An economic organization tracks summary statistics of various countries. These include GDP (gross domestic product per...
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An economic organization tracks summary statistics of various countries. These include GDP (gross domestic product per capita) and trade balances (measured as a percentage of GDP). Exporting countries tend to have large positive trade balances. Importers have negative balances. The data are shown in the accompanying table. Formulate the SRM with GDP as the response and Trade Balance as the explanatory variable. Complete parts (a) through (c) below. Click the icon o view the data table. Find the least squares equation without country X. Complete the equation below. Estimated GDP ($ per cap) =+ Trade Bal (% GDP) (Round to the nearest integer as needed.). Find the least squares equation with country X. Complete the equation below. Estimated GDP ($ per cap) =+ Trade Bal (% GDP) (Round to the nearest integer as needed.) Compare the intercepts and the slopes for the two least squares equations. Since the 95% confidence interval for the intercept from the original model without country X slope from the original model the intercept from new model, the slopes (b) Explain any differences between and se for the two fits considered in part (a). the intercept from the new model with the country X, the intercepts ▼ significantly different. significantly different. Since the 95% confidence interval for the OA. The value of r² is significantly larger for the new model with country X. This is because country X has the largest response. The value of s, is significantly larger for the new model with country X. This is also because country X has the largest response. OB. The value of r² does not change significantly because country X is fairly close to the least squares regression line. The value of s, is significantly larger for the new model with country X. This is because country X has the largest response. OC. The value of r² is significantly larger for the new model with country X. This is because country X has the largest response. The value of s does not change significantly because the residual for country X is typical. (c) Country X has the second smallest population among the countries. Does this explain the size of the difference between the two equations in part (a)? Explain. O A. No; unless country X has an extreme population compared to the other countries, population size does not explain the difference between the two equations in part (a). OB. Yes; population size is a lurking variable since it affects the GDF trade balance for country X could I due to its siz which is smaller than most of the other countries. OC. No; the regression models do not take the sizes of the countries into account. O D. All of the population data must be provided in order to answer this question. An economic organization tracks summary statistics of various countries. These include GDP (gross domestic product per capita) and trade balances (measured as a percentage of GDP). Exporting countries tend to have large positive trade balances. Importers have negative balances. The data are shown in the accompanying table. Formulate the SRM with GDP as the response and Trade Balance as the explanatory variable. Complete parts (a) through (c) below. Click the icon to view the data table. Find the least squares equation without country X. Complete the equation below. Estimated GDP ($ per cap) =+ Trade Bal (% GDP) (Round to the nearest integer as needed.) Find the least squares equation with country X. Complete the equation below. Estimated GDP ($ per cap) =+ Trade Bal (% GDP) (Round to the nearest integer as needed.) Compare the intercepts and the slopes for the two least squares equations. Since the 95% confidence interval for the intercept from the original model without country X slope from the original model the intercept from new model, the slopes (b) Explain any differences between ² and so for the two fits considered in part (a). OA. The value of r2 is significantly larger for the new model with country X. This is because response. OB. The value of r² does not change significantly because country X is fairly close to the le OC. The value of r² is significantly larger for the new model with country X. This is because (c) Country X has the second smallest population among the countries. Does this explain the O A. No; unless country X has an extreme population compared to the other countries, pop O B. Yes; population size is a lurking variable since it affects the GDP. The trade balance fo OC. No; the regression models do not take the sizes of the countries into account. O D. All of the population data must be provided in order to answer this question. Data Table Trade Balance (% GDP) 6.9 13.1 -3.5 -5.8 9 9.9 7.3 14.2 -0.6 7 15.2 4.6 4.2 -1.3 -4.2 2.2 -4.4 7.2 2.7 -5.6 Print GDP ($ per capita) 48,842 59,555 10,762 33,467 26,563 45,205 38,112 38,278 11,963 46,864 34.739 48,197 14.029 16,881 31,226 17,516 30,606 56,514 45,967 5,946 Done - X k, the intercepts significantly different. Since the 95% confidence interval for the arger for the new model with country X. This is also because country X has the largest the new model with country X. This is because country X has the largest response. e significantly because the residual for country X is typical. s in part (a). other countries. An economic organization tracks summary statistics of various countries. These include GDP (gross domestic product per capita) and trade balances (measured as a percentage of GDP). Exporting countries tend to have large positive trade balances. Importers have negative balances. The data are shown in the accompanying table. Formulate the SRM with GDP as the response and Trade Balance as the explanatory variable. Complete parts (a) through (c) below. Click the icon o view the data table. Find the least squares equation without country X. Complete the equation below. Estimated GDP ($ per cap) =+ Trade Bal (% GDP) (Round to the nearest integer as needed.). Find the least squares equation with country X. Complete the equation below. Estimated GDP ($ per cap) =+ Trade Bal (% GDP) (Round to the nearest integer as needed.) Compare the intercepts and the slopes for the two least squares equations. Since the 95% confidence interval for the intercept from the original model without country X slope from the original model the intercept from new model, the slopes (b) Explain any differences between and se for the two fits considered in part (a). the intercept from the new model with the country X, the intercepts ▼ significantly different. significantly different. Since the 95% confidence interval for the OA. The value of r² is significantly larger for the new model with country X. This is because country X has the largest response. The value of s, is significantly larger for the new model with country X. This is also because country X has the largest response. OB. The value of r² does not change significantly because country X is fairly close to the least squares regression line. The value of s, is significantly larger for the new model with country X. This is because country X has the largest response. OC. The value of r² is significantly larger for the new model with country X. This is because country X has the largest response. The value of s does not change significantly because the residual for country X is typical. (c) Country X has the second smallest population among the countries. Does this explain the size of the difference between the two equations in part (a)? Explain. O A. No; unless country X has an extreme population compared to the other countries, population size does not explain the difference between the two equations in part (a). OB. Yes; population size is a lurking variable since it affects the GDF trade balance for country X could I due to its siz which is smaller than most of the other countries. OC. No; the regression models do not take the sizes of the countries into account. O D. All of the population data must be provided in order to answer this question. An economic organization tracks summary statistics of various countries. These include GDP (gross domestic product per capita) and trade balances (measured as a percentage of GDP). Exporting countries tend to have large positive trade balances. Importers have negative balances. The data are shown in the accompanying table. Formulate the SRM with GDP as the response and Trade Balance as the explanatory variable. Complete parts (a) through (c) below. Click the icon to view the data table. Find the least squares equation without country X. Complete the equation below. Estimated GDP ($ per cap) =+ Trade Bal (% GDP) (Round to the nearest integer as needed.) Find the least squares equation with country X. Complete the equation below. Estimated GDP ($ per cap) =+ Trade Bal (% GDP) (Round to the nearest integer as needed.) Compare the intercepts and the slopes for the two least squares equations. Since the 95% confidence interval for the intercept from the original model without country X slope from the original model the intercept from new model, the slopes (b) Explain any differences between ² and so for the two fits considered in part (a). OA. The value of r2 is significantly larger for the new model with country X. This is because response. OB. The value of r² does not change significantly because country X is fairly close to the le OC. The value of r² is significantly larger for the new model with country X. This is because (c) Country X has the second smallest population among the countries. Does this explain the O A. No; unless country X has an extreme population compared to the other countries, pop O B. Yes; population size is a lurking variable since it affects the GDP. The trade balance fo OC. No; the regression models do not take the sizes of the countries into account. O D. All of the population data must be provided in order to answer this question. Data Table Trade Balance (% GDP) 6.9 13.1 -3.5 -5.8 9 9.9 7.3 14.2 -0.6 7 15.2 4.6 4.2 -1.3 -4.2 2.2 -4.4 7.2 2.7 -5.6 Print GDP ($ per capita) 48,842 59,555 10,762 33,467 26,563 45,205 38,112 38,278 11,963 46,864 34.739 48,197 14.029 16,881 31,226 17,516 30,606 56,514 45,967 5,946 Done - X k, the intercepts significantly different. Since the 95% confidence interval for the arger for the new model with country X. This is also because country X has the largest the new model with country X. This is because country X has the largest response. e significantly because the residual for country X is typical. s in part (a). other countries.
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Operations Management Creating Value Along the Supply Chain
ISBN: 978-1118301173
1st Canadian Edition
Authors: Roberta S. Russell, Bernard W. Taylor, Ignacio Castillo, Navneet Vidyarthi
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