tate of Vermont has collected the following data on annual sales tax colle ction
ID: 3058872 • Letter: T
Question
tate of Vermont has collected the following data on annual sales tax colle ction (Sales) and new car registration (Registration), for period 2010-2016, as shown in table below. Year Sales Tax Revenue (Smilions) Registration (thousands) 2010 2011 2012 2013 2014 2015 201 10 12 15 1.8 14 17 20 2.3 The following model was estimated, relating sales tax revenues (Sales) and new car registrations Sales tax revenue a+ b Registration Where: Sales Annual sales tax collection (in millions of dollars), and Registration thousands) new car registrations (in The Excel solution to this problem is reported in the following table: Multiple R R Square Adjusted R Square Standard Error Observations ANOVA 0.966488866 0.934100729 0.920920874 0.12516069 Sign/ficance F 0.00038778 MS ression 11.110245437 1.110245437 7087337297 Residual Total 50.078325991 0.015665198 6 1.188571429 Coefficients Standard Error 0.15814978 0.235696405 0.130837004 P-value Lower 95% 73 0235696405 0670958 0531971316 64026678 0.44777119 004 0.0155413618.418632488 0.00038778 0.090886665 0.170787344 Upper 95% Registration the estimated model is Sales tax revenue --0.1582+0.1308 Registration of the variations in sales tax collection does this model explain? tween sales tax revenue and the number of new car registrations? b. What is the correlation b. What is ttation of the slope coefficient b 0.1308? d. Use the estimated predicted y model to predicted torecasted)sals tax revenue if new car registration is 22,000.Explanation / Answer
tate of Vermont has collected the following data on annual sales tax colle ction (Sales) and new car registration (Registration), for period 2010-2016, as shown in table below. Year Sales Tax Revenue (Smilions) Registration (thousands) 2010 2011 2012 2013 2014 2015 201 10 12 15 1.8 14 17 20 2.3 The following model was estimated, relating sales tax revenues (Sales) and new car registrations Sales tax revenue a+ b Registration Where: Sales Annual sales tax collection (in millions of dollars), and Registration thousands) new car registrations (in The Excel solution to this problem is reported in the following table: Multiple R R Square Adjusted R Square Standard Error Observations ANOVA 0.966488866 0.934100729 0.920920874 0.12516069 Sign/ficance F 0.00038778 MS ression 11.110245437 1.110245437 7087337297 Residual Total 50.078325991 0.015665198 6 1.188571429 Coefficients Standard Error 0.15814978 0.235696405 0.130837004 P-value Lower 95% 73 0235696405 0670958 0531971316 64026678 0.44777119 004 0.0155413618.418632488 0.00038778 0.090886665 0.170787344 Upper 95% Registration the estimated model is Sales tax revenue --0.1582+0.1308 Registration of the variations in sales tax collection does this model explain? tween sales tax revenue and the number of new car registrations? b. What is the correlation b. What is ttation of the slope coefficient b 0.1308? d. Use the estimated predicted y model to predicted torecasted)sals tax revenue if new car registration is 22,000.
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