) Interpret the value of the slope (rounded to two decimal places) in the regression equation...
) Interpret the value of the slope (rounded to two decimal places) in the regression equation found in part 1c in the context of the question, using a complete sentence.
1f) State and interpret the value of the coefficient of determination (R-sq expressed as a percentage) found in part 1c in the context of the question in a complete sentence.
1g) Use the regression equation (with both intercept and slope rounded to two decimal places) to predict the final selling price of a home with 4000 square feet of taxable living area. Show all of your hand calculations and remember to include units in your final answer.
1h) Is your prediction in part 1g) an example of extrapolation? Why or why not?
Simple linear regression results:
Dependent Variable: Price
Independent Variable: TLArea
Price = 216732.08 + 186.82253 TLArea
Sample size: 85
R (correlation coefficient) = 0.89152906
R-sq = 0.79482407
Estimate of error standard deviation: 66073.304
Homework Answers
Add Answer to:
) Interpret the value of the slope (rounded to two decimal
places) in the regression equation...
Which team statistic is the best variable to use to predict a team's winning percentage? One...
Which team statistic is the best variable to use to predict a team's winning percentage? One pitching, one fielding, and one hitting statistic was measured for each major league baseball team at the end of the 2019 season. The dataset is called "2019 MLB Team Statistics. The three explanatory variables as follows. Earned Run Average (ERA): a pitching statistic Fielding %: a fielding statistic Home Runs: a hitting statistic Wis Loss Win Loss 054 Eamed Run Arome 0978 09892098409609 Fielding...
Step 1 of 6: Find the estimated slope. Round your answer to three decimal places Step...
Step 1 of 6: Find the estimated slope. Round your answer to
three decimal places
Step 2 of 6: Find the estimated y-intercept. Round your answer
to three decimal places.
Step 3 of 6: Determine if the statement "Not all points predicted
by the linear model fall on the same line" is true or false.
Step 4 of 6: Substitute the values you found in steps 1 and 2 into
the equation for the regression line to find the estimated...
2.) The data set named "HW 6.2" contains a random sample of 35 movies released in 2008 collected from the Internet Movie Database (IMDb). The goal of this problem is to explore if the informa...
2.) The data set named "HW 6.2" contains a random sample of 35 movies released in 2008 collected from the Internet Movie Database (IMDb). The goal of this problem is to explore if the information available soon after a movie's theatrical release can successfully predict total revenue. All dollar amounts (i.e., variables "Budget", "Opening", and "USRevenue") are measured in millions of dollars. . Investigate the relationship between the explanatory variable "Budget" and response variable "USRevenue" by doing the following: a....
(d) Construct the t-statistic for the slope coefficient. Is this t-statistic significant at the 10% level?...
(d) Construct the t-statistic
for the slope coefficient. Is this t-statistic significant at the
10% level? Clearly show your work including the critical value
which you are using.
(e) Construct the t-statistic for the intercept coefficient. Is
this t-statistic significant at the 1% level? Clearly show your
work including the critical value which you are using.
(f) Does least squares assumption 1 plausibly hold for this
regression? Explain in detail why or why not.
(g) Are the errors in this...
Step 1 of 6: Find the estimated Slope. Round your answer to three decimal places. Step...
Step 1 of 6: Find the estimated Slope. Round your answer to
three decimal places.
Step 2 of 6: Find the estimated y-intercept. Round your answer
to three decimals places.
Step 3 of 6: According to the estimated linear model, if the
value of the independent variable is increased by one unit, then
the change in the dependent variable y^ is given by?
Step 4 of 6: Determine if the statement "Not all points
predicted by the linear model fall...
Problem 4: Variables that may affect Grades The data set contains a random sample of STAT 250 Final Exam Scores out of 80 points. For each individual sampled, the time (in hours per week) that the stu...
Problem 4: Variables that may affect Grades The data set contains a random sample of STAT 250 Final Exam Scores out of 80 points. For each individual sampled, the time (in hours per week) that the student spent participating in a GMU club or sport and working for pay outside of GMU was recorded. Values of 0 indicate the students either does not participate in a club or sport or does not work a job for pay. The goal of...
A recent analysis of data for the 50 U.S. States on crime found the regression equation...
A recent analysis of data for the 50 U.S. States on crime found the regression equation y=209.9+27.2xy=209.9+27.2x, where xx is the poverty rate and yy is the violent crime rate (measured as number of violent crimes per 100,000 people in the state). Interpret the slope of this line. Interpret the y-intercept of this line. Does this make sense in context of the problem? The state poverty rates ranged from 8.3 (Hawaii) to 27.2 (Mississippi). Over this range, find the range...
Step 2 of 6: Find the estimated y-intercept. Round your answer to three decimal places. Step...
Step 2 of 6:
Find the estimated y-intercept. Round your answer to three
decimal places.
Step 3 of 6:
Find the estimated value of y when x=156x=156. Round your answer
to three decimal places.
Step 4 of 6:
Determine if the statement "Not all points predicted by the
linear model fall on the same line" is true or false.
Step 6 of 6:
Find the value of the coefficient of determination. Round your
answer to three decimal places.
The table...
7) Compute the least-squares regression equation for the given data set. Use a TI- 84 calculator....
7) Compute the least-squares regression equation for the given data set. Use a TI- 84 calculator. Round the slope and y -intercept to at least four decimal places. x 44 38 16 20 25 38 19 y 73 68 24 30 43 66 33 Send data to Excel Regression line equation: = y 8) Price of eggs and milk: The following table presents the average price in dollars for a dozen eggs and a gallon of milk for each month...
Which team statistic is the best variable to use to predict a team's winning percentage? One pitching, one fielding, and one hitting statistic was measured for each major league baseball team at the end of the 2019 season. The dataset is called "2019 MLB Team Statistics. The three explanatory variables as follows. Earned Run Average (ERA): a pitching statistic Fielding %: a fielding statistic Home Runs: a hitting statistic Wis Loss Win Loss 054 Eamed Run Arome 0978 09892098409609 Fielding...
Step 1 of 6: Find the estimated slope. Round your answer to
three decimal places
Step 2 of 6: Find the estimated y-intercept. Round your answer
to three decimal places.
Step 3 of 6: Determine if the statement "Not all points predicted
by the linear model fall on the same line" is true or false.
Step 4 of 6: Substitute the values you found in steps 1 and 2 into
the equation for the regression line to find the estimated...
2.) The data set named "HW 6.2" contains a random sample of 35 movies released in 2008 collected from the Internet Movie Database (IMDb). The goal of this problem is to explore if the information available soon after a movie's theatrical release can successfully predict total revenue. All dollar amounts (i.e., variables "Budget", "Opening", and "USRevenue") are measured in millions of dollars. . Investigate the relationship between the explanatory variable "Budget" and response variable "USRevenue" by doing the following: a....
(d) Construct the t-statistic
for the slope coefficient. Is this t-statistic significant at the
10% level? Clearly show your work including the critical value
which you are using.
(e) Construct the t-statistic for the intercept coefficient. Is
this t-statistic significant at the 1% level? Clearly show your
work including the critical value which you are using.
(f) Does least squares assumption 1 plausibly hold for this
regression? Explain in detail why or why not.
(g) Are the errors in this...
Step 1 of 6: Find the estimated Slope. Round your answer to
three decimal places.
Step 2 of 6: Find the estimated y-intercept. Round your answer
to three decimals places.
Step 3 of 6: According to the estimated linear model, if the
value of the independent variable is increased by one unit, then
the change in the dependent variable y^ is given by?
Step 4 of 6: Determine if the statement "Not all points
predicted by the linear model fall...
Step 2 of 6:
Find the estimated y-intercept. Round your answer to three
decimal places.
Step 3 of 6:
Find the estimated value of y when x=156x=156. Round your answer
to three decimal places.
Step 4 of 6:
Determine if the statement "Not all points predicted by the
linear model fall on the same line" is true or false.
Step 6 of 6:
Find the value of the coefficient of determination. Round your
answer to three decimal places.
The table...
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