This problem is based on Ch4, #14 in your textbook. Please see this problem on p. 365 for the explanation of the data. But answer the questions below, not the ones in the textbook. Parts (a)(b)(oc) here are similar to parts (a)(b)(c) in the textbook. So feel free to check your answers for those parts in the solution you have a) To see if knowing whether a company is traded on an organized exchange or over-the-counter is helpful in predicting the audit delay, develop a simple regression model to predict audit delay by the dummy variable Public. b) At the 0.05 level of significance, is there a significant relationship between audit delay and Public? (Give your answer in a sentence including your interpretation of the F-test result.) c) Develop the estimated regression equation using all of the independent variables included in the data d) How much of the variation in the sample values of delay does this estimated regression equation explain? e) At the 0.01 level of significance, is there a significant relationship between audit delay and the combined set of independent variables? (Carefully interpret the F-test result) f) Test the relationship between each independent variable and the dependent variable at the 0.05 level of significance. You will find one independent variable that is not significant. Which variable is this? g) Remove the nonsignificant variable and run a new regression. h) Give the resulting regression equation. Are all the independent variables significant now? Use the regression equation in (h) to answer the remaining questions i) Predict the audit delay for a public, industrial company whose quality rating is 3 and the "finished" rating is 4. (Hint: Remember you can ignore the given value for a variable that is not included in your regression equation. For example, if the variable "finished" was not significant so was not included in the regression, then its given value 4 will not be used in our calculation.) Express the answer rounded to the first decimal digit j) According to the regression from (e), is audit delay longer for an industrial company or a non-industrial company? By how many days? k) Suppose company A and B are both non-industrial and have the same "finished" rating, but A's quality 1DelayIndustryQualityFinished Public 62 45 54 71 91 62 61 69 80 52 47 65 60 81 16 73 89 71 76 20 68 68 22 86 76 24 67 57 26 55 54 69 4 0 0 10 0 12 13 17 18 19 0 21 23 25 27 28 00011000000100 31123242414321 35154245141455 92445919012625 897767789947 89012345678901 22333333333344