The following linear regression model is estimated to determine the Weekly sales ($000’s) in a fast...
The following linear regression model is estimated to determine the Weekly sales ($000’s) in a fast food restaurant against number of vouchers printed in the local newspaper for the sample of 100 observations. Sales = 11.5676 + 0.4618 Vouchers + e (s.e) (0.8341) (0.1001) (a) Interpret the intercept. Does this make sense? (b) Interpret the slope coefficient. (c) Test the significance of the slope against a suitable one-tailed alternative, at the 5% level of significance. Justify your choice of the direction in your alternative hypothesis. (d) Predict weekly sales in the fast food restaurant if 10 vouchers are printed in the local newspaper.
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The following linear regression model is estimated to determine
the Weekly sales ($000’s) in a fast...
2. Using data from 2013 on 64 black females, the estimated linear regression between WAGE (earnings...
2. Using data from 2013 on 64 black females, the estimated linear regression between WAGE (earnings per hour, in S) and years of education, EDUC is WAGE8.451.99EDUC The standard error of the estimated slope coefficient is 0.52. Construct and interpret a 95% interval estimate for the effect of an additional year of education on a black female's expected hourly wage rate a. b. The standard error of the estimated intercept is 7.39. Test the null hypothesis that the intercept A-0...
Management proposed the following regression model to predict sales at fast food outlet. ? = ?0...
Management proposed the following regression model to predict sales at fast food outlet. ? = ?0 + ?1?1 + ?2?2 + ?3?3 + ? where ?1 = ?????? ?? ??????????? ???ℎ??? ??? ???? ?2 = ?????????? ???ℎ?? ??? ????(1000?) ?3 = { 1 ?? ???? − ?? ?????? ??????? 0 ??ℎ?? ???? ? = ????? ($1000?) The following estimated regression equation was developed after 20 outlets were surveyed. ?̂ = 20.2 + 3.2?1 + 5.8?2 + 25.7?3 a. What is...
Management proposed the following regression model to predict sales at a fast-food outlet. y Po +...
Management proposed the following regression model to predict sales at a fast-food outlet. y Po + P, +B,+Bt,+e where number of competitors within one mile x,= population within one mile (1000s) lif drive-up window present O otherwise y= sales ($1000s) The following estimated regression equation was developed after 20 outlets were surveyed. =10.7-4.81 +6.1a2 +15.23 a. What is the expected amount of sales attributable to the drive-up window? b.Predict sales for a store with two competitors, a population of 8,000...
Management proposed the following regression model to predict sales at a fast-food outlet. y Po+ BBx, +B,x, +e wher...
Management proposed the following regression model to predict sales at a fast-food outlet. y Po+ BBx, +B,x, +e where number of competitors within one mile x, x2 population within one mile (1000s) drive-up window present l0 otherwise y sales ($1000s) The following estimated regression equation was developed after 20 outlets were surveyed. i-10.5-4.3 +6.2 +15.5z3 a. What is the expected amount of sales attributable to the drive-up window? b. Predict sales for a store with two competitors, a population of...
Problem 5- Simple Linear Regression The following data represent the number of flash drives sold per...
Problem 5- Simple Linear Regression The following data represent the number of flash drives sold per day at a local computer shop and their prices Price $34 36 32 35 30 Units Sold 6 40 A computer output is produced to examine this relationship further SUMMA RY OUTPUT Regression Statistics Multiple R RSquare Adjusted R Square Standard Error Observations 0.924982 0.855592 0.826711 1.119949 7 ANOVA MS gnificance F Regression Residual Total 137.15714 37.15714 29.62415 0.002842 5 б,271429 1.254286 6 43.42857...
One would suspect that new home construction and sales depend on mortgage interest rates. If interest...
One would suspect that new home construction and sales depend on mortgage interest rates. If interest rates are high, fewer people will be able to afford to borrow the funds necessary to finance the purchase of a new home. Builders are aware of this fact, therefore when interest rates are high, they will be less inclined to build new homes. A question of interest is “If interest rates go up by 1% by how much does home construction fall?”. Data...
gretl: model 1 File Edit Tests Save Graphs Analysis LaTeX Question 5 In your first year...
gretl: model 1 File Edit Tests Save Graphs Analysis LaTeX Question 5 In your first year microeconomics course you learned about differentiated products. As an econometrics student differentiated products are interesting because they are prime candidates for hedonic price modelling. As mentioned in class, a hedonic price model is a regression model that relates the price of a differentiated product (a residential house in this case) to its characteristics. For this assignment you will construct a simple hedonic model for...
Instruction: Read the cases below and answer the questions within 60 minutes Case Part 1 Jennie...
Instruction: Read the cases below and answer the questions within 60 minutes Case Part 1 Jennie Garcia could not believe that her career had moved so far so fast. When she left gradua a master's degree in anthropology, she intended to work at a local coffee shop until something along that was more related to her academic background. But after a few months, she came to business, and in a little more than a year, she was promoted to store...
The following ANOVA model is for a multiple regression model with two independent variables: Degrees of Sum of Mean Source Freedom Squares ...
The following ANOVA model is for a multiple regression model
with two independent variables:
Degrees
of
Sum
of
Mean
Source
Freedom
Squares
Squares
F
Regression
2
60
Error
18
120
Total
20
180
Determine the Regression Mean Square (MSR):
Determine the Mean Square Error (MSE):
Compute the overall Fstat test statistic.
Is the Fstat significant at the 0.05 level?
A linear regression was run on auto sales relative to consumer
income. The Regression Sum of Squares (SSR) was 360 and...
2. Using data from 2013 on 64 black females, the estimated linear regression between WAGE (earnings per hour, in S) and years of education, EDUC is WAGE8.451.99EDUC The standard error of the estimated slope coefficient is 0.52. Construct and interpret a 95% interval estimate for the effect of an additional year of education on a black female's expected hourly wage rate a. b. The standard error of the estimated intercept is 7.39. Test the null hypothesis that the intercept A-0...
Management proposed the following regression model to predict sales at a fast-food outlet. y Po + P, +B,+Bt,+e where number of competitors within one mile x,= population within one mile (1000s) lif drive-up window present O otherwise y= sales ($1000s) The following estimated regression equation was developed after 20 outlets were surveyed. =10.7-4.81 +6.1a2 +15.23 a. What is the expected amount of sales attributable to the drive-up window? b.Predict sales for a store with two competitors, a population of 8,000...
Management proposed the following regression model to predict sales at a fast-food outlet. y Po+ BBx, +B,x, +e where number of competitors within one mile x, x2 population within one mile (1000s) drive-up window present l0 otherwise y sales ($1000s) The following estimated regression equation was developed after 20 outlets were surveyed. i-10.5-4.3 +6.2 +15.5z3 a. What is the expected amount of sales attributable to the drive-up window? b. Predict sales for a store with two competitors, a population of...
Problem 5- Simple Linear Regression The following data represent the number of flash drives sold per day at a local computer shop and their prices Price $34 36 32 35 30 Units Sold 6 40 A computer output is produced to examine this relationship further SUMMA RY OUTPUT Regression Statistics Multiple R RSquare Adjusted R Square Standard Error Observations 0.924982 0.855592 0.826711 1.119949 7 ANOVA MS gnificance F Regression Residual Total 137.15714 37.15714 29.62415 0.002842 5 б,271429 1.254286 6 43.42857...
gretl: model 1 File Edit Tests Save Graphs Analysis LaTeX Question 5 In your first year microeconomics course you learned about differentiated products. As an econometrics student differentiated products are interesting because they are prime candidates for hedonic price modelling. As mentioned in class, a hedonic price model is a regression model that relates the price of a differentiated product (a residential house in this case) to its characteristics. For this assignment you will construct a simple hedonic model for...
Instruction: Read the cases below and answer the questions within 60 minutes Case Part 1 Jennie Garcia could not believe that her career had moved so far so fast. When she left gradua a master's degree in anthropology, she intended to work at a local coffee shop until something along that was more related to her academic background. But after a few months, she came to business, and in a little more than a year, she was promoted to store...
The following ANOVA model is for a multiple regression model
with two independent variables:
Degrees
of
Sum
of
Mean
Source
Freedom
Squares
Squares
F
Regression
2
60
Error
18
120
Total
20
180
Determine the Regression Mean Square (MSR):
Determine the Mean Square Error (MSE):
Compute the overall Fstat test statistic.
Is the Fstat significant at the 0.05 level?
A linear regression was run on auto sales relative to consumer
income. The Regression Sum of Squares (SSR) was 360 and...
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