Question 8 The following regression results relate to a study of the salaries of public-school teachers...
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Question 8 The following regression results relate to a study of the salaries of public-school teachers in a mid-western city (the sample size was 450 teachers): Variable Coefficient Standard Error Constant 20,720 6,820 EXP 805 258 = R-squared 0.684; Standard error of the estimate = 2,000. EXP is the experience of teachers in years of full-time teaching. Assuming a one tailed t test, what is the table value of the test if confidence level is 0.95? (Use Excel to calculate the value with 6 decimal places) 3 pts Question 9 The following regression results relate to a study of the salaries of public-school teachers in a mid-western city (the sample size was 450 teachers): Variable Coefficient Standard Error Constant 20,720 6,820 EXP 805 258 R-squared 0.684; = Standard error of the estimate = 2,000. EXP is the experience of teachers in years of full-time teaching. What is the higher limit of the approximate 95 percent confidence interval for your 20 years of experience point estimate? 3 pts Question 10 Nelson Industries manufactures a part for a type of aircraft engine that is becoming obsolete. The sales history for the last 10 years is as follows: Year Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Sales 945 875 760 690 545 420 305 285 250 210 Use the above table to estimate a regression model for a linear time trend of sales, and answer the following questions. What is the mean absolute percent error of the linear regression estimates for these 10 years? 4 pts Question 8 The following regression results relate to a study of the salaries of public-school teachers in a mid-western city (the sample size was 450 teachers): Variable Coefficient Standard Error Constant 20,720 6,820 EXP 805 258 = R-squared 0.684; Standard error of the estimate = 2,000. EXP is the experience of teachers in years of full-time teaching. Assuming a one tailed t test, what is the table value of the test if confidence level is 0.95? (Use Excel to calculate the value with 6 decimal places) 3 pts Question 9 The following regression results relate to a study of the salaries of public-school teachers in a mid-western city (the sample size was 450 teachers): Variable Coefficient Standard Error Constant 20,720 6,820 EXP 805 258 R-squared 0.684; = Standard error of the estimate = 2,000. EXP is the experience of teachers in years of full-time teaching. What is the higher limit of the approximate 95 percent confidence interval for your 20 years of experience point estimate? 3 pts Question 10 Nelson Industries manufactures a part for a type of aircraft engine that is becoming obsolete. The sales history for the last 10 years is as follows: Year Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Sales 945 875 760 690 545 420 305 285 250 210 Use the above table to estimate a regression model for a linear time trend of sales, and answer the following questions. What is the mean absolute percent error of the linear regression estimates for these 10 years? 4 pts
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