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Exam 13: Simple Linear Regression

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Question 91

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TABLE 13-4 The managers of a brokerage firm are interested in finding out if the number of new clients a broker brings into the firm affects the sales generated by the broker.They sample 12 brokers and determine the number of new clients they have enrolled in the last year and their sales amounts in thousands of dollars.These data are presented in the table that follows. -Referring to Table 13-4,suppose the managers of the brokerage firm want to construct a 99% prediction interval for the sales made by a broker who has brought into the firm 18 new clients.The prediction interval is from ________ to ________.

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Question 92

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TABLE 13-2 A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product.To do this,the company randomly chooses 6 small cities and offers the candy bar at different prices.Using candy bar sales as the dependent variable,the company will conduct a simple linear regression on the data below: -Referring to Table 13-2,what is the coefficient of correlation for these data?

A) -0.8854
B) -0.7839
C) 0.7839
D) 0.8854

E) B) and D)
F) B) and C)

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Question 93

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TABLE 13-4 The managers of a brokerage firm are interested in finding out if the number of new clients a broker brings into the firm affects the sales generated by the broker.They sample 12 brokers and determine the number of new clients they have enrolled in the last year and their sales amounts in thousands of dollars.These data are presented in the table that follows. -Referring to Table 13-4,set up a scatter plot.

TABLE 13-2 A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product.To do this,the company randomly chooses 6 small cities and offers the candy bar at different prices.Using candy bar sales as the dependent variable,the company will conduct a simple linear regression on the data below: -Referring to Table 13-2,to test whether a change in price will have any impact on sales,what would be the critical values? Use α = 0.05.

TABLE 13-2 A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product.To do this,the company randomly chooses 6 small cities and offers the candy bar at different prices.Using candy bar sales as the dependent variable,the company will conduct a simple linear regression on the data below: -Referring to Table 13-2,what is the estimated slope for the candy bar price and sales data?

TABLE 13-10 The management of a chain electronic store would like to develop a model for predicting the weekly sales (in thousands of dollars)for individual stores based on the number of customers who made purchases.A random sample of 12 stores yields the following results: -Referring to Table 13-10,what is the value of the F test statistic when testing whether the number of customers who make purchases is a good predictor for weekly sales?

The coefficient of determination represents the ratio of SSR to SST.

TABLE 13-5 The managing partner of an advertising agency believes that his company's sales are related to the industry sales.He uses Microsoft Excel to analyze the last 4 years of quarterly data (i.e.,n = 16)with the following results: -Referring to Table 13-5,the prediction for a quarter in which X = 120 is Y = ________.

TABLE 13-3 The director of cooperative education at a state college wants to examine the effect of cooperative education job experience on marketability in the work place.She takes a random sample of 4 students.For these 4,she finds out how many times each had a cooperative education job and how many job offers they received upon graduation.These data are presented in the table below. -Referring to Table 13-3,the standard error of estimate is ________.

TABLE 13-12 The manager of the purchasing department of a large saving and loan organization would like to develop a model to predict the amount of time (measured in hours)it takes to record a loan application.Data are collected from a sample of 30 days,and the number of applications recorded and completion time in hours is recorded.Below is the regression output: Note: 4.3946E-15 is 4.3946 × -Referring to Table 13-12,the model appears to be adequate based on the residual analyses.

TABLE 13-3 The director of cooperative education at a state college wants to examine the effect of cooperative education job experience on marketability in the work place.She takes a random sample of 4 students.For these 4,she finds out how many times each had a cooperative education job and how many job offers they received upon graduation.These data are presented in the table below. -Referring to Table 13-3,the least squares estimate of the Y-intercept is ________.

TABLE 13-12 The manager of the purchasing department of a large saving and loan organization would like to develop a model to predict the amount of time (measured in hours) it takes to record a loan application.Data are collected from a sample of 30 days,and the number of applications recorded and completion time in hours is recorded.Below is the regression output: Note: 4.3946E-15 is 4.3946 × -Referring to Table 13-12,the degrees of freedom for the F test on whether the number of load applications recorded affects the amount of time are

The width of the prediction interval for the predicted value of Y is dependent on

In performing a regression analysis involving two numerical variables,you are assuming

TABLE 13-4 The managers of a brokerage firm are interested in finding out if the number of new clients a broker brings into the firm affects the sales generated by the broker.They sample 12 brokers and determine the number of new clients they have enrolled in the last year and their sales amounts in thousands of dollars.These data are presented in the table that follows. -Referring to Table 13-4,the managers of the brokerage firm wanted to test the hypothesis that the number of new clients brought in had a positive impact on the amount of sales generated.The value of the test statistic is ________.

TABLE 13-1 A large national bank charges local companies for using their services.A bank official reported the results of a regression analysis designed to predict the bank's charges (Y) measured in dollars per monthfor services rendered to local companies.One independent variable used to predict service charges to a company is the company's sales revenue (X) measured in millions of dollars.Data for 21 companies who use the bank's services were used to fit the model: Yᵢ = β₀ + β₁Xi + Eᵢ The results of the simple linear regression are provided below. -Referring to Table 13-1,interpret the p-value for testing whether β₁ exceeds 0.

TABLE 13-12 The manager of the purchasing department of a large saving and loan organization would like to develop a model to predict the amount of time (measured in hours) it takes to record a loan application.Data are collected from a sample of 30 days,and the number of applications recorded and completion time in hours is recorded.Below is the regression output: Note: 4.3946E-15 is 4.3946 × -Referring to Table 13-12,the p-value of the measured F test statistic to test whether the number of loan applications recorded affects the amount of time is

TABLE 13-12 The manager of the purchasing department of a large saving and loan organization would like to develop a model to predict the amount of time (measured in hours)it takes to record a loan application.Data are collected from a sample of 30 days,and the number of applications recorded and completion time in hours is recorded.Below is the regression output: Note: 4.3946E-15 is 4.3946 × -Referring to Table 13-12,predict the amount of time it would take to process 150 invoices.

TABLE 13-11 A computer software developer would like to use the number of downloads (in thousands)for the trial version of his new shareware to predict the amount of revenue (in thousands of dollars)he can make on the full version of the new shareware.Following is the output from a simple linear regression along with the residual plot and normal probability plot obtained from a data set of 30 different sharewares that he has developed: -Referring to Table 13-11,what is the p-value for testing whether there is a linear relationship between revenue and the number of downloads at a 5% level of significance?

The sample correlation coefficient between X and Y is 0.375.It has been found out that the p-value is 0.256 when testing H₀: ρ = 0 against the two-sided alternative H₁: ρ ≠ 0.To test H₀: ρ = 0 against the one-sided alternative H₁: ρ < 0 at a significance level of 0.1,the p-value is