Elementary Statistics: A Step By Step Approach
10th Edition
ISBN: 9781259755330
Author: Allan G. Bluman
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 14.3, Problem 3E
Who is responsible for the development of modern simulation techniques?
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What can you say from the models given? Maybe about the multicollinearity.
Discuss the importance of a model being well documented.
Osteoporosis is a degenerative disease that primarily affects women over the age of 60. A research analyst wants to forecast sales of
StrongBones, a prescription drug for treating this debilitating disease. She uses the model Sales = B0 + B1 Population + B2 Income +
ε, where Sales is the sales of Strong Bones (in $1,000,000s), Population is the number of women over the age of 60 (in millions), and
Income is the average income of women over the age of 60 (in $1,000s). She collects data on 29 cities across the United States and
obtains the following regression results:
Coefficients
Standard
Error
t Stat
p-Value
Intercept
Population
Income
10.15
3.13
3.24
0.0071
8.45
1.11
7.61
0.0047
7.45
6.12
1.22
0.3468
a. What is the sample regression equation?
Note: Enter your answers in millions rounded to 2 decimal places.
Sales =
+
Population +
Income
b-1. Interpret the coefficient of population.
As the number of women over the age of 60 increases by 1 million, sales of Strong Bones is predicted to…
Chapter 14 Solutions
Elementary Statistics: A Step By Step Approach
Ch. 14.1 - The White or Wheat Bread Debate Read the following...Ch. 14.1 - Name the four basic sampling techniques.Ch. 14.1 - Why are samples used in statistics?Ch. 14.1 - What is the basic requirement for a sample?Ch. 14.1 - Why should random numbers be used when you are...Ch. 14.1 - List three incorrect methods that are often used...Ch. 14.1 - What is the principle behind random numbers?Ch. 14.1 - List the advantages and disadvantages of random...Ch. 14.1 - List the advantages and disadvantages of...Ch. 14.1 - List the advantages and disadvantages of...
Ch. 14.1 - List the advantages and disadvantages of cluster...Ch. 14.1 - Teacher Data Using the table of random numbers,...Ch. 14.1 - Prob. 12ECh. 14.1 - Teacher Data Select a cluster sample of 10 states,...Ch. 14.1 - Record High Temperatures Which method of sampling...Ch. 14.1 - Prob. 16ECh. 14.1 - Electoral Votes Select a systematic sample of 10...Ch. 14.1 - Electoral Votes Divide the 50 states into five...Ch. 14.1 - Prob. 19ECh. 14.1 - Define sampling or selection bias.Ch. 14.1 - Prob. 22ECh. 14.1 - Define nonresponsive bias.Ch. 14.1 - Prob. 24ECh. 14.1 - Define response or interview bias.Ch. 14.1 - Prob. 26ECh. 14.1 - Define volunteer bias.Ch. 14.1 - Give an example of how volunteer bias might occur.Ch. 14.2 - Prob. 1ACCh. 14.2 - Prob. 1ECh. 14.2 - Prob. 2ECh. 14.2 - Prob. 3ECh. 14.2 - Prob. 4ECh. 14.2 - Prob. 5ECh. 14.2 - Prob. 6ECh. 14.2 - Prob. 7ECh. 14.2 - Prob. 8ECh. 14.2 - Prob. 9ECh. 14.2 - Exercises 1 through 9 include questions that...Ch. 14.2 - Prob. 11ECh. 14.2 - Exercises 1 through 9 include questions that...Ch. 14.2 - Prob. 13ECh. 14.2 - Prob. 14ECh. 14.2 - Prob. 15ECh. 14.2 - Exercises 1 through 9 include questions that...Ch. 14.2 - Prob. 17ECh. 14.2 - Prob. 18ECh. 14.2 - Prob. 19ECh. 14.3 - Simulations Answer the following questions: 1....Ch. 14.3 - Prob. 1ECh. 14.3 - Prob. 2ECh. 14.3 - Who is responsible for the development of modern...Ch. 14.3 - Prob. 4ECh. 14.3 - Prob. 5ECh. 14.3 - Prob. 6ECh. 14.3 - Prob. 7ECh. 14.3 - Prob. 8ECh. 14 - Hurricanes Select a random sample of eight storms...Ch. 14 - Prob. 14.1.2RECh. 14 - Hurricanes Select a cluster of 10 storms. Compute...Ch. 14 - Prob. 14.1.4RECh. 14 - Prob. 14.1.5RECh. 14 - Prob. 14.1.6RECh. 14 - Prob. 14.1.8RECh. 14 - Prob. 14.2.9RECh. 14 - Prob. 14.2.10RECh. 14 - Prob. 14.2.11RECh. 14 - Prob. 14.2.12RECh. 14 - Prob. 1DACh. 14 - Prob. 2DACh. 14 - Select a cluster sample of 20 individuals, and...Ch. 14 - Prob. 4DACh. 14 - Prob. 5DACh. 14 - Determine whether each statement is true or false....Ch. 14 - Prob. 2CQCh. 14 - Prob. 3CQCh. 14 - Prob. 4CQCh. 14 - Prob. 5CQCh. 14 - Prob. 6CQCh. 14 - Interviewing selected people at a local...Ch. 14 - Prob. 8CQCh. 14 - Prob. 9CQCh. 14 - Prob. 10CQCh. 14 - Blood Pressure Select a random sample of 12...Ch. 14 - Prob. 12CQCh. 14 - Blood Pressure Divide the individuals into...Ch. 14 - Prob. 14CQCh. 14 - Prob. 25CQCh. 14 - Prob. 26CQCh. 14 - Prob. 27CQCh. 14 - Prob. 28CQCh. 14 - For Exercises 2530, explain why the survey...Ch. 14 - Prob. 30CQCh. 14 - Prob. 1DP
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- Osteoporosis is a degenerative disease that primarily affects women over the age of 60. A research analyst wants to forecast sales of StrongBones, a prescription drug for treating this debilitating disease. She uses the model Sales = B0 + B1 Population + B2 Income + ε, where Sales is the sales of Strong Bones (in $1,000,000s), Population is the number of women over the age of 60 (in millions), and Income is the average income of women over the age of 60 (in $1,000s). She collects data on 29 cities across the United States and obtains the following regression results: Intercept Population Income Coefficients 10.15 Standard Error t Stat p-Value 3.13 3.24 0.0071 8.45 1.11 7.61 0.0047 7.45 6.12 1.22 0.3468 a. What is the sample regression equation? Note: Enter your answers in millions rounded to 2 decimal places. Sales = + Population + Income b-1. Interpret the coefficient of population. ○ As the number of women over the age of 60 increases by 1 million, sales of Strong Bones is predicted…arrow_forwardWhat does the fish population of the lake approach in the long run?arrow_forwardThe Minister of National Security in Trinidad and Tobago is interested in determining the factors that influence the number of crimes that are reported. You are tasked to develop a model using the appropriate variables. The following variables are utilized: X1 = total overall reported crime rate per 100,000 residents X2 = reported violent crime rate per 100,000 residents X3 = % of people 25 years+ with 4 yrs. of high school X4 = % of 16 to 19-year-olds not in high school and not high school graduates. X5 = % of 18 to 24-year-olds in college X6 = % of people 25 years+ with at least 4 years of college X1 X2 X3 X4 X5 X6 478 184 74 11 31 20 494 213 72 11 43 18 643 347 70 18 16 16 341 565 71 11 25 19 773 327 72 9 29 24 603 260 68 8 32 15 484 325 68 12 24 14 546 102 62 13 28 11 424 38 69 7 25 12 548 226 66 9 58 15 506 137 60 13…arrow_forward
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