Basic Business Statistics, Student Value Edition
14th Edition
ISBN: 9780134685113
Author: Mark L. Berenson, David M. Levine, David F. Stephan, Kathryn Szabat
Publisher: PEARSON
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Chapter 15, Problem 38PS
To determine
Develop the most appropriate multiple regression to predict the Thickness of alloy layer.
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Exercise 13-60 (Algo) (LO13-5)
Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the distance between the burning house and the nearest fire station. This information will be used in setting rates for insurance coverage. For a sample of 30 claims for the last year, the director of the actuarial department determined the distance from the fire station (x) and the amount of fire damage, in thousands of dollars (y). The MegaStat output is reported here:
ANOVA table
Source
SS
df
MS
F
Regression
1,835.5782
1
1,835.5782
40.4537
Residual
1,270.4934
28
45.3748
Total
3,106.0716
29
Regression output
Variables
Coefficients
Std. Error
t(df=28)
Intercept
14
3.1125
2.34
Distance–X
6
0.8778
6.36
Click here for the Excel Data File
a-1. Determine the regression equation. (Round your answers to 3 decimal places.)
a-2. Is there a direct or indirect relationship between the distance from…
Cellulon, a manufacturer of home insulation, wants to develop guidelines for builders and consumers on how the thickness of the
insulation in the attic of a home and the outdoor temperature affect natural gas consumption. In the laboratory, it varied the insulation
thickness and temperature. A few of the findings are:
Monthly Natural
Gas Consumption
(cubic feet),
Thickness of
Outdoor
Insulation
Temperature
(OF),
(inches),
X1
X2
30.3
6.
40
26.9
12
40
22.1
49
On the basis of the sample results, the regression equation is:
ŷ = 62.65 – 1.86x, – 0.52x2
a. How much natural gas can homeowners expect to use per month if they install 6 inches of insulation and the outdoor temperature is
40 degrees F? (Round your answer to 2 decimal places.)
Natural gas
cubic feet
b. What effect would installing 7 inches of insulation instead of 6 have on the monthly natural gas consumption (assuming the outdoor
temperature remains at 40 degrees F)? (Round your answers to 2 decimal places.)
cubic feet.
decrease…
Chapter 15 Solutions
Basic Business Statistics, Student Value Edition
Ch. 15 - The following is the quadratic regression equation...Ch. 15 - Business actively recruit business student with...Ch. 15 - A study was conducted on automobile engines to...Ch. 15 - Prob. 4PSCh. 15 - In the production of printed circuit boards,...Ch. 15 - An automotive sales manager wishes to examine the...Ch. 15 - Researchers wanted to investigate the relationship...Ch. 15 - Prob. 8PSCh. 15 - Prob. 9PSCh. 15 - Prob. 10PS
Ch. 15 - Using the data of Problem 15.4 on page 600, stored...Ch. 15 - Using the data of Problem 15.6 on page 601, stored...Ch. 15 - Using the data of Problem 15.6 on page 601 stored...Ch. 15 - If the coefficient of determination between two...Ch. 15 - If the coefficient of determination between two...Ch. 15 - Prob. 16PSCh. 15 - Refer to Problem 14.5 on page 542. Perform a...Ch. 15 - Refer to Problem 14.6 on page 542. Perform a...Ch. 15 - Refer to Problem 14.7 on page 542. Perform a...Ch. 15 - Refer to Problem 14.8 on page 542. Perform a...Ch. 15 - Prob. 21PSCh. 15 - Prob. 22PSCh. 15 - Prob. 23PSCh. 15 - You need to develop a model to predict the asking...Ch. 15 - Accounting Today identified top public accounting...Ch. 15 - How can you evaluate whether collinearity exists...Ch. 15 - Prob. 27PSCh. 15 - Prob. 28PSCh. 15 - A Specialist in baseball analytics has expanded...Ch. 15 - In the production of printed circuit boards,...Ch. 15 - Hemlock Farms is a community located in the Pocono...Ch. 15 - Prob. 32PSCh. 15 - Prob. 33PSCh. 15 - Prob. 34PSCh. 15 - You are a real estate broker who wants to compare...Ch. 15 - You are a real estate broker who wants to compare...Ch. 15 - Financial analysts engage in business valuation to...Ch. 15 - Prob. 38PSCh. 15 - A molding machine that contains different cavities...Ch. 15 - The file Cites contains a sample of 25 cities in...Ch. 15 - In problem 15.32-15.36 you developed multiple...
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- Oil ProductionThe following table shows the amount of crude oil in billions of barrels produced in the United States in recent years. Source: U.S. Energy Information Administration. Year Crude Oil Produced 2002 2.097 2003 2.060 2004 1.989 2005 1.893 2006 1.857 2007 1.853 2008 1.830 2009 1.954 2010 2.000 2011 2.063 2012 2.377 In this exercise we are interested in the total amount of crude oil produced over the 10-year period from mid-2002 to mid-2012, using the data for the 11 years above. One approach is to sum up the numbers in the second column, but only count half of the first and last numbers. Give the answer to this calculation. Approximate the amount of crude oil produced over the 10-year period 2002-2012 by taking the average of the left endpoint sum and the right endpoint sum. Explain why this is equivalent to the calculation done in part a. This is also equivalent to a formula known as the trapezoidal rule, discussed in the next chapter. If your calculator has a cubic regression feature, find the best-fitting cubic function for these data, letting t=0 correspond to 2000. Then integrate this equation over the interval [2.12] to estimate the amount of crude oil produced over this time period. Compare with your answer to part a.arrow_forwardSolar energy generation along highways. The potential of using solar panels constructed above national highways to generate energy was explored in the International Journal of Energy and Environmental Engineering (December 2013). Two-layer solar panels (with 1 meter separating the panels) were constructed above sections of both east-west and north-south highways in India. The amount of (kilowatt-hours) supplied to the country's grid by the solar panels above the two types of highways was determined each month. The data for several randomly selected months are provided in the table. The researchers concluded that the "two-layer solar panel energy generation is more viable for the north-south oriented highways as compared to east- west oriented roadways." Compare the mean solar energy amounts generated for the two types of highways using a 95% confidence interval. Does the interval support the re- energy searchers' conclusion? Month East-West North-South February April July September…arrow_forwardSteel Strength_vs_Carbon_Content_data Steel Grade Nominal Carbon Fatigue Yield Ultimate Hardness 9254 0.54 845 2270 1070 0.7 533 1950 8620 0.8 458 920 8695 0.95 401 780 8695 0.95 509 847 6150 0.5 307 1878 1552 0.52 257 933 2450 2069 1202 1496 979 2343 933 584 613 583 539 539 555 601arrow_forward
- The euphotic zone is the upper 200 m layer of the oceans. Very little sunlight penetrates deeper than 200 m, so most plants live in the euphotic zone. As a result, 70% of all photosynthesis on Earth occurs in the euphotic zone of the oceans. The following table gives light penetration data for the location in the Pacific Ocean. Depth (m) Penetration of Sunlight (%) 0.01 100 20 54.37 40 29.57 60 16.08 80 8.74 100 4.76 a. Determine the equation of the logarithmic regression by using LOG or LN function on your TI-83 Plus graphic calculator. b. Using your equation obtained from a), determine the depth with a sunlight penetration of 35%. Express your answer to the nearest tenth of meter.arrow_forwardA researcher studies water clarity at the same location in a lake on the same dates during the course of a year and repeats the measurements on the same dates 5 years later. The researcher immerses a weighted disk painted black and white and measures the depth (in inches) at which it is no longer visible. The collected data is given in the table below. Complete parts (a) through (c) below Observation 1 2 3 4 5 6 1/25 3/19 5/30 7/3 9/13 11/7 41.6 72.7 72.4 65.9 64.2 68.6 49.3 72.1 76.6 69.4 69.8 70.5 Date Initial Depth, X, Depth Five Years Later, Y, a) Why is it important to take the measurements on the same date? CA. Using the same dates makes it easier to remember to take samples. B. Using the same dates maximizes the difference in water clarity. OC. Those are the same dates that all biologists use to take water clarity samples. D. Using the same dates makes the second sample dependent on the first and reduces variability in water clarity attributable to date. b) Does the evidence…arrow_forward
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