Business Statistics: A First Course (7th Edition)
7th Edition
ISBN: 9780321979018
Author: David M. Levine, Kathryn A. Szabat, David F. Stephan
Publisher: PEARSON
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13. Examine the following regression equation and answer the questions that follow:
Salary = 261,128 +91,569Goals + 16,346Assists - 585,560.Defenseman
(2.789) (9.641)
(3.301) (5.001)
R² = 0.65
Salary = NHL Player's Salary in $
Goals Number of goals scored by that player
Assists = Number of assists made by that player
Defenseman = Takes on a value of 1 if player is a defenseman. Otherwise, the value of this
variable is zero.
The numbers in brackets are t-statistics for the variables above them.
(a)
What salary will an offensive player make that scores no goals and has no assists?
Interpret the meaning of the R² in words.
(b)
(c)
What is the increase in salary from scoring one more goal (holding the number of assists
constant)?
Need help with entirety of the problem.
Kindly answer the question on the second picture using the data in the first picture. Thank you
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- Jensen, Solberg, and Zorn investigated the relationship of insider ownership, debt, and dividend policies in companies. One of their findings was that firms with high insider ownership choose lower levels of both debt and dividends. Shown here is a sample of data of these three variables for 11 different industries. Use the data to develop the equation of the regression model to predict insider ownership by debt ratio and dividend payout. Comment on the regression coefficients.arrow_forwardRestaurant Digest, a famous restaurant magazine writes that the amount of tips servers get in Florida is affected by several factors including the amount of bill, number of adult diners as well as kids and the income of the diners. Use the data below to answer the following questions: Find the multiple regression model. At a level of significance of 0.03, is there a significance relationship between the amount of tip and at least one of the independent variables? What is the likely amount of tip if a group of diners spend $40.33 and had an annual income of $81,000. The diners included 4 adults and 3 kids? What percent of the variation in amount of tip is accounted for by amount of bill, annual income, number of adults and kids? Customer Amount of Tip Amount of Bill Number of adult Diners Number of kids Annual Income 1 $ 7.00 $ 48.97 5 3 100000 2 $ 4.50 $ 28.23 4 3 80000 3…arrow_forwarda. PLease Determine the explanatory and response variables from the table. b. What is the equation of the regression line and what is the meaning of the slope regression line in this context? c. What is the predicted income for someone who has 3 years of work experience?arrow_forward
- The hiring managers want to compare three different employment sources: Newspaper/Magazine, CareerBuilder, and Monster.com. Perform simple regressions as you did above predicting allocations for month 13 for those three employment sources. Which of the following statements would be the best conclusion from your analysis? The model R-square for Monster.com is the highest R-square value of the three platforms. Therefore, management will likely provide the most funding for that platform, and we should focus on that above the other two. The models for Monster.com and Newspaper/Magazine are both significant, which means we should focus on these two platforms over CareerBuilder because management will likely provide us the most funding for those two platforms. The predicted monthly amount for CareerBuilder is lower than the predicted amount for Newspaper/Magazine. Therefore, they should expect the lowest amount of funding for CareerBuilder out of all of the three, and should concentrate on…arrow_forwardUse the Financial database from “Excel Databases.xls” on Blackboard. Use Total Revenues, Total Assets, Return on Equity, Earnings Per Share, Average Yield, and Dividends Per Share to predict the average P/E ratio for a company. Use Excel to develop the multiple linear regression model. Assume a 5% level of significance. Which independent variable is the strongest predictor of the average P/E ratio of a company? A. Total Revenues B. Average Yield C. Earnings Per Share D.Return on Equity E. Total Assets F.Dividends Per Share Company Type Total Revenues Total Assets Return on Equity Earnings per Share Average Yield Dividends per Share Average P/E Ratio AFLAC 6 7251 29454 17.1 2.08 0.9 0.22 11.5 Albertson's 4 14690 5219 21.4 2.08 1.6 0.63 19 Allstate 6 20106 80918 20.1 3.56 1 0.36 10.6 Amerada Hess 7 8340 7935 0.2 0.08 1.1 0.6 698.3 American General 6 3362 80620 7.1 2.19 3 1.4 21.2 American Stores 4 19139 8536 12.2 1.01 1.4 0.34 23.5 Amoco 7 36287…arrow_forward4. Professional basketball has truly become a sport that generates interest among fans around the world. More and more players come from outside the United States to play in the National Basketball Association (NBA). You want to develop a regression model to predict the number of wins achieved by each NBA team, based on field goal (shots made) percentage and three-point field goal percentage for the team. The data are stored in NBA. a. State the multiple regression equation. b. Interpret the meaning of the slopes in this equation. c. Predict the mean number of wins for a team that has a field goal percentage of 45% and a three-point field goal percentage of 37%. d. Perform a residual analysis on your results and determine whether the regression assumptions are valid. e. Is there a significant relationship between number of wins and the two independent variables (field goal percentage and three-point field goal percentage for the team) at the 0.05 level of significance? f. g. h.…arrow_forward
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