34.The table below shows the number of cars sold last month by seven employees a
ID: 1214315 • Letter: 3
Question
34.The table below shows the number of cars sold last month by seven employees at Concord Motors and their number of years of sales experience.
Experience
Sales
1
8
2
6
2
7
4
14
5
9
6
13
8
10
Management would like to use simple regression analysis to estimate monthly car sales using the number of years of sales experience. The y-intercept for the regression equation is .
A) 2.165 B) 6.940 C) 4.598 D) 8.337
35.The measures the amount of dispersion of observed data around a regression line.
A.coefficient of determination B) standard error of the estimate
C) correlation coefficient D) standard error of the slope
36.Costco sells paperback books in their retail stores and wanted to examine the relationship between price and demand. The price of a particular novel was adjusted each week and the weekly sales were recorded in the table below.
Sales
Price
3
$12
4
$11
6
$10
10
$9
8
$8
10
$7
Management would like to use simple regression analysis to estimate weekly demand for this novel using the price of the novel. The standard error of the estimate is .
A) 1.76 B) 3.30 C) 1.38 D) 1.09
37.The variable y represents the in the regression model.
A.residual
B.value of the dependent variable
C.predicted value for the dependent variable
D.value of the independent variable
38.The test statistic for testing the significance for the regression coefficient follows the .
A.Student's t-distribution B) chi-square distribution
C) F-distribution D) normal distribution
Experience
Sales
1
8
2
6
2
7
4
14
5
9
6
13
8
10
Explanation / Answer
Therefore, The y-intercept for the regression equation is B) 6.940
35.The standard error of the estimate measures the amount of dispersion of observed data around a regression line.
36) 3.30
37) value of the dependent variable
38) .Student's t-distribution
SUMMARY OUTPUT Regression Statistics Multiple R 0.553354 R Square 0.306201 Adjusted R Square 0.167441 Standard Error 2.730089 Observations 7 ANOVA df SS MS F Significance F Regression 1 16.44737 16.44737 2.206698 0.197548 Residual 5 37.26692 7.453383 Total 6 53.71429 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 6.93985 2.050131 3.385077 0.019566 1.669821 12.20988 1.669821 12.20988 Experience 0.657895 0.442879 1.485496 0.197548 -0.48056 1.796351 -0.48056 1.796351Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.