in square feet of floor space 1x12, the lot size in square feet 1x22, the number of
An aircraft company wanted to predict the number of worker-hours necessary to finish the design of a new plane. Relevant explanatory variables were thought to be the plane’s top speed, its weight,
The following model was fitted to a sample of 30 families in order to explain household milk consumption:y = b0 + b1x1 + b2x2 + e where y = milk consumption, in quarts per week x1 = weekly income, in
The following model was fitted to a sample of 25 athletes using data obtained at the end of a year. The aim was to explain atheletes’ weight gains:y = b0 + b1x1 + b2x2 + b3x3 + e where y = weight
Given the estimated multiple regression equation yn = 4.2 + 5.3x1 - 4.4x2 + 6.8x3 - 0.8x4 what is the predicted value of Y in each case?a. x1 = 10, x2 = 23, x3 = 9, and x4 = 12b. x1 = 23, x2 = 18, x3
Suppose that a dependent variable is related to K independent variables through a multiple regression model. Let R2 denote the coefficient of determination and R2, the corrected coefficient. Suppose
The following model was fitted to a sample of 28 families in order to explain household bread consumption:y = b0 + b1x1 + b2x2 + e where y = bread consumption, in loaves per week x1 = weekly income,
A dependent variable is regressed on K independent variables, using n sets of sample observations.We denote SSE as the error sum of squares and R2 as the coefficient of determination for this
The following model was fitted to a sample of 25 students using data obtained at the end of their freshman year in college. The aim was to explain students’weight gains:y = b0 + b1x1 + b2x2 + b3x3
The following model was fitted to a sample of 30 families in order to explain household milk consumption:y = b0 + b1x1 + b2x2 + e where y = milk consumption, in quarts per week x1 = weekly income, in
In a study of the influence of financial institutions on bond interest rates in Germany, quarterly data over a period of 12 years were analyzed. The postulated model was y = b0 + b1x1 + b2x2 + e
An aircraft company wanted to predict the number of worker-hours necessary to finish the design of a new plane. Relevant explanatory variables were thought to be the plane’s top speed, its weight,
Suppose that you have estimated coefficients for the following regression model:Y = b0 + b1X1 + b2X2 + b3X3 Test the hypothesis that all three of the predictor variables are equal to 0, given the
In a study of differences in levels of community demand for firefighters, the following sample regression was obtained, based on 46 towns in Bavaria, Germany:yn = -0.00178 - 0.00035x1 10.000102-
A study was conducted to determine whether certain features could be used to explain variability in the prices of furnaces. For a sample of 21 furnaces, the following regression was estimated:yn =
In a study of revenue generated by national lotteries, the following regression equation was fitted to data from 29 countries with lotteries:y = -31.323 + 0.4045x1 10.007552+ 0.8772x2 10.31072-
Refer to the data of Example 12.7 with the data file Citydatr.a. Find 95% and 99% confidence intervals for the expected change in the market price for houses resulting from a one-unit increase in the
Refer to the data of Example 12.6.a. Test, against a two-sided alternative, the null hypothesis that, all else being equal, median per capita personal income has no influence on the effective
The following model was fitted to a sample of 25 students using data obtained at the end of their freshman year in college. The aim was to explain students’ weight gains:y = b0 + b1x1 + b2x2 + b3x3
The following model was fitted to a sample of 30 families in order to explain household milk consumption:y = b0 + b1x1 + b2x2 + e where y = milk consumption, in quarts per week x1 = weekly income, in
The Norwegian architecture company, Inventas Design, wants to predict the number of worker-hours necessary to finish the design of a new building in Tromsø. Relevant explanatory variables were
The following are results from a regression model analysis:yn = -9.50 + 17.8x1 17.12+ 26.9x2 113.72- 9.2x3 13.82 R2 = 0.71 n = 39 The numbers in parentheses under the coefficients are the estimated
The following are results from a regression model analysis:yn = -3.54 + 7.4x1 14.22+ 3.2x2 10.72+ 10.1x3 113.22 R2 = 0.78 n = 41 The numbers in parentheses under the coefficients are the estimated
The following are results from a regression model analysis:yn = -3.54 + 7.4x1 11.82+ 3.2x2 11.42+ 10.1x3 14.32 R2 = 0.78 n = 41 The numbers below the coefficient estimates are the sample standard
The results from a regression model analysis are shown as follows:yn = -61.50 + 21.8x1 12.12+ 23.7x2 122.42- 15.4x3 132.42 R2 = 0.74 n = 25 The numbers below the coefficient estimates are the sample
Refer to the savings and loan association data given in Table 12.1.a. Estimate, by least squares, the regression of profit margin on number of offices.b. Estimate, by least squares, the regression of
The following model was fitted to a sample of 25 students using data obtained at the end of their freshman year in college. The aim was to explain students’weight gains:y = b0 + b1x1 + b2x2 + b3x3
The following model was fitted to a sample of 30 families in order to explain household milk consumption:y = b0 + b1x1 + b2x2 + e where y = milk consumption, in quarts per week x1 = weekly income, in
Inventas Design, an architecture company in Norway, wants to predict the number of worker-hours necessary to finish the design of a new building in Oslo.Relevant explanatory variables were thought to
A regression analysis has produced the following analysis of variance table:Analysis of Variance Source DF SS MS Regression 5 80,000 Residual error 200 15,000a. Compute se and s2e .b. Compute SST.c.
A regression analysis has produced the following analysis of variance table:Analysis of Variance Source DF SS MS Regression 4 40,000 Residual error 45 10,000a. Compute se and s2e.b. Compute SST.c.
A regression analysis has produced the following analysis of variance table:Analysis of Variance Source DF SS MS Regression 2 7,000 Residual error 29 2,500a. Compute se and s2e.b. Compute SST.c.
A regression analysis has produced the following analysis of variance table:Analysis of Variance Source DF SS MS Regression 8 200 Residual error 18 150a. Compute se and s2e.b. Compute SST.c. Compute
Transportation Research, Inc., has asked you to prepare some multiple regression equations to estimate the effect of variables on vehicle horsepower.The data for this study are contained in the data
Transportation Research, Inc., has asked you to prepare some multiple regression equations to estimate the effect of variables on fuel economy. The data for this study are contained in the data file
Amalgamated Power, Inc., has asked you to estimate a regression equation to determine the effect of various predictor variables on the demand for electricity sales. You will prepare a series of
Consider the following estimated linear regression equations:Y = a0 + a1X1 Y = b0 + b1X1 + b2X2a. Show in detail the coefficient estimators for a1 and b1 when the correlation between X1 and X2 is
Compute the coefficients b1 and b2 for the regression model yn i = b0 + b1x1i + b2x2i given the following summary statistics.a. rx1y = 0.80, rx2y = 0.30, rx1x2 = 0.90, sx1 = 500, sx2 = 400, sy =
The following model was fitted to a sample of 25 students using data obtained at the end of their freshman year in college. The aim was to explain students’weight gains:yi = b0 + b1x1i + b2x2i +
The following model was fitted to a sample of 30 families in order to explain household milk consumption:yi = b0 + b1x1i + b2x2i + ei where yi = milk consumption, in quarts per week x1i = weekly
In a study of the influence of financial institutions on bond interest rates in Germany, quarterly data over a period of 12 years were analyzed. The postulated model was yi = b0 + b1x1i + b2x2i + ei
An aircraft company wanted to predict the number of worker-hours necessary to finish the design of a new plane. Relevant explanatory variables were thought to be the plane’s top speed, its weight,
Given the following estimated linear model yn = 10 - 2x1 - 14x2 + 6x3a. What is the change in yn when x1 increases by 4?b. What is the change in yn when x3 decreases by 1?c. What is the change in yn
Given the following estimated linear model yn = 10 + 2x1 + 12x2 + 8x3a. What is the change in yn when x1 increases by 4?b. What is the change in yn when x3 increases by 1?c. What is the change in yn
Given the estimated linear model yn = 10 + 2x1 + 12x2 + 8x3a. Compute yn when x1 = 20, x2 = 11, x3 = 10.b. Compute yn when x1 = 15, x2 = 24, x3 = 20.c. Compute yn when x1 = 20, x2 = 19, x3 = 25.d.
Given the estimated linear model yn = 10 + 5x1 + 4x2 + 2x3a. Compute yn when x1 = 20, x2 = 11, and x3 = 10.b. Compute yn when x1 = 15, x2 = 14, and x3 = 20.c. Compute yn when x1 = 35, x2 = 19, and x3
Given the estimated linear model yn = 12 + 5x1 + 6x2 + 2x3a. Compute yn when x1 = 11, x2 = 24, and x3 = 27.b. Compute yn when x1 = 31, x2 = 20, and x3 = 17.c. Compute yn when x1 = 32, x2 = 29, and x3
In recent news commentaries, it has been argued that the quality of family life has decayed in recent years. Arguments include statements that families do not share meals together. Because of busy
In recent news commentaries, it has been argued that the quality of family life has decayed in recent years. Arguments include statements that families do not share meals together. Because of busy
A number of nutritionists have argued that fastfood restaurants have a negative effect on nutrition quality. In this exercise you are asked to determine if there is evidence to conclude that
A group of social workers who work with lowincome people have argued that the poverty income ratio is directly related to the quality of an individual person’s diet. That is, people with higher
There is a belief among many people that a healthy diet will cost more than a less healthy diet. Using research based on the available population survey data, can you conclude that a healthy diet
Another somewhat less natural candidate for an alternative predictor of happiness, but suggested in the first report, is the level of perceived absence of corruption. To find out its role,
A somewhat less natural candidate for an alternative predictor of happiness, but suggested in the first report, is the level of perceived political freedom.To find out its role, investigate the
A second natural candidate for an alternative predictor of happiness at the nation level, beyond healthy life expectancy, is the level of social support people experience. To find out its role,
A natural candidate for an predictor of happiness at the nation level is peoples’ healthy life expectancy. To find out its role, investigate the relationship between LogGDPperCapita and LifeLadder

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