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Statistics For Business And Economics 8th Edition Paul Newbold, William Carlson, Betty Thorne - Solutions

Stuart Wainwright, the vice president of purchasing for a large national retailer, has asked you to prepare an analysis of retail sales by state. He wants to know if either the percent of male unemployment or the per capita disposable income are related to per capita retail sales. Data for this
A major national supplier of building materials for residential construction is concerned about total sales for next year. It is well known that the company's sales are directly related to the total national residential investment. Several New York bankers are predicting that interest rates will
A prestigious national news service has gathered information on a number of nationally ranked private colleges; these data are contained in the data file Private Colleges. You have been asked to determine if the student/faculty ratio has an influence on the quality rating. Note that the smallest
A prestigious national news service has gathered information on a number of nationally ranked private colleges; these data are contained in the data file Private Colleges. You have been asked to determine if the student/faculty ratio has an influence on the total annual cost after need-based
A prestigious national news service has gathered information on a number of nationally ranked private colleges; these data are contained in the data file Private Colleges. You have been asked to determine if the total cost after need-based aid has an influence on average debt. Prepare and analyze
Given the regression equationY = 43 + 10Xa. What is the change in Y when X changes by +8?b. What is the change in Y when X changes by -6?c. What is the predicted value of Y when X = 11?d. What is the predicted value of Y when X = 29?e. Does this equation prove that a change in X causes a change in
A prestigious national news service has gathered information on a number of nationally ranked private colleges; these data are contained in the data file Private Colleges. You have been asked to determine if the percentage of students admitted has an influence on the 4-year graduation rate. Prepare
A prestigious national news service has gathered information on a number of nationally ranked private colleges; these data are contained in the data file Private Colleges. You have been asked to determine if the student faculty ratio has an influence on the 4-year graduation rate. Prepare and
You have been asked to study the relationship between median income and poverty rate at the county level. After some investigation you determine that the data file Food Nutrition Atlas includes both these measures for county-level data. Perform an appropriate analysis and report your conclusions.
The federal nutrition guidelines prepared by the Center for Nutrition Policy and Promotion of the U.S. Department of Agriculture stress the importance of eating substantial servings of fruits and vegetables to obtain a healthy diet. You have been asked to determine if the per capita consumption of
The federal nutrition guidelines prepared by the Center for Nutrition Policy and Promotion of the U.S. Department of Agriculture stress the importance of eating substantial servings of fruits and vegetables to obtain a healthy diet. You have been asked to determine if the per capita consumption of
The federal nutrition guidelines prepared by the Center for Nutrition Policy and Promotion of the U.S. Department of Agriculture stress the importance of eating reduced amounts of meat to obtain a healthy diet. You have been asked to determine if the per capita consumption of meat at the county
The federal nutrition guidelines prepared by the Center for Nutrition Policy and Promotion of the U.S. Department of Agriculture stress the importance of eating reduced amounts of meat to obtain a healthy diet. You have been asked to determine if the per capita consumption of meat at the county
There is a belief among many people that a healthy diet will cost more than a less healthy diet. Using research based on the available population survey data, can you conclude that a healthy diet will in fact cost more than a less healthy diet? Using the daily cost and the measure of HEI, provide
A group of social workers who work with lowincome people have argued that the poverty income ratio is directly related to the quality of an individual person's diet. That is, people with higher ratios will be more likely to have higher-quality diets, and those with lower ratios will have
A number of nutritionists have argued that fastfood restaurants have a negative effect on nutrition quality. In this exercise you are asked to determine if there is evidence to conclude that increasing the number of meals at fast-food restaurants will have a negative effect on diet quality. In
Given the estimated linear modely` = 10 + 3x1 + 2x2 + 4x3a. Compute yn when x1 = 20, x2 = 11, and x3 = 10.b. Compute yn when x1 = 15, x2 = 14, and x3 = 20.c. Compute yn when x1 = 35, x2 = 19, and x3 = 25.d. Compute yn when x1 = 10, x2 = 17, and x3 = 30.
Compute the coefficients b1 and b2 for the regression modely`i = b0 + b1x1i + b2x2igiven the following summary statistics.a. rx1y = 0.60, rx2y = 0.70, rx1x2 = 0.50,sx1 = 200, sx2 = 100, sy = 400b. rx1y = -0.60, rx2y = 0.70, rx1x2 = -0.50,sx1 = 200, sx2 = 100, sy = 400c. rx1y = 0.40, rx2y = 0.450,
Use the data in the file Citydatr to estimate a regression equation that can be used to determine the marginal effect of the percent of commercial property on the market value per owner-occupied residence.Include the percent of owner-occupied residences, the percent of industrial property, the
The administrator of the National Highway Traffic Safety Administration (NHTSA) wants to know if the different types of vehicles in a state have a relationship to the highway death rate in the state. She has asked you to develop multiple regression analyses to determine if the average vehicle
The Department of Transportation wishes to know if states with a larger percentage of urban population have higher automobile and pickup crash death rates. In addition, it wants to know if the variable average speed on rural roads or the variable percentage of rural roads that are surfaced is
An economist wishes to predict the market value of owner-occupied homes in small midwestern cities. He has collected a set of data from 45 small cities for a 2-year period and wants you to use this as the data source for the analysis. The data are in the file Citydatr the variables are described in
Stuart Wainwright, the vice president of purchasing for a large national retailer, has asked you to prepare an analysis of retail sales by state. He wants to know if the percent of unemployment for males and for females and the per capita disposable income are jointly related to the per capita
A major national supplier of building materials for residential construction is concerned about total sales for next year. It is well known that the company's sales are directly related to the total national residential investment. Several New York bankers are predicting that interest rates will
The Center for Disease Control (CDC) is interested in knowing if there are state-level population characteristics that predict the occurrence of breast cancer death rates and the occurrence of lung cancer death rates. The data file Staten, whose variables are described in the chapter appendix,
You have been hired as a consultant to analyze the salary structure of Energy Futures, Inc., a firm that produces designs for solar energy applications. The company has operated for a number of years, and in recent years there have been an increasing number of complaints that the salaries paid to
Use the data in the data file named Student GPA, which is described in the Chapter 11 appendix, to develop a model to predict a student's grade point average in economics. Begin with the variables ACT scores, gender, and HSpct.a. Use appropriate statistical procedures to choose a subset of
You have been asked to develop a model that will predict home prices as a function of important economic variables. After considerable research, you locate the work of Prof. Robert Shiller, Princeton University. Shiller has compiled data for housing costs beginning in 1890. The data file Shiller
Consider the following estimated linear regression equations:Y = a0 + a1X1 Y = b0 + b1X1 + b2X2a. Show in detail the coefficient estimators for a1 and b1 when the correlation between X1 and X2 is equal to 0.b. Show in detail the coefficient estimators for a1 and b1 when the correlation between X1
A major real estate developer has asked you to determine the effect of the interval between house sales, and the initial house sales price on second or final sales price with adjustments for the four major U.S. market areas identified in the data set. The data on housing prices are stored in the
A group of activists in Peaceful, Montana, are seeking increased development for this pristine enclave, which has received some national recognition on the television program Four Dirty Old Men. The group claims that increased commercial and industrial development will bring new prosperity and
You have been asked to develop a model that will predict the percentage of students who graduate in 4 years from highly ranked private colleges.The data file Private Colleges contains data collected by a national news service; descriptions of the predictor variables are contained in the Chapter 12
You have been asked to develop a model that will predict the cost with financial aid for students at highly ranked private colleges. The data file Private Colleges contains data collected by a national news service. Variables are identified in the Chapter 12 appendix.a. Specify a list of potential
You are asked to develop a multiple regression model that indicates the relationship between a person's physical characteristics and the quality of diet consumed as measured by the Healthy Eating Index (HEI-2005). The predictor variables to be used are a doctor's diagnosis of high blood pressure
You are asked to develop a multiple regression model that indicates the relationship between a person's behavioral characteristics and the quality of diet consumed as measured by the Healthy Eating Index (HEI-2005). The predictor variables to be used are whether subject limited weight (sr did lm
You are asked to develop a multiple regression model that indicates the relationship between a person's physical characteristics and the daily cost of food (daily cost). The predictor variables to be used are a doctor's diagnosis of high blood pressure (doc bp), the ratio of waist measure to obese
You are asked to develop a multiple regression model that indicates the relationship between a person's behavioral characteristics and the daily cost of food (daily cost). The predictor variables to be used are subject's limiting weight (sr did lm wt), subject being a smoker (smoker), subject's
Amalgamated Power, Inc., has asked you to estimate a regression equation to determine the effect of various predictor variables on the demand for electricity sales. You will prepare a series of regression estimates and discuss the results using the quarterly data for electrical sales during the
Transportation Research, Inc., has asked you to prepare some multiple regression equations to estimate the effect of variables on fuel economy. The data for this study are contained in the data file Motors, and the dependent variable is miles per gallon-milpgal-as established by the Department of
Transportation Research, Inc., has asked you to prepare some multiple regression equations to estimate the effect of variables on vehicle horsepower. The data for this study are contained in the data file Motors, and the dependent variable is vehicle horsepower-horsepower-as established by the
A regression analysis has produced the following analysis of variance table:a. Compute se and s2Îµ.b. Compute SST.c. Compute R2 and the adjusted coefficient of determination.
A regression analysis has produced the following analysis of variance table:a. Compute se and s2Îµ.b. Compute SST.c. Compute R2 and the adjusted coefficient of determination.
A regression analysis has produced the following analysis of variance table:a. Compute se and s2Îµ.b. Compute SST.c. Compute R2 and the adjusted coefficient of determination.
A regression analysis has produced the following analysis of variance table:a. Compute se and s2Îµ.b. Compute SST.c. Compute R2 and the adjusted coefficient of determination.
An aircraft company wanted to predict the number of worker-hours necessary to finish the design of a new plane. Relevant explanatory variables were thought to be the plane’s top speed, its weight, and the number of parts it had in common with other models built by the company. A sample of 27 of
Given the estimated linear modely` = 10 + 5x1 + 4x2 + 2x3a. Compute yn when x1 = 20, x2 = 11, and x3 = 10.b. Compute yn when x1 = 15, x2 = 14, and x3 = 20.c. Compute yn when x1 = 35, x2 = 19, and x3 = 25.d. Compute yn when x1 = 10, x2 = 17, and x3 = 30.
The following model was fitted to a sample of 30 families in order to explain household milk consumption:y = β0 + β1x1 + β2x2 + εwherey = milk consumption, in quarts per weekx1 = weekly income, in hundreds of dollarsx2 = family sizeThe least squares estimates of the regression parameters were
The following model was fitted to a sample of 25 students using data obtained at the end of their freshman year in college. The aim was to explain students’ weight gains: y = β0 + β1x1 + β2x2 + β3x3 + ε where y = weight gained, in pounds, during freshman year x1 = average number of meals
Refer to the savings and loan association data given in Table 12.1.a. Estimate, by least squares, the regression of profit margin on number of offices.b. Estimate, by least squares, the regression of net revenues on number of offices.c. Estimate, by least squares, the regression of profit margin on
The following are results from a regression model analysis:The numbers below the coefficient estimates are the sample standard errors of the coefficient estimates.a. Compute two-sided 95% confidence intervals for the three regression slope coefficients.b. For each of the slope coefficients, test
The following are results from a regression model analysis:The numbers below the coefficient estimates are the estimated coefficient standard errors.a. Compute two-sided 95% confidence intervals for the three regression slope coefficients.b. For each of the slope coefficients test the hypothesisH0
The following are results from a regression model analysis:The numbers in parentheses under the coefficients are the estimated coefficient standard errors.a. Compute two-sided 95% confidence intervals for the three regression slope coefficients.b. For each of the slope coefficients test the
The following are results from a regression model analysis:The numbers in parentheses under the coefficients are the estimated coefficient standard errors.a. Compute two-sided 95% confidence intervals for the three regression slope coefficients.b. For each of the slope coefficients test the
An aircraft company wanted to predict the number of worker-hours necessary to finish the design of a new plane. Relevant explanatory variables were thought to be the plane’s top speed, its weight, and the number of parts it had in common with other models built by the company. A sample of 27 of
The following model was fitted to a sample of 30 families in order to explain household milk consumption:y = β0 + β1x1 + β2x2 + εwherey = milk consumption, in quarts per weekx1 = weekly income, in hundreds of dollarsx2 = family sizeThe least squares estimates of the regression parameters were
The following model was fitted to a sample of 25 students using data obtained at the end of their freshman year in college. The aim was to explain students’ weight gains:y = β0 + β1x1 + β2x2 + β3x3 + εwherey = weight gained, in pounds, during freshman yearx1 = average number of meals eaten
Given the estimated linear modely` = 10 + 2x1 + 12x2 + 8x3a. Compute yn when x1 = 20, x2 = 11, x3 = 10.b. Compute yn when x1 = 15, x2 = 24, x3 = 20.c. Compute yn when x1 = 20, x2 = 19, x3 = 25.d. Compute yn when x1 = 10, x2 = 9, x3 = 30.
Refer to the data of Example 12.6.a. Test, against a two-sided alternative, the null hypothesis that, all else being equal, median per capita personal income has no influence on the effective property tax rate.b. Test the null hypothesis that, taken together, the three independent variables do not
Refer to the data of Example 12.7 with the data file Citydatr.a. Find 95% and 99% confidence intervals for the expected change in the market price for houses resulting from a one-unit increase in the mean number of rooms when the values of all other independent variables remain unchanged.b. Test
In a study of revenue generated by national lotteries, the following regression equation was fitted to data from 29 countries with lotteries:wherey = dollars of net revenue per capita per year generated by the lotteryx1 = mean per capita personal income of the countryx2 = number of hotel, motel,
A study was conducted to determine whether certain features could be used to explain variability in the prices of furnaces. For a sample of 19 furnaces, the following regression was estimated:y = price, in dollarsx1 = rating of furnace, in BTU per hourx2 = energy efficiency ratiox3 = number of
In a study of differences in levels of community demand for firefighters, the following sample regression was obtained, based on data from 39 towns in Maryland:wherey = number of full@time firefighters per capitax1 = maximum base salary of firefighters, in thousands of dollarsx2 = percentage of
Suppose that you have estimated coefficients for the following regression model:Y = Î²0 + Î²1X1 + Î²2X2 + Î²3X3Test the hypothesis that all three of the predictor variables are equal to 0, given the following analysis of variance tables:a. Analysis of varianceb. Analysis of variancec.
An aircraft company wanted to predict the number of worker-hours necessary to finish the design of a new plane. Relevant explanatory variables were thought to be the plane’s top speed, its weight, and the number of parts it had in common with other models built by the company. A sample of 27 of
In a study of the influence of financial institutions on bond interest rates in Germany, quarterly data over a period of 12 years were analyzed. The postulated model wasy = β0 + β1x1 + β2x2 + εwherey = change over the quarter in the bond interest ratesx1 = change over the quarter in bond
The following model was fitted to a sample of 30 families in order to explain household milk consumption:y = β0 + β1x1 + β2x2 + εwherey = milk consumption, in quarts per weekx1 = weekly income, in hundreds of dollarsx2 = family sizeThe least squares estimates of the regression parameters were
The following model was fitted to a sample of 25 students using data obtained at the end of their freshman year in college. The aim was to explain students’ weight gains:y = β0 + β1x1 + β2x2 + β3x3 + εwherey = weight gained, in pounds, during freshman yearx1 = average number of meals eaten
Given the following estimated linear modely` = 10 + 2x1 + 12x2 + 8x3a. What is the change in yn when x1 increases by 4?b. What is the change in yn when x3 increases by 1?c. What is the change in yn when x2 increases by 2?
A dependent variable is regressed on K independent variables, using n sets of sample observations. We denote SSE as the error sum of squares and R2 as the coefficient of determination for this estimated regression. We want to test the null hypothesis that K1 of these independent variables, taken
The following model was fitted to a sample of 30 families in order to explain household milk consumption:y = β0 + β1x1 + β2x2 + εwherey = milk consumption, in quarts per weekx1 = weekly income, in hundreds of dollarsx2 = family sizeThe least squares estimates of the regression parameters were
Suppose that a dependent variable is related to K independent variables through a multiple regression model. Let R2 denote the coefficient of determination and R2, the corrected coefficient. Suppose that n sets of observations are used to fit the regression.a. Show thatb. Show thatc. Show that the
Given the estimated multiple regression equation y` = 6 + 5x1 + 4x2 + 7x3 + 8x4what is the predicted value of Y in each case?a. x1 = 10, x2 = 23, x3 = 9, and x4 = 12b. x1 = 23, x2 = 18, x3 = 10, and x4 = 11c. x1 = 10, x2 = 23, x3 = 9, and x4 = 12d. x1 = -10, x2 = 13, x3 = -8, and x4 = -16
A real estate agent hypothesizes that in her town the selling price of a house in dollars (y) depends on its size in square feet of floor space (x1), the lot size in square feet (x2), the number of bedrooms (x3), and the number of bathrooms 1x42. For a random sample of 20 house sales, the following
Transportation Research, Inc., has asked you to prepare a multiple regression equation to estimate the effect of variables on fuel economy. The data for this study are contained in the data file Motors, and the dependent variable is miles per gallon- milpgal-as established by the Department of
Consider the following two equations estimated using the procedures developed in this section:i. yi = 4x1.5ii. yi = 1 + 2xi + 2x2iCompute values of yi when xi = 1, 2, 4, 6, 8, 10.
Given the following estimated linear modely` = 10 - 2x1 – 14x2 + 6x3a. What is the change in yn when x1 increases by 4?b. What is the change in yn when x3 decreases by 1?c. What is the change in yn when x2 decreases by 2?
Consider the following two equations estimated using the procedures developed in this section:i. yi = 4x1.8ii. yi = 1 + 2xi + 2x2iCompute values of yi when xi = 1, 2, 4, 6, 8, 10.
Consider the following two equations estimated using the procedures developed in this section:i. yi = 4x1.5ii. yi = 1 + 2xi + 1.7 x2iCompute values of yi when xi = 1, 2, 4, 6, 8, 10.
Consider the following two equations estimated using the procedures developed in this section.i. yi = 3x1.2ii. yi = 1 + 5xi - 1.5x2iCompute values of yi when xi = 1, 2, 4, 6, 8, 10.
John Swanson, president of Market Research Inc., has asked you to estimate the coefficients of the modelY = β0 + β1X1 + β2X21 + β3X2where Y is the expected sales of office supplies for a large retail distributor of office supplies, X1 is the total disposable income of residents within 5 miles
In a study of the determinants of household expenditures on vacation travel, data were obtained from a sample of 2,246 households (Hagermann 1981). The model estimated wasWherey = expenditure on vacation travelx1 = total annual consumption expenditurex2 = number of members in householdThe numbers
The following model was estimated for a sample of 322 supermarkets in large metropolitan areas (Macdonald and Nelson 1991):wherey = store sizex = median income in zip-code area in which store is locatedThe number in parentheses under the coefficient is the estimated coefficient standard error.a.
An agricultural economist believes that the amount of beef consumed (y) in tons in a year in the United States depends on the price of beef (x1) in dollars per pound, the price of pork (x2) in dollars per pound, the price of chicken (x3) in dollars per pound, and the income per household (x4) in
You have been asked to develop an exponential production function-Cobb-Douglas form-that will predict the number of microprocessors produced by a manufacturer, Y, as a function of the units of capital, X1; the units of labor, X2; and the number of computer science staff involved in basic research,
Consider the following nonlinear model with multiplicative errors:a. Show how you would obtain the coefficient estimates. Coefficient restrictions must be satisfied. Show all your work and explain what you are doing. b. What is the constant elasticity for Y versus X4? Show all your work.
An aircraft company wanted to predict the number of worker-hours necessary to finish the design of a new plane. Relevant explanatory variables were thought to be the plane’s top speed, its weight, and the number of parts it had in common with other models built by the company. A sample of 27 of
Angelica Chandra, president of Benefits Research, Inc., has asked you to study the salary structure of her firm. Benefits Research provides consulting and management for employee health care and retirement programs. Its clients are mid- to large-sized firms. As a first step you are asked to
The data file German Imports shows German real imports (y), real private consumption (x1), and real exchange rate (x2), in terms of U.S. dollars per mark, over a period of 22 years. Estimate the modellog yt = β0 + β1 log x1t + β2 log x2t + εiand write a report on your findings.
What is the model constant when the dummy variable equals 1 in the following equations, where x1 is a continuous variable and x2 is a dummy variable with a value of 0 or 1?a. y` = 4 + 8x1 + 3x2b. y` = 7 + 6x1 + 5x2c. y` = 4 + 8x1 + 3x2 + 4x1x2
What are the model constant and the slope coefficient of x1 when the dummy variable equals 1 in the following equations, where x1 is a continuous variable and x2 is a dummy variable with a value of 0 or 1?a. y` = 4 + 9x1 + 1.78x2 + 3.09x1x2b. y` = -3 + 7x1 + 4.15x2 + 2.51x1x2c. y` = 10 + 5x1 +
The following model was fitted to observations from 1972 to 1979 in an attempt to explain oil-pricing behavior:Where y` = difference between price in the current year and price in the previous year, in dollars per barrel x1 = difference between spot price in the current year and spot price in the
The following model was fitted to explain the selling prices of condominiums in a sample of 815 sales:wherey` = selling price of condo, in dollarsx1 = square footage of living areax2 = size of garage, in number of carsx3 = age of condo, in yearsx4 = dummy variable taking the value 1 if the condo
The following model was fitted to data on 32 insurance companies:wherey` = price-earnings ratiox1 = size of insurance company assets, in billions of dollarsx2 = dummy variable taking the value 1 for regional companies and 0 for national companiesThe numbers in parentheses under the coefficients are
A business school dean wanted to assess the importance of factors that might help in predicting success in law school. For a random sample of 50 students, data were obtained when students graduated from law school, and the following model was fitted:y = Î± + Î²1x1 +
The following model was fitted to data on 50 states:wherey` = annual salary of the attorney general of the statex1 = average annual salary of lawyers, in thousands of dollarsx2 = number of bills enacted in previous legislative sessionx3 = number of due process reviews by state courts that resulted
A consulting group offers courses in financial management for executives. At the end of these courses participants are asked to provide overall ratings of the value of the course. For a sample of 25 courses, the followingwherey` = average rating by participants of the coursex1 = percentage of
In a study of the influence of financial institutions on bond interest rates in Germany, quarterly data over a period of 12 years were analyzed. The postulated model was yi = β0 + β1x1i + β2x2i + εi where yi = change over the quarter in the bond interest rates x1i = change over the quarter in
A regression model was estimated to compare performance of students taking a business statistics course€”either as a standard 14-week course or as an intensive 3-week course. The following model was estimated from observations of 350 students (Van Scyoc and Gleason 1993):wherey` = score on a
In a survey of 27 undergraduates at the University of Illinois the accompanying results were obtained with grade point averages (y), the number of hours per week spent studying (x1), the average number of hours spent preparing for tests (x2), the number of hours per week spent in bars (x3), whether
Suppose that two independent variables are included as predictor variables in a multiple regression analysis. What can you expect will be the effect on the estimated slope coefficients when these two variables have each of the given correlations?a. 0.78 b. 0.08 c. 0.94 d. 0.33

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