Exam 18: A Roadmap for Analyzing Data

A manager of a product sales group believes the number of sales made by an employee depends On how many years that employee has been with the company and how he/she scored on a Business aptitude test.A random sample of 38 employees was selected to collect data on their Number of sales, number of years with the company and scores on a business aptitude test. Which of the following would you perform to draw conclusion on the belief?

SCENARIO 18-1 A real estate builder wishes to determine how house size (House)is influenced by family income (Income), family size (Size), and education of the head of household (School).House size is measured in hundreds of square feet, income is measured in thousands of dollars, and education is in years.The builder randomly selected 50 families and ran the multiple regression.Microsoft Excel output is provided below: -Referring to Scenario 18-1, suppose the builder wants to test whether the coefficient on Income Is significantly different from 0.What is the value of the relevant t-statistic?

The probability that a particular brand of smoke alarm will malfunction in the presence of smoke Is 0.002.A batch of 100,000 such alarms was produced by independent production lines.Which Of the following distributions would you use to figure out the probability that at most 5,000 of Them will malfunction in case of a fire?

SCENARIO 18-2 -Referring to Scenario 18-2, what are the degrees of freedom of the partial F test for

The owner of a local nightclub has recently surveyed a random sample of n = 250 customers of The club.She would now like to determine whether or not the mean age of her customers is more Than 30.If so, she plans to alter the entertainment to appeal to an older crowd.If not, no Entertainment changes will be made.Which of the following tests will you perform to help her Make a decision?

SCENARIO 18-1 A real estate builder wishes to determine how house size (House)is influenced by family income (Income), family size (Size), and education of the head of household (School).House size is measured in hundreds of square feet, income is measured in thousands of dollars, and education is in years.The builder randomly selected 50 families and ran the multiple regression.Microsoft Excel output is provided below: -Referring to Scenario 18-1, what minimum annual income would an individual with a family size Of 9 and 10 years of education need to attain a predicted 5,000 square foot home (House = 50)?

SCENARIO 18-1 A real estate builder wishes to determine how house size (House)is influenced by family income (Income), family size (Size), and education of the head of household (School).House size is measured in hundreds of square feet, income is measured in thousands of dollars, and education is in years.The builder randomly selected 50 families and ran the multiple regression.Microsoft Excel output is provided below: -Referring to Scenario 18-1, which of the independent variables in the model are significant at the 5% level?

SCENARIO 18-9 What are the factors that determine the acceleration time (in sec.)from 0 to 60 miles per hour of a car? Data on the following variables for 171 different vehicle models were collected: Accel Time: Acceleration time in sec. Cargo Vol: Cargo volume in cu.ft. HP: Horsepower MPG: Miles per gallon SUV: 1 if the vehicle model is an SUV with Coupe as the base when SUV and Sedan are both 0 Sedan: 1 if the vehicle model is a sedan with Coupe as the base when SUV and Sedan are both 0 The regression results using acceleration time as the dependent variable and the remaining variables as the independent variables are presented below. The various residual plots are as shown below. A Roadmap for Analyzing Data 18-63 18-64 A Roadmap for Analyzing Data -Referring to Scenario 18-9, what is the correct interpretation for the estimated coefficient for SUV?

SCENARIO 18-1 A real estate builder wishes to determine how house size (House)is influenced by family income (Income), family size (Size), and education of the head of household (School).House size is measured in hundreds of square feet, income is measured in thousands of dollars, and education is in years.The builder randomly selected 50 families and ran the multiple regression.Microsoft Excel output is provided below: -Referring to Scenario 18-1, what is the value of the calculated F test statistic that is missing from The output for testing whether the whole regression model is significant?

SCENARIO 18-1 A real estate builder wishes to determine how house size (House)is influenced by family income (Income), family size (Size), and education of the head of household (School).House size is measured in hundreds of square feet, income is measured in thousands of dollars, and education is in years.The builder randomly selected 50 families and ran the multiple regression.Microsoft Excel output is provided below: -Referring to Scenario 18-1, what are the residual degrees of freedom that are missing from the Output?

An airline wants to select a computer software package for its reservation system.Four software Packages (1, 2, 3, and 4)are commercially available.An experiment is set up in which each Package is used to make reservations for 5 randomly selected weeks and data on the number of Passengers that are bumped over a month are collected.(A total of 20 weeks was included in the Experiment.)The variability of the number of passengers that are bumped is found to be roughly The same for the 4 packages.The distribution on the number of passengers that are bumped has Been found out to be right-skewed for package 1 and 4, left-skewed for package 2 and normal for Package 3.Which of the following tests will be the most appropriate to find out if the mean Number of passengers being bumped over a month is the same across the 4 packages?

A Paso Robles wine producer wanted to forecast the cases of Merlot wine sold.The number of Cases of merlot wine sold in a 28-year period was collected.Which of the following would be The most appropriate analysis to perform?

SCENARIO 18-1 A real estate builder wishes to determine how house size (House)is influenced by family income (Income), family size (Size), and education of the head of household (School).House size is measured in hundreds of square feet, income is measured in thousands of dollars, and education is in years.The builder randomly selected 50 families and ran the multiple regression.Microsoft Excel output is provided below: -Referring to Scenario 18-1, what is the predicted house size (in hundreds of square feet)for an Individual earning an annual income of $40,000, having a family size of 4, and going to school a Total of 13 years?

SCENARIO 18-1 A real estate builder wishes to determine how house size (House)is influenced by family income (Income), family size (Size), and education of the head of household (School).House size is measured in hundreds of square feet, income is measured in thousands of dollars, and education is in years.The builder randomly selected 50 families and ran the multiple regression.Microsoft Excel output is provided below: -Referring to Scenario 18-1, at the 0.01 level of significance, what conclusion should the builder Reach regarding the inclusion of Income in the regression model?

SCENARIO 18-6 -Referring to Scenario 18-6, in terms of the s in the model, give the mean change in weight- Loss (Y)for every 1 month increase in time in the program When attending the evening Session.

Data were collected on the amount of detergent used in gallons in a month by 25 drive-through car wash operations in Phoenix.You can use a time-series plot to pressing this information.

SCENARIO 18-1 A real estate builder wishes to determine how house size (House)is influenced by family income (Income), family size (Size), and education of the head of household (School).House size is measured in hundreds of square feet, income is measured in thousands of dollars, and education is in years.The builder randomly selected 50 families and ran the multiple regression.Microsoft Excel output is provided below: -Referring to Scenario 18-1, which of the following values for the level of significance is the Smallest for which the regression model as a whole is significant?

A debate team of 4 members for a high school will be chosen randomly from a potential group Of 15 students.Ten of the 15 students have no prior competition experience while the others Have some degree of experience.Which of the following distributions would you use to Determine the probability that none of the members chosen for the team have any competition Experience?

A professor of economics at a small Texas university wanted to determine what year in school students were taking his tough economics course.Data were collected on the class status ("freshman", "sophomore", "junior" or "senior")of 50 students enrolled in one of his economics course.A side-by-side bar chart can be used to present this information.