Use the Regression tool on the accompanying wedding data, using the wedding cost as the dependent variable and attendance as the independent variable. Complete parts a through c. Click the icon to view the wedding data. OA. The Y-intercept indicates that a wedding with an attendance of 0 people has a mean predicted cost of $bo B. The Y-intercept indicates that a wedding with a cost of $0 has a mean predicted attendance of by people. OC. It is not appropriate to interpret the Y-intercept because it is outside the range of observed wedding costs. D. It is not appropriate to interpret the Y-intercept because it is outside the range of observed attendances. Identify and interpret the meaning of the coefficient of determination in this problem. Select the correct choice below and fill in the answer box to complete your choice. (Round to three decimal places as needed.) Wedding Attendance and Cost Wedding Cost Attendance 58700 300 54000 350 45000 150 OA. The coefficient of determination is R2= This value is the proportion of variation in attendance that is explained by the variation in wedding cost. 42000 200 34000 250 OB. The coefficient of determination is R2= This value is the probability that the correlation between the variables is statistically significant. 31500 150 31000 250 Ос The coefficient of determination is R2 This value is the probability that the slope of the regression line is statistically significant. 30000 300 28000 250 D. The coefficient of determination is R = 0.561. This value is the proportion of variation in wedding cost that is explained by the variation in attendance. 28000 200 27000 150 Interpret the values given in the test of the population slope. Use a 0.05 level of significance. State the null and alternative hypotheses the test. 26000 200 24000 200 0 Ho B H₁₁ (Type integers or decimals. Do not round.) Identify the test statistic. t-5.42 (Round to two decimal places as needed.) Identify the p-value. The p-value is 0.000 (Round to three decimal places as needed.) State the conclusion. 22000 200 21000 200 21000 200 19000 100 18000 150 18000 200 18000 150 17000 100 15000 100 12000 150 7000 50 5000 Wedding Cost Attendance Reject H. There is sufficient evidence of a linear relationship between wedding cost and attendance. Identify and interpret the 95% confidence interval estimate of the population slope. The confidence interval is Print Done With 95% confidence, it can be said that true expected mean increase in per additional the wedding is within the bounds of the confidence interval. (Round to three decimal places as needed.)

Use the Regression tool on the accompanying wedding data, using the wedding cost as the dependent variable and attendance as the independent variable. Complete parts a through c. Click the icon to view the wedding data. OA. The Y-intercept indicates that a wedding with an attendance of 0 people has a mean predicted cost of $bo B. The Y-intercept indicates that a wedding with a cost of $0 has a mean predicted attendance of by people. OC. It is not appropriate to interpret the Y-intercept because it is outside the range of observed wedding costs. D. It is not appropriate to interpret the Y-intercept because it is outside the range of observed attendances. Identify and interpret the meaning of the coefficient of determination in this problem. Select the correct choice below and fill in the answer box to complete your choice. (Round to three decimal places as needed.) Wedding Attendance and Cost Wedding Cost Attendance 58700 300 54000 350 45000 150 OA. The coefficient of determination is R2= This value is the proportion of variation in attendance that is explained by the variation in wedding cost. 42000 200 34000 250 OB. The coefficient of determination is R2= This value is the probability that the correlation between the variables is statistically significant. 31500 150 31000 250 Ос The coefficient of determination is R2 This value is the probability that the slope of the regression line is statistically significant. 30000 300 28000 250 D. The coefficient of determination is R = 0.561. This value is the proportion of variation in wedding cost that is explained by the variation in attendance. 28000 200 27000 150 Interpret the values given in the test of the population slope. Use a 0.05 level of significance. State the null and alternative hypotheses the test. 26000 200 24000 200 0 Ho B H₁₁ (Type integers or decimals. Do not round.) Identify the test statistic. t-5.42 (Round to two decimal places as needed.) Identify the p-value. The p-value is 0.000 (Round to three decimal places as needed.) State the conclusion. 22000 200 21000 200 21000 200 19000 100 18000 150 18000 200 18000 150 17000 100 15000 100 12000 150 7000 50 5000 Wedding Cost Attendance Reject H. There is sufficient evidence of a linear relationship between wedding cost and attendance. Identify and interpret the 95% confidence interval estimate of the population slope. The confidence interval is Print Done With 95% confidence, it can be said that true expected mean increase in per additional the wedding is within the bounds of the confidence interval. (Round to three decimal places as needed.)

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter8: Time Series Analysis And_forecasting

Section: Chapter Questions

Problem 5P: Consider the following time series data: Construct a time series plot. What type of pattern exists...

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