If a company wanted to see what was impacting profits, on what variables might it collect...
An analyst at a local automotive garage wanted to see if there were relationships between repair time in hours (y) and months since last service(x1), type of repair(x2), whether it was a truck or car(x3), or the mileage of the vehicle(x4). Use a level of significance of 0.05. 1. What is the dependent variable? 2. What are the independent variables? 3. Run the regression analysis with the four independent variables. Write out the prediction equation. 4. From a global perspective...
A movie theater wanted to determine what factors might be influencing their ticket sales. They decided to conduct a multiple linear regression with 4 predictor variables. They took a sample size of 27 weeks. Using the ANOVA table below find the degrees of freedom for error. Round to 2 decimal places as necessary. source df sum of squares mean square f ratio model 16.1 2.76 error 208.8 13.12 total
Lurking variables are those that were not included in regression analysis, but are actually the true independent variable. For example, studies show that where there is an increase in ice cream sales, there is also an increase in the number of drownings. Now, ice cream does not affect drowning. The lurking variable in this case is the temperature. As the temperature rises, people buy ice cream and they go swimming. More people swimming will increase the number of drownings. Statisticians...
WHAT STATISTIC WOULD YOU USE IF YOU WANTED TO SEE IF THERE WAS A DIFFERENCE BETWEEN THREE ETHNIC GROUPS ON MATH? EXPLAIN WHY
Scatter diagrams allow us to see relationships between two variables. Cite an example of two variables that might have a strong positive relationship. What would that scatter diagram look like? Next, cite an example of two variables that have very little relationship and describe what that scatter diagram would look like. Last, tell us why illustrating data in this way is helpful.
Besides your independent variable, what other factors (additional variables, additional types of information) might you consider in trying to improve your understanding of the relationship between the assigned independent and dependent variable? Why? Be sure to specifically address the strength of the relationship you uncovered in the previous question. Do not provide a general discussion of regression.
2. What steps should you follow to collect information for marketing research? 3. What are the 4P’s? 4. What are some other important factors beyond the 4P’s? 5. How can one “segment” the market? Why is segmentation important? 6. What is marketing strategy? 7. When dealing with “marketing reality,” what are the three questions that need to be addressed? 8. Why would a company need to forecast sales?
Discuss what you might expect to see if the organization’s strategic and process management thinking isn’t aligned, either because leadership is weak with respect to articulating the strategy, or processes are generally not managed in the organization or both. What might be the symptoms or problems you would expect to encounter under any of those scenarios? What would you, as an industrial engineer, suggest or attempt doing if such a situation were to present itself in your organization?
How is a corporation like a person? How are they different? Why might one argue that a corporation is a moral agent? That is to say, what moral obligations does a corporation have that are similar to those moral obligations a person has to himself and others? Finally, some argue that the only responsibility a company has is to increase its profits and nothing else. What are your thoughts on this statement and can you think of any instances where...
A tech company wanted to determine what factors influenced sales in the first week of a new product launch. They identified 3 predictor variables and used a sample size of 8 product launches. Using this information and the table below, find SSE. Round to 2 decimal places as necessary. Source DF Sum of Squares Mean Square F Ratio Model 2.64 Error 13.21 Total