Find the best model for predicting Y based on X1 and X2 is the amount of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Find the best model for predicting Y based on X1 and X2 is the amount of profit that a company makes in a month. X1 is the number of months that the company has been in business. X2 is the amount spent on ad- vertising. Consider as predictors all possible linear and quadratic terms (X1, X1, X2, X2, and X1X2). Consid- er possible transformations of Y. Include all appropriate diagnostics. When you have found your "best" model, predict a new Y when X1 = 20 and X2 = $1,500, giving a 95% prediction interval. The data set, shown below, appears in "Profits.xlsx". X1 X2 1 $1,928 $12,577 2 $1,366 $12,720 3 $1,402 $13,244 Y X1 X2 Y 4 $1,325 $13,741 5 $1,561 $14,157 14 $1,091 $18,078 15 $2,769 $15,982 16 $1,914 $17,433 17 $2,074 $17,421 18 $1,482 $18,696 6 $1,557 $14,575 19 $2,562 $16,978 7 $1,242 $15,170 20 $1,834 $18,566 8 $2,195 $14,990 21 $2,787 $16,854 9 $2,251 $15,230 10 $2,196 $15,530 22 $2,975 $16,580 23 $2,131 $18,615 11 $1,720 $16,258 24 $1,861 $19,421 12 $1,564 $16,758 25 $1,522 $20,396 13 $2,542 $12,577 Find the best model for predicting Y based on X1 and X2 is the amount of profit that a company makes in a month. X1 is the number of months that the company has been in business. X2 is the amount spent on ad- vertising. Consider as predictors all possible linear and quadratic terms (X1, X1, X2, X2, and X1X2). Consid- er possible transformations of Y. Include all appropriate diagnostics. When you have found your "best" model, predict a new Y when X1 = 20 and X2 = $1,500, giving a 95% prediction interval. The data set, shown below, appears in "Profits.xlsx". X1 X2 1 $1,928 $12,577 2 $1,366 $12,720 3 $1,402 $13,244 Y X1 X2 Y 4 $1,325 $13,741 5 $1,561 $14,157 14 $1,091 $18,078 15 $2,769 $15,982 16 $1,914 $17,433 17 $2,074 $17,421 18 $1,482 $18,696 6 $1,557 $14,575 19 $2,562 $16,978 7 $1,242 $15,170 20 $1,834 $18,566 8 $2,195 $14,990 21 $2,787 $16,854 9 $2,251 $15,230 10 $2,196 $15,530 22 $2,975 $16,580 23 $2,131 $18,615 11 $1,720 $16,258 24 $1,861 $19,421 12 $1,564 $16,758 25 $1,522 $20,396 13 $2,542 $12,577
Expert Answer:
Posted Date:
Students also viewed these mathematics questions
-
The receiver most commonly used in AM and FM radio broadcast is the so-called superheterodyne receiver. Answer the following questions about this receiver. a. Draw the block diagram of a...
-
Are auditors responsible for catching material fraud?
-
Interpret the quote in the context of what youve learned about jobs and salaries. Never confuse the size of your paycheck with the size of your talent.
-
Visit the Information Systems Audit and Control Associations (ISACA) Web site (www.isaca.org) to review the COBIT framework (version 4.1). Complete the following matrix to show how the 34 high-level...
-
A manufacturer produces both a deluxe and a standard model of an automatic sander designed for home use. Selling prices obtained from a sample of retail outlets follow. a. The manufacturer's...
-
4. Frame-It's production manager attempts to end each quarter with enough finished-goods inventory in each product line to cover 25 percent of the following quarter's sales. At December 31, 2023 the...
-
In December 2018, McDonald's approaches a large commercial chicken producer to supply them with chicken meat for their Chicken McNuggets. However, the catch is that McDonald's demands a price agreed...
-
List differences between the corruption analysis pattern described here and the traditional methods.
-
Show how to do qualitative measurements: Reuse, complexity, and coupling between classes for trust SAP.
-
Describe the characteristics of EBT, BO, and IO.
-
The analysis stable analysis pattern can be applied and extended to any domain (T/F).
-
The term analysis is a generic term, which could be used in different contexts and situations. Do you agree? If yes, give your reasons.
-
If a transformer's primary winding has 200 turns and the secondary winding has 600 turns, the turns ratio is Oa. 4:1 b. 1:4 c. 3:1 d. 1:3
-
1. Which of the four major types of information systems do you think is the most valuable to an organization? 2. How do you critically associate the ideas of business agility and business efficiency...
-
Preferred stock that may be converted into common stock has which of the following characteristics? a. Call feature b. Cumulative feature c. Participation feature d. Convertible feature
-
A dividend that is paid every quarter or every year is called? a. Regular dividend b. Special dividend c. Property dividend d. Stock dividend
-
What is the meaning of each of the following terms: corporation, articles of incorporation, corporate charter, board of directors, corporate officers, and organization costs?
Study smarter with the SolutionInn App