In Outliers: The Story of Success (Little, Brown, 2008), the author notes that a disproportionate number of
Question:
a. Fit a simple linear regression model relating number (y) of software millionaire birthdays in a decade to total number (x) of U.S. births. Give the least squares prediction equation.
b. Practically interpret the estimated y-intercept and slope of the model, part a.
c. Predict the number of software millionaire birthdays that will occur in a decade where the total number of U.S. births is 35 million.
d. Fit a simple linear regression model relating number (y) of software millionaire birthdays in a decade to number (x) of CEO birthdays. Give the least squares prediction equation.
e. Practically interpret the estimated y-intercept and slope of the model, part d.
f. Predict the number of software millionaire birthdays that will occur in a decade where the number of CEO birthdays (from a random sample of 70 companies) is 10.
Step by Step Answer:
Statistics For Business And Economics
ISBN: 9780321826237
12th Edition
Authors: James T. McClave, P. George Benson, Terry T Sincich