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Business Statistics Contemporary Decision Making 6th Edition Ken Black - Solutions

Study the following Excel multiple regression output. How many predictors are in this model? How many observations? What is the equation of the regression line? Discuss the strength of the model in terms F. Which predictors, if any, are significant? Why or why not? Comment on the overall
Use the following data to develop a regression model to predict y from x1 and x2.Comment on the output. Develop a regression model to predict y from x1 only.Compare the results of this model with those of the model using both predictors.What might you conclude by examining the output from both
Develop a multiple regression model to predict y from x1, x2, and x3 using the following data. Discuss the values of F and t. y x x2 X3 5.3 44 11 401 3.6 24 40 219 5.1 46 13 394 4.9 38 18 362 7.0 61 6.4 58 35 453 468 5.2 47 14 386 4.6 36 24 357 2.9 19 52 206 4.0 31 29 301 3.8 24 37 243 3.8 27 36
Using the data from Problem 13.6, develop a multiple regression model to predict insider ownership from debt ratio and dividend payout. Comment on the strength of the model and the predictors by examining the ANOVA table and the t tests.
Using the data in Problem 13.5, develop a multiple regression model to predict per capita personal consumption by the consumption of paper, fish, and gasoline. Discuss the output and pay particular attention to the F test and the t tests.
Displayed here is the Minitab output for a multiple regression analysis. Study the ANOVA table and the t ratios and use these to discuss the strengths of the regression model and the predictors. Does this model appear to fit the data well? From the information here, what recommendations would you
Examine the Minitab output shown here for a multiple regression analysis. How many predictors were there in this model? Comment on the overall significance of the regression model. Discuss the t ratios of the variables and their significance.The regression equation is The regression equation is Y
Jensen, Solberg, and Zorn investigated the relationship of insider ownership, debt, and dividend policies in companies. One of their findings was that firms with high insider ownership choose lower levels of both debt and dividends. Shown here is a sample of data of these three variables for 11
Is there a particular product that is an indicator of per capita personal consumption for countries around the world? Shown on the next page are data on per capita personal consumption, paper consumption, fish consumption, and gasoline consumption for 11 countries. Use the data to develop a
Use the following data to determine the equation of the multiple regression model.Comment on the regression coefficients.Predictor Coefficient Constant 31,409.5 x1 .08425 x2 289.62 x3 -.0947
Using the following data, determine the equation of the regression model. How many independent variables are there? Comment on the meaning of these regression coefficients.Predictor Coefficient Constant 121.62 x1 -.174 x2 6.02 x3 .00026 x4 .0041
Use a computer to develop the equation of the regression model for the following data. Comment on the regression coefficients. Determine the predicted value of y for x1 = 33, x2 = 29, and x3 = 13.y x1 x2 x3 114 21 6 5 94 43 25 8 87 56 42 25 98 19 27 9 101 29 20 12 85 34 45 21 94 40 33 14 107 32 14
Use a computer to develop the equation of the regression model for the following data. Comment on the regression coefficients. Determine the predicted value of y for x1 = 200 and x2 = 7.y x1 x2 12 174 3 18 281 9 31 189 4 28 202 8 52 149 9 47 188 12 38 215 5 22 150 11 36 167 8 17 135 5
Study the following Minitab residual diagnostic graphs.Comment on any possible violations of regression assumptions. Residual 25 20 15 Normal Plot of Residuals 10 5 0 -5 -10 -15 -20 -2 -1 0 2 Normal Score
Study the following Excel regression output for an analysis attempting to predict the number of union members in the United States by the size of the labor force for selected years over a 30-year period from data published by the U.S. Bureau of Labor Statistics.Analyze the computer output. Discuss
Study the following Minitab output from a regression analysis to predict y from x.a. What is the equation of the regression model?b. What is the meaning of the coefficient of x?c. What is the result of the test of the slope of the regression model? Let = .10.Why is the t ratio negative?d. Comment
Can the consumption of water in a city be predicted by temperature? The following data represent a sample of a day’s water consumption and the high temperature for that day.Water Use Temperature(millions of gallons) (degrees Fahrenheit)219 10356 39 107 77 129 78 68 50 184 96 150 90 112 75
Is the amount of money spent by companies on advertising a function of the total sales of the company?Show are sales income and advertising cost data for seven companies published by Advertising Age.Advertising Sales Company ($ millions) ($ billions)Wal-Mart 1,073 351.1 Procter & Gamble 4,898 68.2
The following data represent a breakdown of state banks and all savings organizations in the United States every 5 years over a 60-year span according to the Federal Reserve System.Time Period State Banks All Savings 1 1342 2330 2 1864 2667 3 1912 3054 4 1847 3764 5 1641 4423 6 1405 4837 7 1147
People in the aerospace industry believe the cost of a space project is a function of the weight of the major object being sent into space. Use the following data to develop a regression model to predict the cost of a space project by the weight of the space object. Determine r 2 and se.Weight
According to the National Marine Fisheries Service, the current landings in millions of pounds of fish by U.S.fleets are almost double what they were in the 1970s.In other words, fishing has not faded as an industry.However, the growth of this industry has varied by region as shown in the following
How strong is the correlation between the inflation rate and 30-year treasury yields? The following data published by Fuji Securities are given as pairs of inflation rates and treasury yields for selected years over a 35-year period.Inflation Rate 30-Year Treasure Yield 1.57% 3.05%2.23 3.93 2.17
Shown here are the total employment labor force figures for the country of Romania over a 13-year period published in LABORSTA. Develop the equation of a trend line through these data and use the equation to predict the total employment labor force of Romania for the year 2011. Year Total
It seems logical that restaurant chains with more units(restaurants) would have greater sales. This assumption is mitigated, however, by several possibilities: some units may be more profitable than others, some units may be larger, some units may serve more meals, some units may serve more
Executives of a video rental chain want to predict the success of a potential new store. The company’s researcher begins by gathering information on number of rentals and average family income from several of the chain’s present outlets.Develop a regression model to predict the number of
A manager of a car dealership believes there is a relationship between the number of salespeople on duty and the number of cars sold. Suppose the following sample is used to develop a simple regression model to predict the number of cars sold by the number of salespeople. Solve for r 2 and explain
Determine the equation of the trend line through the following cost data.Use the equation of the line to forecast cost for year 7.Year Cost ($ millions)1 56 2 54 3 49 4 46 5 45
Determine the equation of the least squares regression line to predict y from the following data.x 47 94 68 73 80 49 52 61 y 14 40 34 31 36 19 20 21a. Construct a 95% confidence interval to estimate the mean y value for x = 60.b. Construct a 95% prediction interval to estimate an individual y value
If you were to develop a regression line to predict y by x, what value would the coefficient of determination have?x 213 196 184 202 221 247 y 76 65 62 68 71 75
Use the following data for parts (a) through (g).x 53 47 41 50 58 62 45 60 y 5 5 7 4 10 12 3 11a. Determine the equation of the simple regression line to predict y from x.b. Using the x values, solve for the predicted values of y and the residuals.c. Solve for SSE.d. Calculate the standard error of
Use the following data for parts (a) through (f).x 5 7 3 16 12 9 y 8 9 11 27 15 13a. Determine the equation of the least squares regression line to predict y by x.b. Using the x values, solve for the predicted values of y and the residuals.c. Solve for se.d. Solve for r 2.e. Test the slope of the
Determine the Pearson product-moment correlation coefficient for the following data.x 1 10 9 6 5 3 2 y 8 4 4 5 7 7 9
After a somewhat uncertain start, e-commerce sales in the United States have been growing for the past several years. Shown below are quarterly e-commerce sales figures ($ billions) released by the Census Bureau for the United States over a three-year period. Use these data to determine the
Shown below are rental and leasing revenue figures for office machinery and equipment in the United States over a seven-year period according to the U.S. Census Bureau. Use these data to construct a trend line and forecast the rental and leasing revenue for the year 2010 using these data. Year
Determine the equation of the trend line for the data shown below on U.S. exports of fertilizers to Indonesia over a five-year period provided by the U.S Census Bureau. Using the trend line equation, forecast the value for the year 2011. Year Fertilizer ($ millions) 2005 11.9 2006 17.9 2007 22.0
Construct a 99% confidence interval for the average bond rate in Problem 12.9 for a prime interest rate of 10%. Discuss the meaning of this confidence interval.
Construct a 98% confidence interval for the average value of y for Problem 12.8;use x = 20. Construct a 98% prediction interval for a single value of y for Problem 14.3; use x = 20.Which is wider? Why?
Construct a 90% prediction interval for a single value of y for Problem 12.7;use x = 100. Construct a 90% prediction interval for a single value of y for Problem 14.2; use x = 130. Compare the results.Which prediction interval is greater?Why?
Construct a 95% confidence interval for the average value of y for Problem 12.6.Use x = 25.
Study the following analysis of variance table, which was generated from a simple regression analysis. Discuss the F test of the overall model. Determine the value of t and test the slope of the regression line.
Test the slope of the regression line developed in Problem 12.10. Use a 5% level of significance.
Test the slope of the regression line determined in Problem 12.9. Use a 5% level of significance.
Test the slope of the regression line determined in Problem 12.8. Use a = .10.
Test the slope of the regression line determined in Problem 12.7. Use a = .01.
Test the slope of the regression line determined in Problem 12.6. Use a = .05.
The Conference Board produces a Consumer Confidence Index (CCI) that reflects people’s feelings about general business conditions, employment opportunities, and their own income prospects. Some researchers may feel that consumer confidence is a function of the median household income. Shown here
In problem 12.10, you were asked to develop the equation of a regression model to predict the number of business bankruptcies by the number of firm births.For this regression model, solve for the coefficient of determination and comment on it.
Compute r 2 for Problem 12.27 (Problem 12.9). Discuss the value of r 2 obtained.
Compute r 2 for Problem 12.26 (Problem 12.8). Discuss the value of r 2 obtained.
Compute r 2 for Problem 12.25 (Problem 12.7). Discuss the value of r 2 obtained.
Compute r 2 for Problem 12.24 (Problem 12.6). Discuss the value of r 2 obtained.
Determine the equation of the regression line to predict annual sales of a company from the yearly stock market volume of shares sold in a recent year. Compute the standard error of the estimate for this model. Does volume of shares sold appear to be a good predictor of a company’s sales? Why or
Determine the SSE and the se for Problem 12.20. Comment on the size of se for this regression model, which is used to predict the cost of milk.
Use the data from problem 12.19 and determine the se .
In problem 12.10, you were asked to develop the equation of a regression model to predict the number of business bankruptcies by the number of firm births. For this regression model, solve for the standard error of the estimate and comment on it.
Determine the SSE and se for Problem 12.9. Examine the variables being analyzed by regression in this problem and comment on the value of se .
Determine the SSE and the se for Problem 12.8. Think about the variables being analyzed by regression in this problem and comment on the value of se .
Determine the SSE and the se for Problem 12.7. Use the residuals computed in Problem 12.15 (for Problem 12.7) and determine how many of them are within;1se and ;2se. How do these numbers compare with what the empirical rule says should occur if the error terms are normally distributed?
(for Problem 12.6) are within one standard error of the estimate. If the error terms are normally distributed, approximately how many of these residuals should be within ;1se?
Determine the sum of squares of error (SSE) and the standard error of the estimate(se) for Problem 12.6. Determine how many of the residuals computed in Problem
Can the annual new orders for manufacturing in the United States be predicted by the raw steel production in the United States? Shown on the next page are the annual new orders for 10 years according to the U.S. Census Bureau and the raw steel production for the same 10 years as published by the
It appears that over the past 45 years, the number of farms in the United States declined while the average size of farms increased. The following data provided by the U.S. Department of Agriculture show five-year interval data for U.S. farms. Use these data to develop the equation of a regression
Is it possible to predict the annual number of business bankruptcies by the number of firm births (business starts) in the United States? The following data published by the U.S. Small Business Administration, Office of Advocacy, are pairs of the number of business bankruptcies (1000s) and the
Investment analysts generally believe the interest rate on bonds is inversely related to the prime interest rate for loans; that is, bonds perform well when lending rates are down and perform poorly when interest rates are up. Can the bond rate be predicted by the prime interest rate? Use the
A corporation owns several companies. The strategic planner for the corporation believes dollars spent on advertising can to some extent be a predictor of total sales dollars. As an aid in long-term planning, she gathers the following sales and advertising information from several of the companies
Sketch a scatter plot from the following data, and determine the equation of the regression line.x 140 119 103 91 65 29 24 y 25 29 46 70 88 112 128
Sketch a scatter plot from the following data, and determine the equation of the regression line.x 12 21 28 8 20 y 17 15 22 19 24
The National Safety Council released the following data on the incidence rates for fatal or lost-worktime injuries per 100 employees for several industries in three recent years.Compute r for each pair of years and determine which years are most highly correlated. Industry Year 1 Year 2 Year 3
The following data are the claims (in $ millions) for BlueCross BlueShield benefits for nine states, along with the surplus (in $ millions) that the company had in assets in those states.Use the data to compute a correlation coefficient, r, to determine the correlation between claims and surplus.
In an effort to determine whether any correlation exists between the price of stocks of airlines, an analyst sampled six days of activity of the stock market. Using the following prices of Delta stock and Southwest stock, compute the coefficient of correlation.Stock prices have been rounded off to
Determine the value of r for the following data.X 158 296 87 110 436 Y 349 510 301 322 550
Determine the value of the coefficient of correlation, r, for the following data.X 4 6 7 11 14 17 21 Y 18 12 13 8 7 7 4
Discuss the following Minitab output. One-Way Analysis of Variance F P 0.034 Source df SS MS Treatment 3 138.0 46.0 3.51 Error 20 262.2 13.1 Total 23 400.3 Individual 95% CIs For Mean Based on Pooled StDev Level N Mean StDev 123+4 6 53.778 5.470 (--------) 6 54.665 1.840 (--- 6 59.911 3.845 ---).
Study the following Minitab output.Determine whether there are any significant effects and discuss the results.What kind of design was used and what was the size of it? Two-Way Analysis of Variance Source: df SS MS Blocking 4 41.44 10.36 Treatment 4 143.93 35.98 Error 16 117.82 7.36 Total 24 303.19
Interpret the following Excel output. Discuss the structure of the experimental design and any significant effects. Alpha is .05. ANOVA: Two-Factor With Replication ANOVA Source of Variation Sample Columns Interaction Within Total SS df MS F P-value F crit 2913.889 3 971.296 4.30 0.0146 3.01
Following is Excel output for an ANOVA problem.Describe the experimental design. The given value of alpha was .05. Discuss the output in terms of significant findings.11.64 Study the following Minitab output and graph. Discuss the meaning of the output. ANOVA: Two-Factor Without Replication ANOVA
Analyze the following Minitab output. Describe the design of the experiment. Using a = .05 determine whether there are any significant effects; if so, explain why. Discuss any other ramifications of the output. One-way ANOVA: Dependent Variable versus Factor Analysis of Variance Source DF Factor 3
Are some unskilled office jobs viewed as having more status than others? Suppose a study is conducted in which eight unskilled, unemployed people are interviewed.The people are asked to rate each of five positions on a scale from 1 to 10 to indicate the status of the position, with 10 denoting most
Why are mergers attractive to CEOs? One of the reasons might be a potential increase in market share that can come with the pooling of company markets.Suppose a random survey of CEOs is taken, and they are asked to respond on a scale from 1 to 5 (5 representing strongly agree) whether increase in
The Construction Labor Research Council lists a number of construction labor jobs that seem to pay approximately the same wages per hour. Some of these are bricklaying, iron working, and crane operation. Suppose a labor researcher takes a random sample of workers from each of these types of
Agricultural researchers are studying three different ways of planting peanuts to determine whether significantly different levels of production yield will result.The researchers have access to a large peanut farm on which to conduct their tests. They identify six blocks of land. In each block of
A company conducted a consumer research project to ascertain customer service ratings from its customers.The customers were asked to rate the company on a scale from 1 to 7 on various quality characteristics. One question was the promptness of company response to a repair problem. The following
Compute a two-way ANOVA on the following data (a = .01). A A Treatment 1 B C 536 4 24 235 4 11 9 13 B 8 10 12 Treatment 2 12 8 10 6 7 4 C 4 6 6 5 7 8 9 8 8 D 11 12 9 9 9 11
A two-way ANOVA has been computed on a factorial design. Treatment 1 has five levels and treatment 2 has two levels. Each cell contains four measures. Complete the following ANOVA table. Use to test to determine significance of the effects. Comment on your findings. Source of Variance SS df MS F
Analyze the following data, gathered from a randomized block design using If there is a significant difference in the treatment effects, use Tukey’s HSD test to do multiple comparisons. Treatment A B C D 1 17 10 9 21 2 13 9 8 16 Blocking 3 20 17 18 22 Variable 4 11 6 5 10 5 16 13 14 22 6 23 19 20
Complete the following ANOVA table and determine whether there is any significance in treatment effects. Let a = .05. Source of Variance SS df MS F Treatment 20,994 3 Blocking 9 Error 33,891 Total 71,338
Examine the structure of the following experimental design. Determine which of the three designs presented in the chapter would be most likely to characterize this structure. Discuss the variables and the levels of variables.Determine the degrees of freedom. Methodology Person Method 1 Method 2
Compute a one-way ANOVA of the following data. Let Use the Tukey-Kramer procedure to conduct multiple comparisons for the means. 1 Treatment 2 3 7 11 8 12 17 6 9 16 10 11 13 9 8 10 11 9 15 7 11 14 10 10 18 7 8
You are asked to analyze a completely randomized design that has six treatment levels and a total of 42 measurements.Complete the following table, which contains some information from the study. Source of Variance SS df MS F Treatment 210 Error 655 Total
Complete the following ANOVA table. Source of Variance SS df MS F Treatment Error Total 249.61 19 317.80 25 22
Compute a one-way ANOVA on the following data.Use. If there is a significant difference in treatment levels, use Tukey’s HSD to compute multiple comparisons.Let for the multiple comparisons. Treatment 1 2 3. 4 10 9 12 10 12 7 13 10 15 9 14 13 11 6 14 12
Finish the computations in the Minitab ANOVA table shown below and on the next page and determine the critical table F values. Interpret the analysis.Examine the associated Minitab graph and interpret the results. Discuss this problem, including the structure of the design, the sample sizes, and
Consider the valve opening data displayed in Table 11.1. Suppose the data represent valves produced on four different machines on three different shifts and that the quality controllers want to know whether there is any difference in the mean measurements of valve openings by shift or by machine.
Study the following analysis of variance table that was produced by using Minitab.Describe the design (number of treatments, sample sizes, etc.). Are there any significant effects? Discuss the output. Two-way ANOVA: DV versus RowEffect, ColEffect Source RowEffect ColEffect Interaction Error Total
A shoe retailer conducted a study to determine whether there is a difference in the number of pairs of shoes sold per day by stores according to the number of competitors within a 1-mile radius and the location of the store. The company researchers selected three types of stores for consideration
Children are generally believed to have considerable influence over their parents in the purchase of certain items, particularly food and beverage items. To study this notion further, a study is conducted in which parents are asked to report how many food and beverage items purchased by the family
Suppose the following data have been gathered from a study with a two-way factorial design. Use and a two-way ANOVA to analyze the data. State your conclusions. A Treatment 2 B C D A 1.2 1.3 1.3 1.5 2.2 2.1 2.0 2.3 1.7 1.8 1.7 1.6 2.4 2.3 2.5 2.4 Treatment 1 B 1.9 1.6 1.7 2.0 2.7 2.5 2.8 2.8 1.9
The data gathered from a two-way factorial design follow. Use the two-way ANOVA to analyze these data. Let a = .01. Treatment 1 C A B A 23 25 22 22 21 21 220 Treatment 2 B 27 24 26 28 27 27
Complete the following two-way ANOVA table. Determine the critical table F values and reach conclusions about the hypotheses for effects. Let a = .05. Source of Variance SS df MS F Row 1.047 1 Column 3.844 3 Interaction 0.773 Error Total 12.632 23
Complete the following two-way ANOVA table. Determine the critical table F values and reach conclusions about the hypotheses for effects. Let = .05. Source of Variance SS df MS F Row 126.98 3 Column 37.49 4 Interaction 380.82 Error 733.65 60 Total

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