An independent researcher wants to study the factors which affected the prices set by a leading AC manufacturing company, Chester, across the country for the year 2017. She studies whether theeffect on price, of the quantity demanded of ACs by the consumers, is significant or not. She selects a random sample of 200 retail outlets of the company and estimates the followingregression equation:P-800.75-12.58/n(Q),(8.98) (7.64)where is the predicted value of price of the ACs and In(Q) is the logarithm of the quantity demanded of ACs by the consumers. Standard errors are given in parentheses.The 95% confidence interval for the slope coefficient, will be(Round your answer to two decimal places. Enter a minus sign if your answer is negative.)Based on the calculated confidence interval, we can say that at the 5% significance level, we willthe hypothesis that/, =0.fail to rejectreject

The regression model is used to estimate the value of one variable by the value of the other…

Answered: An independent researcher wants to…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A manager uses the SLR model to study the relationship between training hours (X) and a job efficiency index (Y). From a sample of 40 employees, she finds: bo = 13, b₁ = 2, SSR = 94.3, and SSE = 13.9 What percentage of variation in job efficiency index values is accounted for by the assumed relationship with training hours? (Round to the nearest percent and do not include the % sign in your answer.)
You are analyzing a dataset with 932 datapoints. You decide to create a linear regression model with this dataset, using 18 predictor variables. Using this information, what is the degrees of freedom associated with the sum of squares total (total sum of squares) of your analysis?
The table below gives the list price and the number of bids received for five randomly selected items sold through online auctions. Using this data, consider the equation of the regression line, yˆ=b0+b1x, for predicting the number of bids an item will receive based on the list price. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant. Price in Dollars 20 30 35 42 49 Number of Bids 3 4 5 6 9
The Conde Nast Traveler Gold List for 2012 provided rating for the top 20 small cruise ships. The data from annual Readers’ Choice Survey are the overall scores(Y) each ship received based on several criteria, including Itineraries/Schedule (X1), Shore Excursions(X2), and Food/Dinning(X3). The estimated regression equation to predict the overall scores is Y= 35.6184+0.1105 X1+0.2445 X2+0.2474 X3. Part of the regression results is shown below. Coefficients Standard Error Intercept 35.6184 13.2308 Itineraries/Schedule(X1) 0.1105 0.1297 Shore Excursions(X2) 0.2445 0.0434 Food/Dinning(X3) 0.2474 0.0621 Use the T test to determine whether or not the coefficient of X1 is significant. Use Level of significance=.05? Be sure to state null and alternative hypotheses.…
In a regression study, relating Price/unit (x) to Weekly Sales (in Kg.), with the scatter plot showing a strong negative direction, 63% of the variability in sales could be accounted for by the variation in the Unit Price. The correlation coefficient in this study is: 0.7 -0.4 -0.79 0.4
The table below gives the list price and the number of bids received for five randomly selected items sold through online auctions. Using this data, consider the equation of the regression line, yˆ=b0+b1x, for predicting the number of bids an item will receive based on the list price. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant. Price in Dollars 124 143 158 160 196 Number of Bids 12 13 15 16 20 Table Step 2 of 6 : Find the estimated y-intercept. Round your answer to three decimal places.
You are analyzing a dataset containing 379 datapoints, and want to use 13 predictor variables to create a multiple variable linear regression model of the data. You conduct an ANOVA analysis, and yield a R² of 38%. Using this information, what would be the F statistic of your analysis?
In a regression study, relating Price/unit (x) to Weekly Sales (in Kg.), with the scatter plot showing a strong negative direction, 63% of the variability in sales could be accounted for by the variation in the Unit Price. The correlation coefficient in this study is: 0.79 -0.4 -0.79 0.4
Suppose the following data were collected from a sample of 1515 CEOs relating annual salary to years of experience and the economic sector their company belongs to. Use statistical software to find the following regression equation: SALARYi=b0+b1EXPERIENCEi+b2SERVICEi+b3INDUSTRIALi+eiSALARY�=�0+�1EXPERIENCE�+�2SERVICE�+�3INDUSTRIAL�+��. Is there enough evidence to support the claim that on average, CEOs in the service sector have lower salaries than CEOs in the financial sector at the 0.010.01 level of significance? If yes, write the regression equation in the spaces provided with answers rounded to two decimal places. Else, select "There is not enough evidence." Copy Data CEO Salaries Salary Experience Service (1 if service sector, 0 otherwise) Industrial (1 if industrial sector, 0 otherwise) Financial (1 if financial sector, 0 otherwise) 144225144225 1010 11 00 00 187765187765 2020 00 00 11 142500142500 66 11 00 00 169650169650 2828 11 00 00 167250167250 3131 00…
A car dealership would like to develop a regression model that would predict the number of cars sold per month by a dealership employee based on theemployee's number of years of sales experience. The accompanying regression output was developed based on a random sample of employees. a. Predict the sales next month for an employee with 2.5 years of experience. The predicted sales is 8.6 cars. b. Compute the coefficient of determination and interpret its meaning. The coefficient of determination is 0.234 Therefore, about _________% of the variation in monthly sales is explained by the years of sales experience. (Type an integer or decimal rounded to one decimal place as needed.)
The value of PRESS for five different regression models are A = 42.3, B = 47.4, C = 51.5, D =40.6, and E = 54.6. Based only on this statistic, which model is preferred?
A researcher interested in explaining the level of foreign reserves for the country of Barbadosestimated the following multiple regression model using yearly data spanning the period 2001 to 2016: ??=?+????+????+????Where FR = yearly foreign reserves ($000’s), OIL = annual oil prices, EXP = yearly total exports ($000’s) and FDI = annual foreign direct investment ($000’s). The sample of data was processed using MINITAB and the following is an extract of the output obtained:Predictor Coef StDev t-ratio p-value Constant 5491.38 2508.81 2.1888 0.0491OIL 85.39 18.46 4.626 0.0006EXP -377.08 112.19 * 0.0057FDI -396.99 160.66 -2.471 ** S = 2.45 R-sq = 96.3% R-sq(adj) = 95.3%Analysis of VarianceSource DF SS MS F pRegression 3 1991.31 663.77 ? ??Error 12 77.4 6.45Total 15 Perform the F Test making sure to state the null and alternative hypothesis. f) Given an interpretation of the term “R-sq” and comment on its value.

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