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You are given data on pizza sales for the most popular restaurant on campus: A friend of your said that the regression analysis that we
You are given data on pizza sales for the most popular restaurant on campus: A friend of your said that the regression analysis that we have learned so far in the course was only applicable to business and economic situations. But you know better and would like to show your friend that it can also model a complicated response function Year | sales (in thousands) for one of your physics classes. So you run a few different models: a quadratic model, a cubic model, and a quartic model (to the 4th 2008 20 power). The results from your three models are given below: 2009 24 2010 27 Model 1 (Overall F: 468.7254 p-value: 2.57E-31 ) 2011 26 Coefficients Standard Error t Stat P-value 2012 29 Intercept 93.1323 9.9828 9.3292 3.53E-12 2013 32 -2.8048 0.4266 3.98E-08 2014 31 X -6.5741 X2 0.0492 0.0042 11.6530 2.52E-15 Using your calculator, estimate an AR(1) model. Which best represents the estimated regression line? Model 2 (Overall F: 476.4517 p-value: 4.30E-34 ) Coefficients Standard Error t Stat P-value Intercept 2.8480 20.1657 0.1412 0.8883 X 3.8742 1.4082 2.7511 0.0085 Select one: X2 -0.0965 0.0299 -3.2211 0.0024 O a. y = 6.184 + 0.819x X3 0.0010 0.0002 4.8951 1.30E-05 O b. Model 3 (Overall F: 349.5267 p-value: 1.02E-32 ) Y = 6.184 + 0.819X + Coefficients Standard Error t Stat P-value Intercept -1.1274 37.6932 -0.0299 0.9763 O c. y = 11.605 + 0.629. X 4.2778 3.5194 1.2155 0.2307 X2 -0.1103 0.1144 -0.9637 0.3405 0.0012 0.7469 0.4591 od y = 11.605 + 0.629X + E X3 0.0016 X4 -9.5005E-07 7.58E-06 -0.1254 0.9008 be. 1 = 19.714 + 1.821x Is one of the models presented better than the others? Select one: O a. Model 1 is the best O b. Model 2 is the best O c. Model 3 is the best O d. None of the models should be used O e. All three models will give the same predicted values, so you are indifferent
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