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Statistics For Managers Using Microsoft Excel 9th Global Edition David Levine, David Stephan, Kathryn Szabat - Solutions
14.8 Nassau County is located approximately 25 miles east of New York City. The data organized and stored in Glen Cove include the fair market value (in $thousands), land area of the property in acres, and age, in years, for a sample of 30 single-family homes located in Glen Cove, a small city in
14.7 The business problem facing the director of broadcasting operations for a television station was the issue of standby hours(i.e., hours in which employees at the station are paid but are not actually involved in any activity) and what factors were related to standby hours. The study included
14.6 Human resource managers face the business problem of assessing the impact of factors on full-time job growth. A human resource manager is interested in the impact of full-time voluntary turnover and total worldwide revenues on the number of full-time job openings at the beginning of a new
14.5 A car’s power output is influenced by several factors. A sample of 90 different models from three car manufacturers from the European market is stored in the file Cars .Source: Data extracted from bit.ly/2E4WEHF.Develop a multiple linear regression model to predict power output(kW), based on
14.4 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 average assets (ROAA), an indicator of how profitable a company is relative to its total assets. Data collected
14.3 A Web designer seeks to determine the effectiveness of an interactive educational website he designed for a school three months ago. Two independent variables under consideration are Variable Coefficients Standard Error t Stat p-Value Intercept 58.1583 50.5428 1.1507 0.2536 Initial Visits
14.2 Answer the following based on the given multiple regression equation below:Yn i = 45 + 8X1i - 15X2ia. Interpret the meaning of the slopes.b. Interpret the meaning of the Y intercept.
14.1 Answer the following based on the given partial output below:Coefficients Standard Error t Stat p-Value Intercept 8.57 10.76 2.30 0.82 X1 −1.92 0.02 9.76 0.00 X2 4.75 0.42 5.26 0.00a. State the multiple regression equation.b. Predict the dependent variable, Y, when X1 = 20 and X2 = 8.
13.85 In Problems 13.8, 13.20, 13.30, 13.46, 13.62, 13.82, and 13.83, you developed regression models to predict current value of MLB baseball, NBA basketball, and European soccer teams. Now, write a report based on the models you developed. Append to your report all appropriate charts and
13.84 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
13.83 In Problem 13.82 you used annual revenue to develop a model to predict the current value of NBA teams. Can you also use the annual revenues generated by European soccer teams to predict their current values? (European soccer team current values and revenues are stored in Soccer Values .)a.
13.82 Can you use the annual revenues generated by NBA teams to predict current values? Figure 2.17 on page 96 shows a scatter plot of team revenue and current value, and Figure 3.12 on page 168, shows the correlation coefficient. Now, you want to develop a simple linear regression model to predict
13.81 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
13.80 On January 28, 1986, the space shuttle Challenger exploded, and seven astronauts lost their lives. Engineers for the manufacturer of the rocket motor prepared charts to make the case that the launch should not take place due to the cold weather that day. These arguments were rejected, and the
13.79 A research study is conducted to test if there is any significant correlation between the rainfall and crop yield. The research determines that the annual rainfall range was between 168.8 mm and 1,737.9 mm and the variability in crop yield is in between 0.0% and 18.9%. Data are collected from
13.78 An analyst has the objective of predicting the return on average tangible common equity (ROATCE) of banks. The analyst begins by using efficiency ratio, a measure of a bank’s ability to turn resources into revenue. A sample of 100 American banks is selected and stored in American Banks .a.
13.77 You want to develop a model to predict the taxes of houses, based on asking price. A sample of 61 single-family houses listed for sale in Silver Spring, Maryland, a suburb of Washington, DC, is selected. The taxes (in $) and the asking price of the houses (in$thousands) are recorded and
13.76 You want to develop a model to predict the asking price of homes based on their size. A sample of 61 single-family houses listed for sale in Silver Spring, Maryland, a suburb of Washington, DC, is selected to study the relationship between asking price(in $thousands) and living space (in
13.75 Dillan is a sales executive at a local firm and is going to be travelling across the country to meet his customers. He wants to estimate how much he should allocate for his trip based on his expenses (£) on petrol per month and the round-trip distance (km)he will be covering during the trip.
13.74 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
13.73 In 2018, 12 regions in the Philippines were selected to determine if there is any relationship between daily minimum non-agricultural wage rates and population size. The data recorded in the file The Philippines is as shown below:Region Non-agricultural wage rates (₱) Population I 283
13.72 What is the difference between a confidence interval estimate of the mean response, mY X = Xi, and a prediction interval of YX = Xi?
13.71 When and how do you use the Durbin-Watson statistic?
13.70 How do you evaluate the assumptions of regression analysis?
13.69 What are the assumptions of regression analysis?
13.68 Why should you always carry out a residual analysis as part of a regression model?
13.67 When is the explained variation (i.e., regression sum of squares) equal to 0?
13.66 When is the unexplained variation (i.e., error sum of squares) equal to 0?
13.65 What is the interpretation of the coefficient of determination?
13.64 What is the interpretation of the Y intercept and the slope in the simple linear regression equation?
13.63 In Problem 13.10 on page 470, you used YouTube trailer views to predict movie weekend box office gross from data stored in Movie . A movie, about to be released, has 50 million YouTube trailer views.a. What is the predicted weekend box office gross?b. Which interval is more useful here, the
13.62 In Problem 13.8 on page 470, you used annual revenue to predict the value of a MLB baseball team, using the data stored in MLB Values .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%
13.61 In Problem 13.9 on page 470, 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 Silver Spring Rentals .a. Construct a 95% confidence interval estimate of the mean monthly rental for all
13.60 In Problem 13.6 on page 470, a prospective MBA student wanted to predict starting salary upon graduation, based on program per-year tuition. The data are stored in FTMBA .a. Construct a 95% confidence interval estimate of the mean starting salary upon graduation of an individual program with
13.59 In Problem 13.7 on page 470, 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
13.58 In Problem 13.4 on page 469, you used the engine size to predict power output of cars. Perform a residual analysis for these data (stored in Cars ). For these data, SYX = 37.7314 and hi = 0.0163 when X = 1,590.a. Construct a 95% confidence interval estimate of the mean power output for all
13.57 In Problem 13.5 on page 469, you used the summated rating of a restaurant to predict the cost of a meal. The data are stored in Restaurants .a. Construct a 95% confidence interval estimate of the mean cost of a meal for restaurants that have a summated rating of 50.b. Construct a 95%
13.55 Based on a sample of n = 25, the least-squares method was used to develop the following prediction line: Yn i = 40 - 2Xi. In addition, SYX = 20 X = 15 a ni = 1(Xi - X)2 = 50a. Construct a 95% confidence interval estimate of the population mean response for X = 5.b. Construct a 95% prediction
13.54 A survey by the Pew Research Center found that social networking is popular in many nations around the world. The file World Social Media contains the level of social media networking(measured as the percent of individuals polled who use social networking sites) and the GDP per capita based
13.53 The Global Sports Salaries Survey 2018 reported the average first-team pay, team-by-team for the world’s most popular sports leagues. The file League Pay contains the number of games per regular season and the average first-team pay per game.Source: Data extracted from Global Sports
13.52 Movie companies need to predict the gross receipts of an individual movie once the movie has debuted. The following results(stored in Potter Movies ) 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
13.51 The capital asset pricing model (CAPM) is a finance theory that establishes a linear relationship between the required return on an investment and risk. Let’s consider the model based on the relationship between the average return on the capital market and the risk premium. The file CAPM
13.50 Consider the movements of two share indexes, CSI 300 Index (CSIN0301) and CSI Overseas China Internet Index(H11137). The CSIN0301 is a modified free-float market capitalization weighted index comprising of the largest and most liquid stocks in the Chinese Ashare market. The H11137 is provided
13.49 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
13.48 In Problem 13.10 on page 470, you used YouTube trailer views to predict movie weekend box office gross from data 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 YouTube trailer views and movie weekend
13.47 In Problem 13.9 on page 470, 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 Silver Spring Rentals . Use the results of that problem.a. At the 0.05 level of significance, is there
13.46 In Problem 13.8 on page 470, you used annual revenues to predict the current value of a MLB baseball team, using the data stored in MLB Values . Use the results of that problem.a. At the 0.05 level of significance, is there evidence of a linear relationship between annual revenue and
13.45 In Problem 13.7 on page 470, you used the plate gap in the bag-sealing equipment to predict the tear rating of a bag of coffee.The data are stored in Starbucks . Use the results of that problem.a. At the 0.05 level of significance, is there evidence of a linear relationship between the plate
13.44 In Problem 13.6 on page 470, a prospective MBA student wanted to predict starting salary upon graduation, based on program per-year tuition. The data are stored in FTMBA . Use the results of that problem.a. At the 0.05 level of significance, is there evidence of a linear relationship between
13.43 In Problem 13.5 on page 469, you used the summated rating of a restaurant to predict the cost of a meal. The data are stored in Restaurants .a. At the 0.05 level of significance, is there evidence of a linear relationship between the summated rating of a restaurant and the cost of a meal?b.
13.42 In Problem 13.4 on page 469, you used the percentage of alcohol to predict wine quality. The data are stored in Vinho Verde . From the results of that problem, b1 = 0.5624 and Sb1 = 0.1127.a. At the 0.05 level of significance, is there evidence of a linear relationship between the percentage
13.41 You are testing the null hypothesis that there is no linear relationship between two variables, X and Y. From your sample of n = 17, you determine cov(X, Y) = 110.9118, SX = 50.4975, and SY = 2.3361.a. Compute the correlation of coefficient value.b. Test the null and alternative hypothesis
13.40 You are testing the null hypothesis that there is no linear relationship between two variables, X and Y. From your sample of n = 10, you determine that b1 = - 0.5194 and Sb1 = 23.1866a. What is the value of tSTAT?b. At the 0.05 level of significance, what are the critical values?c. Based on
13.39 You are testing the null hypothesis that there is no linear relationship between two variables, X and Y. From your sample of n = 25, you determine that r = 0.65.a. What is the value of the t test statistic, tSTAT?b. At the 0.05 level of significance, what are the critical values?c. Based on
13.38 Catherine has an online business selling the skincare products.To boost the website traffic, she wants to know the relationship between the numbers of new visitors to her website and the sales she can make in a day. She selects a sample of 50 consecutive days and stores the number of new
13.37 Nitrogen (N) is an essential part of life in which plants, animals and bacteria all use nitrogen in fundamental building blocks called amino acids, and these are joined together to make proteins. However, the use of nitrogen in agriculture significantly affects the weather change and causes
13.36 A mail-order catalog business that sells personal computer supplies, software, and hardware maintains a centralized warehouse for the distribution of products ordered.Management is currently examining the process of distribution from the warehouse and has the business objective of determining
13.35 Is there any relation between the inflation rate and the unemployment rate? The file Unemployment & Inflation contains the inflation rate and the unemployment rate among 103 countries for 2019.b. Use the least-squares method to develop a simple linear regression equation to predict the
13.34 In Problem 13.7 on page 470 concerning the bag-sealing equipment at Starbucks, you used the plate gap to predict the tear rating.a. Is it necessary to compute the Durbin-Watson statistic in this case? Explain.b. Under what circumstances is it necessary to compute the Durbin-Watson statistic
13.33 The residuals for 16 consecutive time periods are as follows:Time Period Residual Time Period Residual 1 +0.15 9 -0.09 2 +0.09 10 -0.08 3 +0.04 11 -0.07 4 +0.00 12 -0.06 5 -0.03 13 -0.03 6 -0.06 14 +0.00 7 -0.07 15 +0.04 8 -0.09 16 +0.06a. Plot the residuals over time. What conclusion can you
13.32 The residuals for 10 consecutive time periods are as follows:Time Period Residuals Time Period Residuals 1 -0.038 6 -0.013 2 -0.036 7 -0.004 3 -0.032 8 -0.002 4 -0.019 9 0.004 5 -0.017 10 0.023a. Plot the residuals over time. What is the purpose of such a plot?b. Based on (a), what conclusion
13.31 In Problem 13.10 on page 470, you used YouTube trailer views to predict movie weekend box office gross. Perform a residual analysis for these data (stored in Movie ). Based on these results, evaluate whether the assumptions of regression have been seriously violated.
13.30 In Problem 13.8 on page 470, you used annual revenues to predict the current value of a MLB baseball team. Perform a residual analysis for these data (stored in MLB Values ). Based on these results, evaluate whether the assumptions of regression have been seriously violated.
13.29 In Problem 13.9 on page 470, an agent for a real estate company wanted to predict the monthly rent for one-bedroom apartments, based on the size of the apartments. Perform a residual analysis for these data (stored in Silver Spring Rentals ). Based on these results, evaluate whether the
13.28 In Problem 13.6 on page 470, a prospective MBA student wanted to predict starting salary upon graduation, based on program per-year tuition. Perform a residual analysis for these data(stored in FTMBA ). Based on these results, evaluate whether the assumptions of regression have been seriously
13.27 In Problem 13.7 on page 470, you used the plate gap on the bag-sealing equipment to predict the tear rating of a bag of coffee.Perform a residual analysis for these data (stored in Starbucks ).Based on these results, evaluate whether the assumptions of regression have been seriously violated.
13.25 In Problem 13.5 on page 469, you used the summated rating to predict the cost of a restaurant meal. Perform a residual analysis for these data (stored in Restaurants ). Evaluate whether the assumptions of regression have been seriously violated.TEST SELF 13.26 In Problem 13.4 on page 469, you
13.24 Consider the following graphs of the scatterplot for variable Y versus X, the histogram of the standardized residuals, the residuals versus X plot for a given set of data X and Y.Justify whether each model is appropriate for the given set of data, X and Y, by interpreting each plot. Residuals
13.23 The following results provide a residual plot from a regression analysis for the standardized residuals versus the X values.Interpret the plot. 2 Residuals Residual Plot of .8 1 1.2 x
13.22 In Problem 13.10 on page 470, you used YouTube trailer views to predict movie weekend box office gross (stored in Movie ). Using the results of that problem,a. determine the coefficient of determination, r2, and interpret its meaning.b. determine the standard error of the estimate.c. How
13.21 In Problem 13.9 on page 470, an agent for a real estate company wanted to predict the monthly rent for one-bedroom apartments, based on the size of the apartment (stored in Silver Spring Rentals ). Using the results of that problem,a. determine the coefficient of determination, r2, and
13.20 In Problem 13.8 on page 470, you used annual revenues to predict the current value of a MLB baseball team, using the data stored in MLB Values . Using the results of that problem,a. determine the coefficient of determination, r2, and interpret its meaning.b. determine the standard error of
13.19 In Problem 13.7 on page 470, you used the plate gap on the bag-sealing equipment to predict the tear rating of a bag of coffee(stored in Starbucks ). Using the results of that problem,a. determine the coefficient of determination, r2, and interpret its meaning.b. determine the standard error
13.18 In Problem 13.6 on page 470, a prospective MBA student wanted to predict starting salary upon graduation, based on program per-year tuition (stored in FTMBA ). Using the results of that problem,a. determine the coefficient of determination, r2, and interpret its meaning.b. determine the
13.17 In Problem 13.5 on page 469, you used the summated rating to predict the cost of a restaurant meal (stored in Restaurants ).a. Determine the coefficient of determination, r2, and interpret its meaning.b. Determine the standard error of the estimate.c. How useful do you think this regression
13.16 In Problem 13.4 on page 469, the engine size(displacement) was used to predict power output of the cars (stored in Cars ). For those data, SSR = 213,502.341 and SST = 338,784.114.a. Determine the coefficient of determination, r2, and interpret its meaning.b. Determine the standard error of
13.15 Define the range of the coefficient of determination, r2, and explain what it means if r2 has greater value?
13.14 If SSE = 80 with df = 20, calculate the standard error of estimate, Sxy, and interpret its meaning.
13.13 If SSR = 29 and SST = 104 for a set of 17 observations, determine the standard error of the estimate, SXY, and interpret its meaning.
13.12 If SSR = 205 and SSE = 80, determine SST and then compute the coefficient of determination, r2, and interpret its meaning.
13.11 How do you interpret a coefficient of determination, r2, equal to 0.65?
13.10 A box office analyst seeks to predict opening weekend box office gross for movies. Toward this goal, the analyst plans to use YouTube trailer views as a predictor. For each of 66 movies, the YouTube trailer view count, the number of YouTube trailer views from the release of the trailer
13.9 An agent for a residential real estate company in a suburb located outside of Washington, DC, has the business objective of developing more accurate estimates of the monthly rental cost for apartments. Toward that goal, the agent would like to use the size of an apartment, as defined by square
13.8 The value of a sports franchise is directly related to the amount of revenue that a franchise can generate. The file represents the current value in a recent year (in $millions) and the annual revenue (in $millions) for the 30 MLB baseball teams.Source: Data extracted from
13.7 Starbucks Coffee Co. uses a data-based approach to improve 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
13.6 Is an MBA a golden ticket? Pursuing an MBA is a major personal investment. Tuition and expenses associated with business school programs are costly, but the high costs come with hopes of career advancement and high salaries. A prospective MBA student would like to examine the factors that
13.5 Zagat’s publishes restaurant ratings for various locations in the United States. The file Restaurants contains the Zagat rating for food, décor, service, and the cost per person for a sample of 100 restaurants located in the center of New York City and in an outlying area of New York City.
13.4 A car’s power output is primarily influenced by the size of its engine. A sample of 90 different car models of three car manufacturers from the European market is stored in the file Cars . Develop a simple regression model to predict power output(kW), based on engine size (displacement, in
13.2 Identify which of the following is an interpolation or extrapolation prediction if the values X in Problem 13.1 range from 11 to 38:a. 10b. 25c. 33d. 41 13.3 Fitting a straight line to a set of data yields the following prediction line:Yn= 8 - 3Xa. Interpret the meaning of the Y intercept,
13.1 Fitting a straight line to a set of data yields the following prediction line:Yn i = 7 + 2Xia. Interpret the meaning of the Y intercept, b0.b. Interpret the meaning of the slope, b1.c. Predict the value of Y for X = 3.
12.59 Do Americans trust advertisements? A survey by YouGov asked Americans who view advertisements at least once a month how honest the advertisements that they see, read, and hear are. The following table presents the survey results.HONEST?GEOGRAPHIC REGION Northeast Midwest South West Total Yes
12.58 Business leaders around the world are becoming aware of the huge potential of digital transformation. Fujitsu conducted a global survey to find out more about how business leaders are responding to the digital transformation revolution. To assess the extent of business embarkment on digital
12.57 What social media tools do marketers commonly use? The Social Media Examiner surveyed marketers who commonly use an indicated social media tool. Surveyed were both B2B marketers, marketers that focus primarily on attracting businesses, and B2C marketers, marketers that primarily target
12.56 Undergraduate students at Miami University in Oxford, Ohio, were surveyed in order to evaluate the effect of gender and price on purchasing a pizza from Pizza Hut. Students were told to suppose that they were planning to have a large two-topping pizza delivered to their residence that
12.55 Under what conditions should you use the Kruskal-Wallis rank test instead of the one-way ANOVA?
12.54 Under what conditions should you use the Wilcoxon rank sum test instead of the t test for the difference between the means?
12.53 Under what conditions should you use the x2 test of independence?
12.52 Under what conditions should you use the x2 test to determine whether there is a difference among the proportions of more than two independent populations?
12.51 Under what conditions should you use the x2 test to determine whether there is a difference between the proportions of two independent populations?
12.50 The more costly and time consuming it is to export and import, the more difficult it is for local companies to be competitive and to reach international markets. As part of an initial investigation exploring foreign market entry, 10 countries were selected from each of four global regions.
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