In Outliers: The Story of Success (Little, Brown, 2008), the author notes that a disproportionate number of software millionaires were born around the year 1955. Is this a coincidence, or does birth year matter when gauging whether a software founder will be successful? On his Web blog (www.measuringusability.com), statistical consultant Jeff Sauro investigated this question by analyzing the data shown

In Outliers: The Story of Success (Little, Brown, 2008), the author notes that a disproportionate number of software millionaires were born around the year 1955. Is this a coincidence, or does birth year matter when gauging whether a software founder will be successful? On his Web blog (www.measuringusability.com), statistical consultant Jeff Sauro investigated this question by analyzing the data shown in the table below.
In Outliers: The Story of Success (Little, Brown, 2008), the

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.

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Related Book For answer-question

Statistics For Business And Economics

12th Edition

Authors: James T. McClave, P. George Benson, Terry T Sincich

ISBN: 9780321826237