Can you discuss the potential pitfalls of this scenario? The regression equation based on data from years 1 thru 10 is, y = 6 + 32 x Where, X = Year We want to forecast a result in year 20, i.e. find value of y when x = 20 Solution : The forecast result in year 20 is, y = 6 + (32)*(20) y = 6 + 640 y = 646  The forecast result in year 20 is 646.

(d) If the life expectancy is increased by 3.5 years in a certain country, how much will the happiness index change? Round to two decimal places. (e) Use the regression line to predict the happiness index of a country with a life expectancy of 84 years. Round to two decimal places.

A statistical program is recommended. The owner of Showtime Movie Theaters, Inc., would like to predict weekly gross revenue as a function of advertising expenditures. Historical data for a sample of eight weeks follow. Weekly Television Gross Newspaper Advertising Advertising ($1,000s) ($1,000s) Revenue ($1,000s) 96 5.0 1.5 90 2.0 2.0 95 4.0 1.5 92 2.5 2.5 95 3.0 3.3 94 3.5 2.3 94 2.5 4.2 94 3.0 2.5 1 (a) Develop an estimated regression equation with the amount of television advertising as the independent variable. (Round your numerical values to two decimal places. Let x₁ represent the amount of television advertising in $1,000s and y represent the weekly gross revenue in $1,000s.) y = 88.64 + 1.60x1 X (b) Develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables. (Round your numerical values to two decimal places. Let x₁ represent the amount of television advertising in $1,000s, x₂ represent the amount of…

The following estimated regression equation has been proposed to predict daily sales at a furniture store. ŷ = 12 − 5x1 + 8x2 + 17x3 where ŷ = estimated sales (in $1,000s) x1 = competitor's previous day's sales (in $1,000s) x2 = population within 1 mile (in 1,000s) x3 = 1 if any form of advertising was used; 0 otherwise (a) Fully interpret the meaning of the b3 coefficient (Give the answer in dollars.) Predict sales (in dollars) for the store with competitor's previous day's sale of $4,000, a population of 11,000 within 1 mile, and ... (b) no radio advertisements. $ (c) one radio advertisement. $ (d) eight radio advertisements. $

A particular article used a multiple regression model to relate y = yield of hops to x, = average temperature (°C) between date of coming into hop and date of picking and x, = average percentage of sunshine during the same period. The model equation proposed is the following. y = 415.11 – 6.6x1 – 4.50x2 +e (a) Suppose that this equation describes the actual relationship. What mean yield corresponds to a temperature of 20 and a sunshine percentage of 40? (b) What is the mean yield when the average temperature and average percentage of sunshine are 19 and 44, respectively?

A well-known university is interested in how salary (in thousands of dollars) is predicted from years of service for faculty and administrative staff.  Below are the estimated regression equations.Faculty (n = 170): ŷ = 60 + 1.1xAdmin. (n = 155): ŷ = 57 + 1.5x a) How much would a faculty member be earning after 5 years of service? b) In how many years will an administrator earn the same amount as in a)?

A particular article used a multiple regression model to relate y = yield of hops to x₁ = mean temperature (°C) between date of coming into hop and date of picking and x₂ = mean percentage of sunshine during the same period. The model equation proposed is the following. y = 415.116.6x₁4.50x2+e (a) Suppose that this equation does indeed describe the true relationship. What mean yield corresponds to a temperature of 20 and a sunshine percentage of 39? (b) What is the mean yield when the mean temperature and percentage of sunshine are 19.1 and 42, respectively? You may need to use the appropriate table in Appendix A to answer this question.

When you are deciding which variables to include as predictors in a multiple regression equation, what are some conditions that you must consider first?

In Step 2: Construct an estimated simple linear regression model how did you come up with the column X*X ?

A linear regression analysis reveals a strong, negative linear relationship between x and y. Which of the following could possibly be the results from this analysis? (A) ŷ 13.1 27.4x, r = 0.85 (B) == 27.4+ 13.1x, r = -0.95 (D) == (C) ŷ 13.1+ 27.4x, r = 0.95 542 385x, r = -0.15 (E) 0.85 0.25x, r = -0.85