Business Statistics A First Course 7th Global Edition Kathryn A. Szabat, David M. Levine, David F. Stephan - Solutions

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1.6 Choosing classes in a histogram. The data set menu that accompanies the One-Variable Statistical Calculator applet includes a data set called “healing of skin wounds.” Choose these data, then click on the “Histogram” tab to see a histogram.a. How many classes does the applet choose to
1.5 Prescriptions of opioid pain relievers. Opioid pain relievers are prescribed at a higher rate in the United States than in any other nation, even though abuse of these medications can result in addiction and fatal overdoses. The CDC examined opioid pain reliever prescriptions in each state to
1.4 More on children’s food choices. The study in Exercise 1.3 also asked the 40 children to taste small pieces of gummy fruit snacks and baby carrots presented in packages with and in packages without a popular cartoon character. For each food type, the children indicated which of the two
1.3 Children’s food choices. Does the presence of popular cartoon characters on food packages influence children’s food choices? A study asked 40 young children (ages four to six) to taste two small pieces of Graham Crackers coming from a package with and a package without a popular cartoon
1.2 Concussion and sleep. A 2016 National Public Radio (NPR) report described a study comparing patients who had their first ever traumatic brain injury 18 months earlier with similar healthy individuals with no prior brain trauma.5 The news report states that, 18 months after their traumatic brain
1.1 Cereal content. Here is a small part of an EESEE data set (available on the companion website), “Nutrition and Breakfast Cereals,” that describes the nutritional content per serving of 77 brands of breakfast cereal:a. What are the individuals in this data set?b. For each individual, what
Referring to Problem 13.60, instead of predicting the unit density, you now wish to predict the foam diameter from results stored in PackagingFoam4 . Develop a multiple regression model that uses die temperature and die diameter to predict the foam diameter (mg/ml). Be sure to perform a thorough
An experiment was conducted to study the extrusion process of biodegradable packaging foam. Among the factors considered for their effect on the unit density (mg/ml) were the die temperature(145°C versus 155°C) and the die diameter (3 mm versus 4 mm).The results were stored in PackagingFoam3 .
Starbucks Coffee Co. uses a data-based approach to improving the quality and customer satisfaction of its products.When survey data indicated that Starbucks needed to improve its package-sealing process, an experiment was conducted to determine the factors in the bag-sealing equipment that might be
The list of Best Small Companies in America features a group with strong earnings growth across industries. A business analyst wishes to determine the relationship between earnings per share growth (%) and sales growth (%) and return on equity(%). Data were collected on 100 small companies and
You are a real estate broker who wants to compare property values in Glen Cove and Roslyn (which are located approximately 8 miles apart). In order to do so, you will analyze the data in gCRoslyn , a file that includes samples of houses from Glen Cove and Roslyn. Making sure to include the dummy
Referring to Problem 13.55, suppose that in addition to using eRA to predict the number of wins, the analytics specialist wants to include the league (0 = American, 1 = National) as an independent variable. Develop a model to predict wins based on eRA and league. For (a) through ( j), do not
A baseball analytics specialist wants to determine which variables are important in predicting a team’s wins in a given season. He has collected data related to wins, earned run average (eRA), and runs scored per game in a recent season (stored in baseball ). Develop a model to predict the number
A sample of 30 houses recently listed for sale in Silver Spring, Maryland, was selected with the objective of developing a model to predict the taxes (in $) based on the assessed value of houses (in $thousands) and the age of the houses (in years) (stored in SilverSpring ):a. State the multiple
Measuring the height of a California redwood tree is very difficult because these trees grow to heights over 300 feet. People familiar with these trees understand that the height of a California redwood tree is related to other characteristics of the tree, including the diameter of the tree at the
A sample of 30 houses recently listed for sale in Silver Spring, Maryland, was selected with the objective of developing a model to predict the assessed value (in $thousands), using the size of the house (in thousands of square feet) and age (in years). The results are stored in Silver Spring .a.
Professional basketball has truly become a sport that generates interest among fans around the world. More and more players come from outside the United States to play in the National Basketball Association (NBA). You want to develop a regression model to predict the number of wins achieved by each
The owner of a moving company typically has his most experienced manager predict the total number of labor hours that will be required to complete an upcoming move. This approach has proved useful in the past, but the owner has the business objective of developing a more accurate method of
Increasing customer satisfaction typically results in increased purchase behavior. For many products, there is more than one measure of customer satisfaction. In many, purchase behavior can increase dramatically with an increase in just one of the customer satisfaction measures. Gunst and Barry
What are regression coefficients called in multiple regression? What do they estimate?
How are dummy variables, Xd, recoded? What numerical values are used?
How can you evaluate whether the slope of the dependent variable with an independent variable is the same for each level of the dummy variable?
Why and how do you use dummy variables?
How does the interpretation of the regression coefficients differ in multiple regression and simple linear regression?
What is the difference between r 2 and adjusted r 2?
In Problem 13.7. on page 492, you used the total staff present and remote hours to predict standby hours stored in Standby .Develop a regression model to predict standby hours that includes total staff present, remote hours, and the interaction of total staff present and remote hours.a. At the 0.05
In Problem 13.5. on page 492, the percentage of alcohol and chlorides were used to predict the quality of red wines (stored in VinhoVerde ). Develop a regression model that includes the percentage of alcohol, the chlorides, and the interaction of the percentage of alcohol and the chlorides to
In Problem 13.6. on page 492, you used the total worldwide revenue ($millions) and full-time voluntary turnover (%)data stored in bestCompanies to predict number of full-time jobs added. Develop a regression model to predict the number of fulltime jobs added that includes full-time voluntary
Zagat’s publishes restaurant ratings for various locations in the United States. The file Restaurants contains the Zagat rating for food, décor, service, and cost per person for a sample of 50 restaurants located in a city and 50 restaurants located in a suburb.(Data extracted from Zagat Survey
In Problem 13.4. on page 491, you used efficiency ratio and total risk-based capital stored in Communitybanks to predict ROA at a community bank. Develop a regression model to predict ROA that includes efficiency ratio, total risk-based capital, and the interaction of efficiency ratio and total
The owner of a moving company typically has his most experienced manager predict the total number of labor hours that will be required to complete an upcoming move. This approach has proved useful in the past, but the owner has the business objective of developing a more accurate method of
In mining engineering, holes are often drilled through rock, using drill bits. As a drill hole gets deeper, additional rods are added to the drill bit to enable additional drilling to take place. It is expected that drilling time increases with depth. This increased drilling time could be caused by
In Problem 13.5 on page 492, you developed a multiple regression model to predict wine quality for red wines. Now, you wish to determine whether there is an effect on wine quality due to whether the wine is white (0) or red (1). These data are organized and stored in RedandWhite . Develop a
A real estate association in a suburban community would like to study the relationship between the size of a single-family house (as measured by the number of rooms) and the selling price of the house (in thousands of dollars). Two different neighborhoods are included in the study, one on the east
The chair of the accounting department plans to develop a regression model to predict the grade point average in accounting for those students who are graduating and have completed the accounting major, based on a student’s SAT score and whether the student received a grade of B or higher in the
Suppose that in Problem 13.31, tSTAT for testing the contribution of X2 is 3.27. At the 0.05 level of significance, is there evidence that X2 makes a significant contribution to the model?
Suppose X1 is a numerical variable and X2 is a dummy variable and the regression equation for a sample of n = 26 is Yn = 6 - 5X1i + 4X2ia. Interpret the regression coefficient associated with variable X1.b. Interpret the regression coefficient associated with variable X2.
In Problem 13.8. on page 492, you used land area of a property and age of a house to predict the fair market value (stored in glenCove ). Using the results from that problem,a. construct a 95% confidence interval estimate of the population slope between fair market value and land area of a
In Problem 13.7 on page 492, you used the total number of staff present and remote hours to predict standby hours (stored in Standby ). Using the results from that problem,a. construct a 95% confidence interval estimate of the population slope between standby hours and total number of staff
In Problem 13.6 on page 492, you used the total worldwide revenue ($millions) and full-time voluntary turnover (%)data stored in bestCompanies to predict the number of full-time jobs added. Using the results from that problem,a. construct a 95% confidence interval estimate of the population slope
In Problem 13.8 on page 492, you used the land area of a property and the age of a house to predict the fair market value(stored in glenCove ). Using the results from that problem,a. determine whether there is a significant relationship between fair market value and the two independent variables
In Problem 13.6 on page 492, you used the total worldwide revenue ($millions), and full-time voluntary turnover (%)data stored in bestCompanies to predict the number of full-time jobs added. Using the results from that problem,a. determine whether there is a significant relationship at the 0.05
In Problem 13.7 on page 492, you used the total staff present and remote hours to predict standby hours (stored in Standby ).Using the results from that problem,a. determine whether there is a significant relationship between standby hours and the two independent variables (total staff present and
In Problem 13.4 on page 491, you used efficiency ratio and total risk-based capital to predict ROA at a community bank (stored in Communitybanks ). Using the results from that problem,a. determine whether there is a significant relationship between ROA and the two independent variables (used
In Problem 13.5 on page 492, you used the percentage of alcohol and chlorides to predict wine quality (stored in VinhoVerde ). Use the results from that problem to do the following:a. Determine whether there is a significant relationship between wine quality and the two independent variables
In Problem 13.3. on page 491, you predicted the mean annual revenue for U.S. metropolitan areas, based on the mean age(Age) and mean BizAnalyzer score (BizAnalyzer) for a sample of 25 small business metropolitan areas. The regression analysis resulted in the following ANOVA summary table:a.
A financial analyst engaged in business valuation obtained financial data on 53 drug companies (Industry Group SIC 3 code: 283). The file businessValuation contains the following variables:COMPANY—Drug Company name PB fye—Price-to-book-value ratio (fiscal year ending)ROe—Return on equity
The following ANOVA summary table is for a multiple regression model with two independent variables:a. Determine the regression mean square (MSR) and the mean square error (MSE).b. Compute the overall FSTAT test statistic.c. Determine whether there is a significant relationship between Y and the
The following ANOVA summary table is for a multiple regression model with two independent variables:a. Determine the regression mean square (MSR) and the mean square error (MSE).b. Compute the overall FSTAT test statistic.c. Determine whether there is a significant relationship between Y and the
A certain town is located approximately 25 miles east of a large city. The data organized in yourTown include the appraised value (in thousands of dollars), land area of the property in acres, and age, in years, for a sample of 20 single-family homes located in the town. Develop a multiple linear
The business problem facing the director of broadcasting operations for a television station was the issue of standby hours(i.e., hours in which unionized graphic artists at the station are paid but are not actually involved in any activity) and what factors were related to standby hours. The study
The business problem facing a human resource manager is to assess the impact of factors on full-time job growth. Specifically, the human resource manager is interested in the impact of total worldwide revenues and full-time voluntary turnover on the number of full-time jobs added in a year. Data
A consumer organization wants to develop a regression model to predict gasoline mileage (as measured by miles per gallon) based on the horsepower of the car’s engine and the weight of the car (in pounds). A sample of 20 recent car models was selected, with the results stored in CarModels .a.
Profitability remains a challenge for banks and thrifts with less than $2 billion of assets. The business problem facing a bank analyst relates to the factors that affect return on assets (ROA), an indicator of how profitable a company is relative to its total assets. Data collected from a sample
Two independent variables under consideration to use in predicting the durability of running shoes are X1, the shock absorbing capability, and X2, the change in impact properties over time. The dependent variable, Y, is a measure of the shoe’s durability. A random sample of 15 types of shoes gave
For the following problem, use the given multiple regression equation:Y ni = 50 + 6X1i + 3X2ia. Interpret the meaning of the slopes.b. Interpret the meaning of the Y intercept.
For this problem, use the following multiple regression equation:Y ni = 10 + 5X1i + 3X2ia. Interpret the meaning of the slopes.b. Interpret the meaning of the Y intercept.
In problems 12.8, 12.20, 12.30, 12.46, 12.62, 12.82, and 12.83, you developed regression models to predict franchise value of major league baseball, NBA basketball, and soccer teams. Now, write a report based on the models you developed. Append to your report all appropriate charts and statistical
The file Ceo-Compensation2013 includes the total compensation (in $millions) for CeOs of 200 Standard & poor’s 500 companies and the investment return in 2013. (Data extracted from “Millions by millions, CeO pay goes up,” usat.ly/1jhbypL.)a. Compute the correlation coefficient between
Refer to the discussion of beta values and market models in problem 12.49 on page 466. The S&p 500 Index tracks the overall movement of the stock market by considering the stock prices of 500 large corporations. The file Stockprices2013 contains 2013 weekly data for the S&p 500 and three companies.
During the fall harvest season in the United States, pumpkins are sold in large quantities at farm stands. Often, instead of weighing the pumpkins prior to sale, the farm stand operator will just place the pumpkin in the appropriate circular cutout on the counter. When asked why this was done, one
(a) through (h) for the european soccer teams.b. Compare the results of (a) to those of baseball franchises in problems 12.8, 12.20, 12.30, 12.46, and 12.62 and NBA franchises in problem 12.82.
In problem 12.82 you used annual revenue to develop a model to predict the franchise value of National Basketball Association (NBA) teams. Can you also use the annual revenues generated by european soccer teams to predict franchise values? (european soccer team values and revenues are stored in
and european soccer teams in problem 12.83.
Can you use the annual revenues generated by National Basketball Association (NBA) franchises to predict franchise values? Figure 2.14 on page 83 shows a scatter plot of revenue with franchise value, and Figure 3.9 on page 186, shows the correlation coefficient. Now, you want to develop a simple
A baseball analyst would like to study various team statistics for a recent season to determine which variables might be useful in predicting the number of wins achieved by teams during the season. He begins by using a team’s earned run average(eRA), a measure of pitching performance, to predict
On January 28, 1986, the space shuttle Challenger exploded, and seven astronauts were killed. prior to the launch, the predicted atmospheric temperature was for freezing weather at the launch site.engineers for Morton Thiokol (the manufacturer of the rocket motor) prepared charts to make the case
An accountant for a large department store has the business objective of developing a model to predict the amount of time it takes to process invoices. Data are collected from the past 32 working days, and the number of invoices processed and completion time (in hours) are stored in invoice .
The director of graduate studies at a large college of business has the objective of predicting the grade point average (GpA)of students in an MBA program. The director begins by using the Graduate Management Admission Test (GMAT) score. A sample of 20 students who have completed two years in the
You want to develop a model to predict the taxes of houses, based on assessed value. A sample of 30 single-family houses listed for sale in Silver Spring, Maryland, a suburb of Washington, DC, is selected. The taxes (in $) and the assessed value of the houses (in $thousands) are recorded and stored
You want to develop a model to predict the assessed value of homes based on their size. A sample of 30 single-family houses listed for sale in Silver Spring, Maryland, a suburb of Washington, DC, is selected to study the relationship between assessed value(in $thousands) and size (in thousands of
Measuring the height of a California redwood tree is very difficult because these trees grow to heights of over 300 feet. people familiar with these trees understand that the height of a California redwood tree is related to other characteristics of the tree, including the diameter of the tree at
Management of a soft-drink bottling company has the business objective of developing a method for allocating delivery costs to customers. Although one cost clearly relates to travel time within a particular route, another variable cost reflects the time required to unload the cases of soft drink at
Can you use Twitter activity to forecast box office receipts on the opening weekend? The following data (stored in TwitterMovies ) indicate the Twitter activity (“want to see”) and the receipts ($) per theater on the weekend a movie opened for seven movies:a. Use the least-squares method to
What is the difference between a confidence interval estimate of the mean response, mYX = Xi, and a prediction interval of YX = Xi
How and when would you measure autocorrelation?
What is the importance of residual analysis? When is the model considered valid?
What are the assumptions of regression analysis?
Why should you always carry out a residual analysis as part of a regression model?
When is the explained variation (i.e., regression sum of squares) equal to 0?
When is the unexplained variation (i.e., error sum of squares) equal to 0?
What is the interpretation of the coefficient of determination?
What is the interpretation of the Y intercept and the slope in the simple linear regression equation?
In problem 12.10 on page 446, you used box office gross to predict DVD revenue. The data are stored in Movie . The company is about to release a movie on DVD that had a box office gross of $100 million.a. What is the predicted DVD revenue?b. Which interval is more useful here, the confidence
In problem 12.8 on page 446, you predicted the value of a baseball franchise, based on current revenue. The data are stored in bbValues .a. Construct a 95% confidence interval estimate of the mean value of all baseball franchises that generate $250 million of annual revenue.b. Construct a 95%
In problem 12.9 on page 446, an agent for a real estate company wanted to predict the monthly rent for one-bedroom apartments, based on the size of an apartment. The data are stored in rentSilverSpring .a. Construct a 95% confidence interval estimate of the mean monthly rental for all one-bedroom
In problem 12.6 on page 446, the owner of a moving company wanted to predict labor hours based on the number of cubic feet moved. The data are stored in Moving .a. Construct a 95% confidence interval estimate of the mean labor hours for all moves of 500 cubic feet.b. Construct a 95% prediction
In problem 12.7 on page 446, you used the plate gap on the bag-sealing equipment to predict the tear rating of a bag of coffee. The data are stored in Starbucks .a. Construct a 95% confidence interval estimate of the mean tear rating for all bags of coffee when the plate gap is 0.b. Construct a 95%
In problem 12.4 on page 445, you used the percentage of alcohol to predict wine quality. The data are stored in VinhoVerde . For these data, SYX = 0.9369 and hi = 0.024934 when X = 10.a. Construct a 95% confidence interval estimate of the mean wine quality rating for all wines that have 10%
In problem 12.5 on page 446, you used the summated rating of a restaurant to predict the cost of a meal. The data are stored in restaurants . For these data, SYX = 9.094 and hi = 0.046319 when X = 50.
Based on a sample of n = 20, the least-squares method was used to develop the following prediction line: Y ni = 5 + 3Xi.In addition, SYX = 1.0 X = 2 a ni = 1 1Xi - X22 = 20a. Construct a 95% confidence interval estimate of the population mean response for X = 4.b. Construct a 95% prediction
Based on a sample of n = 29, the least-squares method was used to develop the prediction line: Y ni = 5 + 3Xi. In addition, SYX = 2.3, X = 10, and a ni = 1 1Xi - X22 = 29a. Construct a 90% confidence interval estimate of the population mean response for X = 5.b. Construct a 90% prediction interval
College football players trying out for a professional football league are given a standardized intelligence test. The file CollegeFootball contains a list of the average test scores of football players trying out for a professional football league and the graduation rates for football players at
College football is big business, with coaches’ salaries, revenues, and expenses in millions of dollars. The file College Football contains the coaches’ pay and revenue for college football at 105 of the 124 schools that are part of the Division I Football Bowl Subdivision. (Data extracted from
Movie companies need to predict the gross receipts of an individual movie once the movie has debuted. The following results (stored in potterMovies ) are the first weekend gross, the U.S. gross, and the worldwide gross (in $millions) of the eight Harry potter movies that debuted from 2001 to
The file CoffeeDrink contains the calories and fat, in grams, of seven different types of coffee drinks:a. Compute and interpret the coefficient of correlation, r.b. At the 0.05 level of significance, is there a significant linear relationship between calories and fat?
Index funds are mutual funds that try to mimic the movement of leading indexes, such as the S&p 500 or the Russell 2000.The beta values (as described in problem 12.49) for these funds are therefore approximately 1.0, and the estimated market models for these funds are approximately 1% weekly change
The volatility of a stock is often measured by its beta value.You can estimate the beta value of a stock by developing a simple linear regression model, using the percentage weekly change in the stock as the dependent variable and the percentage weekly change in a market index as the independent
In problem 12.10 on page 446, you used box office gross to predict DVD revenue. The data are stored in Movie . Use the results of that problem.a. At the 0.05 level of significance, is there evidence of a linear relationship between box office gross and DVD revenue?b. Construct a 95% confidence
In problem 12.9 on page 446, an agent for a real estate company wanted to predict the monthly rent for one-bedroom apartments, based on the size of the apartment. The data are stored in rentSilverSpring . Use the results of that problem.a. At the 0.05 level of significance, is there evidence of a

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Business Statistics A First Course 7th Global Edition Kathryn A. Szabat, David M. Levine, David F. Stephan - Solutions

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