Study the following analysis of variance table which was generated from a simple regression analysis. Discuss the F test of the overall model. Determine the value of t and test the slope of the regression line.
> The U.S. Bureau of Mines produces data on the price of minerals. Shown here are the average prices per year for several minerals over a decade. Use these data and multiple regression to produce a model to predict the average price of gold from the other
> Given here are the data for a dependent variable, y, and independent variables. Use these data to develop a regression model to predict y. Discuss the output.
> Use the following data to develop a multiple regression model to predict y from x1 and x2. Discuss the output, including comments about the overall strength of the model, the significance of the regression coefficients, and other indicators of model fit.
> Study the Excel regression output that follows. How many predictors are there? What is the equation of the regression model? Using the key statistics discussed in this chapter, discuss the strength of the model and its predictors.
> Study the Minitab regression output that follows. How many predictors are there? What is the equation of the regression model? Using the key statistics discussed in this chapter, discuss the strength of the model and the predictors. Regression Analysis:
> Study the Minitab residual diagnostic output that follows. Discuss any potential problems with meeting the regression assumptions for this regression analysis based on the residual graphics.
> Study the Excel output shown in Problem 13.13. Comment on the overall strength of the regression model in light of S, R2, and adjusted R2. Refer in Problem Data 13.13:
> Use a computer to develop the equation of the regression model for the following data. Comment on the regression coefficients. Determine the predicted value of y for x1 = 33, x2 = 29, and x3 = 13.
> Using the regression output obtained by working Problem 13.12, comment on the overall strength of the regression model using S, R2, and adjusted R2.
> A corporation owns several companies. The strategic planner for the corporation believes dollars spent on advertising can to some extent be a predictor of total sales dollars. As an aid in long-term planning, she gathers the following sales and advertisi
> Using the regression output obtained by working Problem 13.11, comment on the overall strength of the regression model using S, R2, and adjusted R2.
> Using the regression output obtained by working Problem 13.6, comment on the overall strength of the regression model using S, R2, and adjusted R2.
> Using the regression output obtained by working Problem 13.5, comment on the overall strength of the regression model using S, R2, and adjusted R2.
> Study the Minitab output shown in Problem 13.8. Comment on the overall strength of the regression model in light of S, R2, and adjusted R2. Refer to the Problem Data 13.8: Analysis of Variance
> Study the Minitab output shown in Problem 13.7. Comment on the overall strength of the regression model in light of S, R2, and adjusted R2. Refer to the Problem Data 13.7: Analysis of Variance
> Study the following Excel multiple regression output. How many predictors are in this model? How many observations? What is the equation of the regression line? Discuss the strength of the model in terms of F. Which predictors, if any, are significant? W
> Use the following data to develop a regression model to predict y from x1 and x2. Comment on the output. Develop a regression model to predict y from x1 only. Compare the results of this model with those of the model using both predictors. What might you
> Develop a multiple regression model to predict y from x1, x2, and x3 using the following data. Discuss the values of F and t.
> Using the data from Problem 13.6, develop a multiple regression model to predict insider ownership from debt ratio and dividend payout. Comment on the strength of the model and the predictors by examining the ANOVA table and the t tests. Refer to the Pr
> Use a computer to develop the equation of the regression model for the following data. Comment on the regression coefficients. Determine the predicted value of y for x1 = 200 and x2 = 7.
> Sketch a scatter plot from the following data, and determine the equation of the regression line.
> Study the following Minitab residual diagnostic graphs. Comment on any possible violations of regression assumptions.
> Study the following Excel regression output for an analysis attempting to predict the number of union members in the United States by the size of the labor force for selected years over a 30-year period from data published by the U.S. Bureau of Labor Sta
> Study the following Minitab output from a regression analysis to predict y from x. Regression Analysis: Y Versus X a) What is the equation of the regression model? b) What is the meaning of the coefficient of x? c) What is the result of the test of the
> Can the consumption of water in a city be predicted by air temperature? The following data represent a sample of a day’s water consumption and the high temperature for that day. Water Use (millions of gallons) ________ Temperature (degrees Fahrenheit) 21
> Is the amount of money spent by companies on advertising a function of the total revenue of the company? Shown are revenue and advertising cost data for 10 companies published by Advertising Age. Use the data to develop a regression line to predict the
> The following data represent a breakdown of state banks and all savings organizations in the United States every 5 years over a 60-year span, according to the Federal Reserve System. Develop a regression model to predict the total number of state banks
> People in the aerospace industry believe the cost of a space project is a function of the weight of the major object being sent into space. Use the following data to develop a regression model to predict the cost of a space project by the weight of the s
> Shown below are data on the total sales generated by the seafood industry and the corresponding jobs supported by the seafood industry in the top 10 states by seafood sales. The data are published by the National Marine Fisheries Service of the National
> How strong is the correlation between the inflation rate and 30-year U.S. Treasury yields? The following data published by Fuji Securities are given as pairs of inflation rates and Treasury yields for selected years over a 35-year period. Inflation Rate
> Shown here are the labor force figures (in millions) published by the World Bank for the country of Bangladesh over a 10-year period. Develop the equation of a trend line through these data and use the equation to predict the labor force of Bangladesh fo
> Sketch a scatter plot from the following data, and determine the equation of the regression line.
> It seems logical that restaurant chains with more units (restaurants) would have greater sales. This assumption is mitigated, however, by several possibilities: Some units may be more profitable than others, some units may be larger, some units may serve
> The American Research Group, Inc., conducted a telephone survey of a random sample of 1100 U.S. adults in a recent year and determined that the average amount of planned spending on gifts for the holiday season was $854 and that 40% of the purchases woul
> A manager of a car dealership believes there is a relationship between the number of salespeople on duty and the number of cars sold. Suppose the following sample is used to develop a simple regression model to predict the number of cars sold by the numb
> Determine the equation of the trend line through the following cost data. Use the equation of the line to forecast cost for year 7. Year _______ Cost ($ millions) 1 ……………………… 56 2 ……………………… 54 3 ……………………… 49 4 ……………………… 46 5 ……………………… 45
> Determine the equation of the least squares regression line to predict y from the following data. a) Construct a 95% confidence interval to estimate the mean y value for x = 60. b) Construct a 95% prediction interval to estimate an individual y value fo
> If you were to develop a regression line to predict y by x, what value would the coefficient of determination have?
> Use the following data for parts a through g. a) Determine the equation of the simple regression line to predict y from x. b) Using the x values, solve for the predicted values of y and the residuals. c) Solve for SSE. d) Calculate the standard error of
> Use the following data for parts a through f. a) Determine the equation of the least squares regression line to predict y by x. b) Using the x values, solve for the predicted values of y and the residuals. c) Solve for se. d) Solve for r2. e) Test the s
> Determine the Pearson product-moment correlation coefficient for the following data.
> E-commerce sales in the United States have been growing for many years. Shown below are quarterly adjusted e-commerce sales figures ($ billions) released by the Census Bureau for the United States over a three-year period. Use these data to determine the
> The National Safety Council released the following data on the incidence rates for fatal or lost-worktime injuries per 100 employees for several industries in three recent years. Compute r for each pair of years and determine which years are most highly
> Shown below are rental and leasing revenue figures for office machinery and equipment in the United States over a seven-year period according to the U.S. Census Bureau. Use these data to construct a trend line and forecast the rental and leasing revenue
> Determine the equation of the trend line for the data shown below provided by the U.S. Census Bureau on U.S. exports of fertilizers to Indonesia over a five-year period. Using the trend line equation, forecast the value for the year 2020. Year _________
> Construct a 99% confidence interval for the average bond rate in Problem 12.9 for a prime interest rate of 10%. Discuss the meaning of this confidence interval.
> Construct a 98% confidence interval for the average value of y for Problem 12.8 using x = 20. Construct a 98% prediction interval for a single value of y for Problem 12.8 using x = 20. Which is wider? Why?
> Construct a 90% prediction interval for a single value of y for Problem 12.7 using x = 100. Construct a 90% prediction interval for a single value of y for Problem 12.7 using x = 130. Compare the results. Which prediction interval is greater? Why?
> Construct a 95% confidence interval for the average value of y for Problem 12.6. Use x = 25.
> Test the slope of the regression line developed in Problem 12.10. Use a 5% level of significance.
> Test the slope of the regression line developed in Problem 12.10. Use a 5% level of significance.
> Test the slope of the regression line determined in Problem 12.8. Use α = .10.
> The following data are the claims (in $ millions) for BlueCross BlueShield benefits for nine states, along with the surplus (in $ millions) that the company had in assets in those states. Use the data to compute a correlation coefficient, r, to determin
> Test the slope of the regression line determined in Problem 12.7. Use α = .01.
> Test the slope of the regression line determined in Problem 12.6. Use α = .05.
> The Conference Board produces a Consumer Confidence Index (CCI) that reflects people’s feelings about general business conditions, employment opportunities, and their own income prospects. Some researchers may feel that consumer confidence is a function
> In Problem 12.10, you were asked to develop the equation of a regression model to predict the number of business bankruptcies by the number of firm births. For this regression model, solve for the coefficient of determination and comment on it.
> Compute r2 for Problem 12.27 (Problem 12.9). Discuss the value of r2 obtained.
> In decision analysis, decision-making scenarios are divided into three categories: decision-making under ______________, decision-making under _______________, and decision-making under ______________. 2. Many decision analysis problems can be viewed as
> A graphical method for evaluating whether a process is or is not in a state of statistical control is called a ________________. 15. A diagram that is shaped like a fish and displays potential causes of one problem is called a __________ or ___________ d
> The collection of strategies, techniques, and actions taken by an organization to assure themselves that they are producing a quality product is ____________________. 2. Measuring product attributes at various intervals throughout the manufacturing proce
> Suppose a researcher desires to analyze the data below using a Kruskal-Wallis test to determine if there is a significant difference in the populations from which the four samples were taken. The degrees of freedom associated with the Kruskal-Wallis tes
> For the problem presented in question 8, the observed value of z is _______________. Based on this value and the critical value determined in question 8, the decision should be to _______________ the null hypothesis. 12. The nonparametric alternative to
> Statistical techniques based on assumptions about the population from which the sample data are selected are called _______________ statistics. 2. Statistical techniques based on fewer assumptions about the population and the parameters are called ______
> In using the chi-square goodness-of-fit test, a statistician needs to make certain that none of the expected values are less than _______________. 12. The chi-square ____________________ is used to analyze frequencies of two variables with multiple categ
> Compute r2 for Problem 12.26 (Problem 12.8). Discuss the value of r2 obtained.
> Statistical techniques based on assumptions about the population from which the sample data are selected are called _______________ statistics. 2. Statistical techniques based on fewer assumptions about the population and the parameters are called ______
> Consider the data below: Month _________ Volume Jan. …………………….. 1230 Feb. …
> Shown below are the forecast values and actual values for six months of data: The mean absolute deviation of forecasts for these data is __________. The mean square error is __________________. 2. Data gathered on a given characteristic over a period
> Another name for an indicator variable is a ________________ variable. These variables are _____________________ as opposed to quantitative variables. 2. Indicator variables are coded using __________ and _________. 3. Suppose an indicator variable has
> 1. In multiple regression, an _______ statistic is used to test for the overall effectiveness of the model. 2. The significance of individual regression coefficients in a multiple regression model is tested using a ______ ratio. 3. The value, se, represe
> The value of Se is computed from the data of question 24 is _______________. 26. Suppose a regression model results in a value of se = 27.9. 95% of the residuals should fall within _______________. 27. Coefficient of determination is denoted by ________
> In regression analysis, bo represents the sample _______________. 14. A researcher wants to develop a regression model to predict the price of gold by the prime interest rate. The dependent variable is _______________. 15. In an effort to develop a reg
> _______________ is a measure of the degree of relatedness of two variables. 2. The Pearson product-moment correlation coefficient is denoted by _______________. 3. The value of r varies from _________________________. 4. Perfect positive correlation res
> The Fletcher-Terry Company of Farmington, Connecticut, is a worldwide leader in the development of glass-cutting tools and accessories for professional glaziers, glass manufacturers, glass artisans, and professional framers. The company can trace its roo
> Standard Motor Products, Inc. (SMP), headquartered in Long Island City, New York, manufactures and distributes replacement parts in the automotive aftermarket industry. The company sells products to warehouse distributors and auto parts retailers in Nort
> Compute r2 for Problem 12.25 (Problem 12.7). Discuss the value of r2 obtained.
> In 1895, Ignaz Schwinn and his partner, Adolph Arnold, incorporated the Arnold, Schwinn & Company in Chicago to produce bicycles. In the early years with bicycle products such as the “Roadster,” a single-speed bike
> Foot Locker, Inc., is the world’s number-one retailer of athletic footwear. Headquartered in New York City, the company has over 32,175 employees and 3310 retail stores in 27 countries across North America, Europe, Asia, Australia, and
> The DeBourgh Manufacturing Company was founded in 1909 as a metal-fabricating company in Minnesota by the four Berg brothers. In the 1980s, the company ran into hard times, as did the rest of the metal fabricating industry. Among the problems that DeBour
> Virginia Semiconductor, Inc., is a leading manufacturer of prime silicon substrates and since 1997 has been the world’s number-one on-line source for silicon wafers and substrates. The company, situated in Fredericksburg, Virginia, was
> Starbucks is a resounding restaurant success story. Beginning with its first coffee house in 1971, Starbucks has grown to more than 28,218 stores. Opening up its first international outlet in the mid-1990s, Starbucks now operates in more than 67 countrie
> Caterpillar, Inc., headquartered in Peoria, Illinois, is an American corporation with a worldwide dealer network that sells machinery, engines, financial products, and insurance. Caterpillar is the world’s leading manufacturer of constr
> A home buyer is completing an application for a home mortgage. The buyer is given the option of “locking in” a mortgage loan interest rate or waiting 60 days until closing and locking in a rate on the day of closing. The buyer is not given the option of
> Use the following decision table to complete parts a through c. a) Draw a decision tree to represent this payoff table. b) Compute the expected monetary values for each decision and label the decision tree to indicate what the final decision would be. c
> How much is the expected monetary payoff with perfect information in Problem 19.5? From this answer and the decision reached in Problem 19.6, what is the value of perfect information? Refer to the Problem 19.5:
> Suppose the probabilities of the states of nature occurring for Problem 19.5 are s1 = .15, s2 = .25, s3 = .30, s4 = .10, and s5 = .20. Use these probabilities and expected monetary values to reach a conclusion about the decision alternatives in Problem 1
> Compute r2 for Problem 12.24 (Problem 12.6). Discuss the value of r2 obtained.
> Use the following decision table to construct a decision tree.
> The introduction of a new product into the marketplace is quite risky. The percentage of new product ideas that successfully make it into the marketplace is as low as 1%. Research and development costs must be recouped, along with marketing and productio
> Election results can affect the payoff from certain types of investments. Suppose a brokerage firm is faced with the prospect of investing $20 million a few weeks before the national election for president of the United States. They feel that if a Republ
> A city is considering airport expansion. In particular, the mayor and city council are trying to decide whether to sell bonds to construct a new terminal. The problem is that at present demand for gates is not strong enough to warrant construction of a n
> A small retailer began as a mom-and-pop operation selling crafts and consignment items. During the past two years, the store’s volume grew significantly. The owners are trying to decide whether to purchase an automated checkout system.
> A U.S. manufacturing company decided to consider producing a particular model of one of its products just for sale in Germany. Because of the German requirements, the product must be made specifically for German consumption and cannot be sold in the Unit
> An entertainment company owns two amusement parks in the South. They are faced with the decision of whether to open the parks in the winter. If they choose to open the parks in the winter, they can leave the parks open during regular hours (as in the sum
> Some companies use production learning curves to set pricing strategies. They price their product lower than the initial cost of making the product; after some period of time, the learning curve takes effect and the product can be produced for less than
> Use the decision table given here to complete parts a through d a) Use the maximax criterion to determine which decision alternative to select. b) Use the maximin criterion to determine which decision alternative to select. c) Use the Hurwicz criterion
> Managers of a manufacturing firm decided to add Christmas tree ornaments to their list of production items. However, they have not decided how many to produce because they are uncertain about the level of demand. Shown here is a decision table that has b
> Determine the equation of the regression line to predict annual sales of a company from the yearly stock market volume of shares sold in a recent year. Compute the standard error of the estimate for this model. Does volume of shares sold appear to be a g
> Shown here is a decision table. A forecast can be purchased by the decision maker. The forecaster is not correct 100% of the time. Also given is a table containing the probabilities of the forecast being correct under different states of nature. Use the
