A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Related questions
Concept explainers
Topic Video
Question
Cincinnati Paint Company sells quality brands of paints through hardware stores throughout the United States. The company maintains a large sales force who call on existing customers and look for new business. The national sales manager is investigating the relationship between the number of sales calls made and the miles driven by the sales representative. Also, do the sales representatives who drive the most miles and make the most calls necessarily earn the most in sales commissions? To investigate, the vice president of sales selected a sample of 25 sales representatives and determined:
- The amount earned in commissions last month (y)
- The number of miles driven last month (x1)
- The number of sales calls made last month (x2)
The information is reported below.
| Commissions ($000) | Calls | Driven | Commissions ($000) | Calls | Driven |
| 22 | 140 | 2,372 | 38 | 146 | 3,291 |
| 13 | 132 | 2,227 | 44 | 145 | 3,104 |
| 33 | 145 | 2,732 | 29 | 147 | 2,122 |
| 38 | 146 | 3,351 | 38 | 144 | 2,792 |
| 23 | 142 | 2,289 | 37 | 149 | 3,210 |
| 47 | 143 | 3,450 | 14 | 132 | 2,288 |
| 29 | 138 | 3,114 | 34 | 144 | 2,848 |
| 38 | 146 | 3,342 | 25 | 132 | 2,691 |
| 41 | 145 | 2,843 | 27 | 132 | 2,934 |
| 32 | 134 | 2,626 | 25 | 128 | 2,672 |
| 20 | 136 | 2,121 | 43 | 154 | 2,989 |
| 13 | 137 | 2,220 | 34 | 147 | 2,829 |
| 47 | 146 | 3,464 | |||
Click here for the Excel Data File
Develop a regression equation including an interaction term. (Negative amount should be indicated by a minus sign. Round your answers to 3 decimal places.)
Complete the following table. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.)
Compute the value of the test statistic corresponding to the interaction term. (Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places.)
At the 0.05 significance level is there a significant interaction between the number of sales calls and the miles driven?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, probability and related others by exploring similar questions and additional content below.Similar questions
- The New York Times reported that Apple has unveiled a new iPad marketed specifically to school districts for use by students (The New York Times website). The -inch iPads will have faster processors and a cheaper price point in an effort to take market share away from Google Chromebooks in public school districts. Suppose that the following data represent the percentages of students currently using Apple iPads for a sample of U.S. public school districts. Click on the datafile logo to reference the data. 15 22 12 21 26 18 42 29 64 20 15 22 18 24 27 24 26 19 a. Compute the mean and median percentage of students currently using Apple iPads. Mean (to decimals) Median (to the nearest whole number) b. Compute the first and third quartiles for these data. First quartile (to decimals) Third quartile (to decimals) c. Compute the range and interquartile range for these data. Range (to the nearest whole number) Interquartile range (to decimals) d.…arrow_forwardSuppose you just graduated with an accounting degree and are trying to choose an accounting firm to begin your career. You spent hours researching many firms and have narrowed your search down to three (i.e. Aguilar, Brown and Cheng). You have surveyed accountants to determine if the average incomes at each firm are equal between each of your top three choices. Obviously you want to join the firm with the highest average pay. Below are a sample of salaries (i.e. eight individuals from each firm) enabling you to test the hypothesis that the average pay (in thousands of $) is equal between employers. Use Fisher's LSD procedure (if necessary) to test whether there is a significant difference between any of the firms. (Show work for full credit, 10 pts) Aguilar Brown Cheng 72 98 80 81 60 54 103 87 60 94 69 45 64 72 53 58 67 42 70 74 67 71 78 80 Using a .05 level of significance complete the hypothesis test below. A. State the null and alternative…arrow_forwardMandrake Falls High School is providing a weekend course in laboratory techniques to its laboratory students. Of the 200 students enrolled in lab classes at Mandrake, 75 have taken the weekend course. Mandrake is evaluating the course's effectiveness by having its lab instructors record harmful lab "incidents": accidents, misuse of lab equipment, etc. The contingency table below gives a summary of the data that have been gathered so far for Mandrake's 200 lab students. Each student is classified according to two variables: status regarding lab techniques course ("Took the course" or "Didn't take the course") and laboratory performance ("Involved in no incident", "Involved in exactly one incident", or "Involved in 2+ incidents"). In the cells of the table are the respective observed frequencies. Note that three of the cells also have blanks. Fill in these blanks with the frequencies expected if the two variables, status regarding lab techniques course and laboratory performance, are…arrow_forward
- The following table presents prices, in thousands of dollars, of single-family homes for 20 of the largest metropolitan areas in the United States for the first quarter of 2012 and the first quarter of 2013. . Metro Area 2012 2013 Boston, MA 311.5 332.2 Chicago, IL 157.2 159.4 Cincinnati, OH 112.5 121.0 Cleveland, OH 84.9 101.0 Dallas, TX 148.2 160.4 Denver, CO 226.4 261.2 Houston, TX 152.1 163.7 Los Angeles, CA 122.1 155.1 Miami, FL 182.0 219.9 Minneapolis, MN 147.3 170.6 Metro Area 2012 2013 New York, NY 363.8 368.2 Philadelphia, PA 193.5 197.7 Phoenix, AZ 129.9 169.0 Portland, OR 208.6 246.5 Riverside, CA 174.3 216.7 St. Louis, MO 103.7 111.0 San Diego, CA 359.5 412.3 San Francisco, CA 448.0…arrow_forwardIn the digital age of marketing, special care must be taken to make sure that programmatic ads appearing on websites align with a company's strategy, culture and ethics. For example, in 2017, Nordstrom, Amazon and Whole Foods ea faced boycotts from social media users when automated ads for these companies showed up on the Breitbart website (ChiefMarketer.com). It is important for marketing professionals to understand a company's values and culture. The following data are from an experiment designed to investigate the perception of corporate ethical values among individuals specializing in marketing (higher scores indicate higher ethical values). Marketing Managers Marketing Research Advertising 3. 6 4 6. 5 7 (a) Use a = 0.05 to test for significant differences in perception among the three groups. State the null and alternative hypotheses. O Ho: At least two of the population means are equal. H : At least two of the population means are different. O Ho: Not all the population means are…arrow_forwardThe accounting department of Insecurity Protection Services, a company that provides security services for rich, famous, and insecure people is analyzing the costs of its accounting services. Analysts have selected the following cost drivers: paychecks processed, invoices processed, customer accounts maintained, responses to routine inquires, and special analyses. MONTH COSTS PAYCHECKS INVOICES CUSTOMER ROUTINE SPECIAL ACCOUNTS 325 PROCESSED PROCESSED INQUIRES ANALYSIS $7,013.00 6,469.80 6,129.40 5,905.90 5,659.50 1,340 1,180 1,050 1 12,690 11,980 10,950 10,280 9,020 8,130 7,540 6,980 32 2 310 39 3 280 245 205 185 45 1 4 930 54 840 68 6 780 83 5,115.80 5,101.80 5,488.90 5,284.80 2 7 700 160 97 3 8 630 140 112 4 9 8,930 680 115 101 2 Sort 9,800 10,560 11,560 10 760 93 5,538.40 6,129.30 6,026.10 6,517.20 6,600.50 120 11 890 175 82 1 12 1,070 1,240 1,390 1,450 200 68 13 11,710 12,460 13,520 13,620 169,730 240 55 14 285 45 15 7,153.10 7,207.60 $97,341.10 300 39 1 16 1,510 16,440 315 24…arrow_forward
- In the digital age of marketing, special care must be taken to make sure that programmatic ads appearing on websites align with a company's strategy, culture and ethics. For example, in 2017, Nordstrom, Amazon and Whole Foods each faced boycotts from social media users when automated ads for these companies showed up on the Breitbart website (ChiefMarketer.com). It is important for marketing professionals to understand a company's values and culture. The following data are from an experiment designed to investigate the perception of corporate ethical values among individuals specializing in marketing (higher scores indicate higher ethical values). Marketing Managers Marketing Research Advertising 4 6 7 3 6 6 3 5 6 4 5 5 5 5 6 5 6 6 Find the value of the test statistic. Find the p-value. (Round your answer to three decimal places.) p-value = (b) At the ? = 0.05 level of significance, we can conclude that there are differences in the perceptions for marketing…arrow_forwardIn the digital age of marketing, special care must be taken to ensure that programmatic ads appear on websites aligned with a company’s strategy, culture, and ethics. For example, in , Nordstrom, Amazon, and Whole Foods each faced boycotts from social media users when automated ads for these companies showed up on the Breitbart website (ChiefMarketer.com website). It is important for marketing professionals to understand a company's values and culture. The following data are from an experiment designed to investigate the perception of corporate ethical values among individuals specializing in marketing (higher scores indicate higher ethical values). Marketing Managers Marketing Research Advertising 6 5 5 5 5 6 4 4 5 5 4 4 6 5 5 4 4 5 a. Use to test for a significant difference in perception among the three groups. Compute the values identified below (to decimals, if necessary). Sum of Squares, Treatment Sum of Squares, Error Mean Squares, Treatment…arrow_forwardIn the digital age of marketing, special care must be taken to make sure that programmatic ads appearing on websites align with a company's strategy, culture and ethics. For example, in 2017, Nordstrom, Amazon and Whole Foods each faced boycotts from social media users when automated ads for these companies showed up on the Breitbart website (ChiefMarketer.com). It is important for marketing professionals to understand a company's values and culture. The following data are from an experiment designed to investigate the perception of corporate ethical values among individuals specializing in marketing (higher scores indicate higher ethical values). Marketing Managers Marketing Research Advertising 4 6 5 5 6 6 5 7 5 3 6 4 3 7 5 4 7 5 (a) Use ? = 0.05 to test for significant differences in perception among the three groups. State the null and alternative hypotheses. H0: ?MM = ?MR = ?AHa: Not all the population means are equal. H0: ?MM = ?MR = ?A Ha: ?MM ≠ ?MR ≠ ?A…arrow_forward
- In the digital age of marketing, special care must be taken to make sure that programmatic ads appearing on websites align with a company's strategy, culture and ethics. For example, in 2017, Nordstrom, Amazon and Whole Foods each faced boycotts from social media users when automated ads for these companies showed up on the Breitbart website (ChiefMarketer.com). It is important for marketing professionals to understand a company's values and culture. The following data are from an experiment designed to investigate the perception of corporate ethical values among individuals specializing in marketing (higher scores indicate higher ethical values). Marketing Managers Marketing Research Advertising 4 6 6 3 5 6 5 5 6 5 6 5 4 6 7 3 5 6 (a) Use ? = 0.05 to test for significant differences in perception among the three groups. State the null and alternative hypotheses. H0: Not all the population means are equal.Ha: ?MM = ?MR = ?A H0: ?MM ≠ ?MR ≠ ?AHa: ?MM = ?MR =…arrow_forwardUniversity researchers published a working paper. One of the objectives of the study was to determine whether ride-share drivers actually make a profit.arrow_forwardThe London School of Economics and the Harvard Business School have conducted studies of how chief executive officers (CEOS) spend their time. These studies have found that CEOs spend many hours per week in meetings, not including conference calls, business meals, and public events (The Wall Street Journal). Shown below is the time spent per week in meetings (hours) for a sample of 25 CEOS. 20 20 23 15 19 a. What is the least amount of time spent per week on meetings? The highest? 17 - 18 19 - 20 21 22 23 24 Total Prepare a histogram 22 23 14 19 17 Frequency b. Use a class width of two hours to prepare a frequency distribution and a percent frequency distribution for the data. Round your answers to the nearest whole number. If your answer is zero, enter "0". Hours in Meetings per week 11-12 13 - 14 15 - 16 Percent Frequency % % % % 12 % % % % 18 13 15 23 23 17 12 15 19 21 20 12 17 21arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- A First Course in Probability (10th Edition)ProbabilityISBN:9780134753119Author:Sheldon RossPublisher:PEARSON
A First Course in Probability (10th Edition)
Probability
ISBN:9780134753119
Author:Sheldon Ross
Publisher:PEARSON