Deck 12: Simple Linear Regression

Question 1

SCENARIO 12-2
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: $\begin{array}{llr}\text { City }&\text { Price(\$)}&\text { Sales }\\\text { River Falls } & 1.30 & 100 \\\text { Hudson } & 1.60 & 90 \\\text { Ellsworth } & 1.80 & 90 \\\text { Prescott } & 2.00 & 40 \\\text { Rock Elm } & 2.40 & 38 \\\text { Stillwater } & 2.90 & 32\end{array}$

-Referring to Scenario 12-2, what is the estimated mean change in the sales of the candy bar if price goes up by $1.00?

A)161.386
B)0.784
C)- 3.810
D)- 48.193

Answer 1

- 48.193

Question 2

SCENARIO 12-1
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: $$Y _ { i } = \beta _ { 0 } + \beta _ { 1 } X _ { i } + \varepsilon _ { i }$$
Theresultsofthesimplelinearregressionareprovidedbelow.
$$\bar { I } = - 2,700 + 20 X , S _ { Z X } = 65 \text {, two-tail } p \text { value } = 0.034 \text { (for testing } \beta _ { 1 } \text { ) }$$

-Referring to Scenario 12-1, interpret the p-value for testing whether $\beta$ 1 exceeds 0.

A)There is sufficient evidence (at the $\alpha$ = 0.05)to conclude that sales revenue (X)is a useful linear predictor of service charge (Y).
B)There is insufficient evidence (at the $\alpha$ = 0.10)to conclude that sales revenue (X)is a useful linear predictor of service charge (Y).
C)Sales revenue (X)is a poor predictor of service charge (Y).
D)For every $1 million increase in sales revenue, you expect a service charge to increase $0.034.

Answer 2

There is sufficient evidence (at the $\alpha$ = 0.05)to conclude that sales revenue (X)is a useful linear predictor of service charge (Y).

Question 3

SCENARIO 12-2
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: $\begin{array}{llr}\text { City }&\text { Price(\$)}&\text { Sales }\\\text { River Falls } & 1.30 & 100 \\\text { Hudson } & 1.60 & 90 \\\text { Ellsworth } & 1.80 & 90 \\\text { Prescott } & 2.00 & 40 \\\text { Rock Elm } & 2.40 & 38 \\\text { Stillwater } & 2.90 & 32\end{array}$

-Referring to Scenario 12-2, what is the percentage of the total variation in candy bar sales explained by the regression model?

A)100%
B)88.54%
C)78.39%
D)48.19%

Answer 3

78.39%

Question 4

14.Referring to Scenario 12-2, what is the standard error of the regression slope estimate, S ?
$$b$$ 1
a) 0.784 b) 0.885 c) 12.650 d) 16.299
ANSWER:
c
TYPE: MC DIFFICULTY: Moderate
KEYWORDS: standard error, slope

-Referring to Scenario 12-2, if the price of the candy bar is set at $2, the estimated mean sales will be

A)30
B)65
C)90
D)100

Question 5

14.Referring to Scenario 12-2, what is the standard error of the regression slope estimate, S ?
$$b$$ 1
a) 0.784 b) 0.885 c) 12.650 d) 16.299
ANSWER:
c
TYPE: MC DIFFICULTY: Moderate
KEYWORDS: standard error, slope

-Referring to Scenario 12-2, if the price of the candy bar is set at $2, the predicted sales will be

A)30
B)65
C)90
D)100

Question 6

The least squares method minimizes which of the following?

A)SSR
B)SSE
C)SST
D)All of the above

Question 7

SCENARIO 12-1
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: $$Y _ { i } = \beta _ { 0 } + \beta _ { 1 } X _ { i } + \varepsilon _ { i }$$
Theresultsofthesimplelinearregressionareprovidedbelow.
$$\bar { I } = - 2,700 + 20 X , S _ { Z X } = 65 \text {, two-tail } p \text { value } = 0.034 \text { (for testing } \beta _ { 1 } \text { ) }$$

-Referring to Scenario 12-1, a 95% confidence interval for $\beta$ 1 is (15, 30).Interpret the interval.

A)You are 95% confident that the mean service charge will fall between $15 and $30 per month.
B)You are 95% confident that the sales revenue (X)will increase between $15 and $30 million for every $1 increase in service charge (Y).
C)You are 95% confident that mean service charge (Y)will increase between $15 and $30 for every $1 million increase in sales revenue (X).
D)At the $\alpha$ = 0.05 level, there is no evidence of a linear relationship between service charge (Y)and sales revenue (X).

Question 8

14.Referring to Scenario 12-2, what is the standard error of the regression slope estimate, S ?
$$b$$ 1
a) 0.784 b) 0.885 c) 12.650 d) 16.299
ANSWER:
c
TYPE: MC DIFFICULTY: Moderate
KEYWORDS: standard error, slope

-Referring to Scenario 12-2, to test whether a change in price will have any impact on sales, what would be the critical values? Use $\alpha$ = 0.05.

A) $\pm$ 2.5706
B) $\pm$ 2.7765
C) $\pm$ 3.1634
D) $\pm$ 3.4954

Question 9

The slope (b1) represents

A)predicted value of Y when X = 0.
B)the estimated average change in Y per unit change in X.
C)the predicted value of Y.
D)variation around the line of regression.

Question 10

The residual represents the discrepancy between the observed dependent variable and itsvalue.

Question 11

The Y-intercept (b0) represents the

A)predicted value of Y when X = 0.
B)change in estimated Y per unit change in X.
C)predicted value of Y.
D)variation around the sample regression line.

Question 12

14.Referring to Scenario 12-2, what is the standard error of the regression slope estimate, S ?
$$b$$ 1
a) 0.784 b) 0.885 c) 12.650 d) 16.299
ANSWER:
c
TYPE: MC DIFFICULTY: Moderate
KEYWORDS: standard error, slope

-Referring to Scenario 12-2, to test that the regression coefficient, $\beta$ 1, is not equal to 0, what would be the critical values? Use $\alpha$ = 0.05.

A) $\pm$ 2.5706
B) $\pm$ 2.7764
C) $\pm$ 3.1634
D) $\pm$ 3.4954

Question 13

The Chancellor of a university has commissioned a team to collect data on students' GPAs and the amount of time they spend bar hopping every week (measured in minutes).He wants to know if imposing much tougher regulations on all campus bars to make it more difficult for students to spend time in any campus bar will have a significant impact on general students' GPAs.His team should use a t test on the slope of the population regression.

Question 14

SCENARIO 12-1
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: $$Y _ { i } = \beta _ { 0 } + \beta _ { 1 } X _ { i } + \varepsilon _ { i }$$
Theresultsofthesimplelinearregressionareprovidedbelow.
$$\bar { I } = - 2,700 + 20 X , S _ { Z X } = 65 \text {, two-tail } p \text { value } = 0.034 \text { (for testing } \beta _ { 1 } \text { ) }$$

-Referring to Scenario 12-1, interpret the estimate of $\sigma$ , the standard deviation of the random error term (standard error of the estimate) in the model.

A)About 95% of the observed service charges fall within $65 of the least squares line.
B)About 95% of the observed service charges equal their corresponding predicted values.
C)About 95% of the observed service charges fall within $130 of the least squares line.
D)For every $1 million increase in sales revenue, we expect a service charge to increase $65.

Question 15

14.Referring to Scenario 12-2, what is the standard error of the regression slope estimate, S ?
$$b$$ 1
a) 0.784 b) 0.885 c) 12.650 d) 16.299
ANSWER:
c
TYPE: MC DIFFICULTY: Moderate
KEYWORDS: standard error, slope

-Referring to Scenario 12-2, what is $$\star ( X - \bar { X } ) ^ { 2 }$$ for these data?

A)0
B)1.66
C)2.54
D)25.66

Question 16

SCENARIO 12-2
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: $\begin{array}{llr}\text { City }&\text { Price(\$)}&\text { Sales }\\\text { River Falls } & 1.30 & 100 \\\text { Hudson } & 1.60 & 90 \\\text { Ellsworth } & 1.80 & 90 \\\text { Prescott } & 2.00 & 40 \\\text { Rock Elm } & 2.40 & 38 \\\text { Stillwater } & 2.90 & 32\end{array}$

-Referring to Scenario 12-2, what percentage of the total variation in candy bar sales is explained by prices?

A)100%
B)88.54%
C)78.39%
D)48.19%

Question 17

SCENARIO 12-2
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: $\begin{array}{llr}\text { City }&\text { Price(\$)}&\text { Sales }\\\text { River Falls } & 1.30 & 100 \\\text { Hudson } & 1.60 & 90 \\\text { Ellsworth } & 1.80 & 90 \\\text { Prescott } & 2.00 & 40 \\\text { Rock Elm } & 2.40 & 38 \\\text { Stillwater } & 2.90 & 32\end{array}$

-Referring to Scenario 12-2, what is the coefficient of correlation for these data?

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

Question 18

SCENARIO 12-1
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: $$Y _ { i } = \beta _ { 0 } + \beta _ { 1 } X _ { i } + \varepsilon _ { i }$$
Theresultsofthesimplelinearregressionareprovidedbelow.
$$\bar { I } = - 2,700 + 20 X , S _ { Z X } = 65 \text {, two-tail } p \text { value } = 0.034 \text { (for testing } \beta _ { 1 } \text { ) }$$

-Referring to Scenario 12-1, interpret the estimate of $\beta$ 0 , the Y-intercept of the line.

A)All companies will be charged at least $2,700 by the bank.
B)There is no practical interpretation since a sales revenue of $0 is a nonsensical value.
C)About 95% of the observed service charges fall within $2,700 of the least squares line.
D)For every $1 million increase in sales revenue, we expect a service charge to decrease $2,700.

Question 19

SCENARIO 12-2
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: $\begin{array}{llr}\text { City }&\text { Price(\$)}&\text { Sales }\\\text { River Falls } & 1.30 & 100 \\\text { Hudson } & 1.60 & 90 \\\text { Ellsworth } & 1.80 & 90 \\\text { Prescott } & 2.00 & 40 \\\text { Rock Elm } & 2.40 & 38 \\\text { Stillwater } & 2.90 & 32\end{array}$

-Referring to Scenario 12-2, what is the estimated slope for the candy bar price and sales data?

A)161.386
B)0.784
C)- 3.810
D)- 48.193

Question 20

SCENARIO 12-2
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: $\begin{array}{llr}\text { City }&\text { Price(\$)}&\text { Sales }\\\text { River Falls } & 1.30 & 100 \\\text { Hudson } & 1.60 & 90 \\\text { Ellsworth } & 1.80 & 90 \\\text { Prescott } & 2.00 & 40 \\\text { Rock Elm } & 2.40 & 38 \\\text { Stillwater } & 2.90 & 32\end{array}$

-Referring to Scenario 12-2, what is the standard error of the estimate, SYX, for the data?

A)0.784
B)0.885
C)12.650
D)16.299

Question 21

SCENARIO 12-3
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 Scenario 12-3, the standard error of estimate is .

Question 22

SCENARIO 12-3
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 Scenario 12-3, the error or residual sum of squares (SSE) is .

Question 23

SCENARIO 12-3
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 Scenario 12-3, suppose the director of cooperative education wants to construct a95% prediction interval for the number of job offers received by a student who has had exactly two cooperative education jobs.The prediction interval is from to _.

Question 24

SCENARIO 12-3
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 Scenario 12-3, suppose the director of cooperative education wants to construct a95% confidence interval estimate for the mean number of job offers received by students who have had exactly one cooperative education job.The confidence interval is from to_.

Question 25

SCENARIO 12-3
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 Scenario 12-3, the least squares estimate of the slope is _.

Question 26

SCENARIO 12-3
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 Scenario 12-3, suppose the director of cooperative education wants to construct a95% prediction interval estimate for the number of job offers received by students who have had exactly one cooperative education job.The prediction interval is from to .

Question 27

SCENARIO 12-3
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 Scenario 12-3, the director of cooperative education wanted to test the hypothesis that the population slope was equal to 3.0.The value of the test statistic is .

Question 28

SCENARIO 12-3
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 Scenario 12-3, the prediction for the number of job offers for a person with 2 coop jobs is _.

Question 29

SCENARIO 12-3
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 Scenario 12-3, the least squares estimate of the Y-intercept is _.

Question 30

SCENARIO 12-3
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 Scenario 12-3, suppose the director of cooperative education wants to construct a95% confidence-interval estimate for the mean number of job offers received by students who have had exactly one cooperative education job.The t critical value she would use is _.

Question 31

SCENARIO 12-3
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 Scenario 12-3, set up a scatter plot.

Question 32

SCENARIO 12-3
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. $\begin{array} {ccc}\text { Student } & \text { Coop Jobs } & \text {Job Offer }\\ 1 & 1 & 4 \\ 2 & 2 & 6 \\ 3 & 1 & 3 \\ 4 & 0 & 1 \end{array}$

-Referring to Scenario 12-3, suppose the director of cooperative education wants to construct two 95% confidence interval estimates.One is for the mean number of job offers received by students who have had exactly one cooperative education job and one for students who have had two.The confidence interval for students who have had one cooperative education job would be the wider of the two intervals.

Question 33

SCENARIO 12-3
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 Scenario 12-3, suppose the director of cooperative education wants to construct a95% prediction interval for the number of job offers received by a student who has had exactly two cooperative education jobs.The t critical value she would use is _.

Question 34

SCENARIO 12-3
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. $\begin{array} {ccc}\text { Student } & \text { Coop Jobs } & \text {Job Offer }\\ 1 & 1 & 4 \\ 2 & 2 & 6 \\ 3 & 1 & 3 \\ 4 & 0 & 1 \end{array}$

-Referring to Scenario 12-3, suppose the director of cooperative education wants to construct both a 95% confidence interval estimate and a 95% prediction interval for X = 2.The confidence interval estimate would be the wider of the two intervals.

Question 35

SCENARIO 12-3
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 Scenario 12-3, the director of cooperative education wanted to test the hypothesis that the population slope was equal to 0.The value of the test statistic is _.

Question 36

SCENARIO 12-3
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 Scenario 12-3, the coefficient of correlation is .

Question 37

SCENARIO 12-3
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 Scenario 12-3, the director of cooperative education wanted to test the hypothesisthat the population slope was equal to 0.The denominator of the test statistic is s 1.The value ofs in this sample is _. 1

Question 38

SCENARIO 12-3
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 Scenario 12-3, the regression sum of squares (SSR) is .

Question 39

SCENARIO 12-3
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 Scenario 12-3, the coefficient of determination is .

Question 40

SCENARIO 12-3
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 Scenario 12-3, the total sum of squares (SST) is .

Question 41

SCENARIO 12-3
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 Scenario 12-3, the director of cooperative education wanted to test the hypothesis that the population slope was equal to 0.The p-value of the test is between and_.

Question 42

SCENARIO 12-4
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 Scenario 12-4, the regression sum of squares (SSR) is .

Question 43

SCENARIO 12-4
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 Scenario 12-4, the total sum of squares (SST) is .

Question 44

SCENARIO 12-4
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 Scenario 12-4, the prediction for the amount of sales (in $1,000s) for a person who brings 25 new clients into the firm is .

Question 45

SCENARIO 12-4
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 Scenario 12-4, the least squares estimate of the slope is _.

Question 46

SCENARIO 12-4
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 Scenario 12-4, suppose the managers of the brokerage firm want to construct a 99%confidence interval estimate for the mean sales made by brokers who have brought into the firm24 new clients.The t critical value they would use is _.

Question 47

SCENARIO 12-4
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 Scenario 12-4, suppose the managers of the brokerage firm want to construct n a99% prediction interval for the sales made by a broker who has brought into the firm 18 new clients.The t critical value they would use is .

Question 48

SCENARIO 12-4
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 Scenario 12-4, the least squares estimate of the Y-intercept is _.

Question 49

SCENARIO 12-4
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 Scenario 12-4, 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 _.

Question 50

SCENARIO 12-4
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 Scenario 12-4, % of the total variation in sales generated can be explained by the number of new clients brought in.

Question 51

SCENARIO 12-3
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 Scenario 12-3, the director of cooperative education wanted to test the hypothesis that the population slope was equal to 3.0.For a test with a level of significance of 0.05, the null hypothesis should be rejected if the value of the test statistic is .

Question 52

SCENARIO 12-4
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 Scenario 12-4, the coefficient of determination is .

Question 53

SCENARIO 12-4
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 Scenario 12-4, the standard error of estimate is .

Question 54

SCENARIO 12-4
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 Scenario 12-4, the error or residual sum of squares (SSE) is .

Question 55

SCENARIO 12-4
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 Scenario 12-4, the coefficient of correlation is .

Question 56

SCENARIO 12-4
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 Scenario 12-4, suppose the managers of the brokerage firm want to construct both a99% confidence interval estimate and a 99% prediction interval for X = 24.The confidence interval estimate would be the (wider or narrower) of the two intervals.

Question 57

SCENARIO 12-4
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 Scenario 12-4, the standard error of the estimated slope coefficient is _.

Question 58

SCENARIO 12-3
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 Scenario 12-3, the director of cooperative education wanted to test the hypothesis that the population slope was equal to 3.0.The p-value of the test is between and_.

Question 59

SCENARIO 12-3
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 Scenario 12-3, the director of cooperative education wanted to test the hypothesis that the population slope was equal to 0.For a test with a level of significance of 0.05, the null hypothesis should be rejected if the value of the test statistic is .

Question 60

SCENARIO 12-4
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 Scenario 12-4, suppose the managers of the brokerage firm want to construct a 99%confidence interval estimate for the mean sales made by brokers who have brought into the firm24 new clients.The confidence interval is from to .

Question 61

SCENARIO 12-5
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 with the following results:
Referring to Scenario 12-5, the correlation coefficient is _.

Question 62

SCENARIO 12-4
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 Scenario 12-4, the managers of the brokerage firm wanted to test the hypothesis thatthe population slope was equal to 0.The denominator of the test statistic is s 1.The value of s1 in this sample is _.

Question 63

SCENARIO 12-5
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 with the following results:
Referring to Scenario 12-5, the standard error of the estimate is _.

Question 64

SCENARIO 12-4
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 Scenario 12-4, the managers of the brokerage firm wanted to test the hypothesis that the population slope was equal to 0.For a test with a level of significance of 0.01, the null hypothesis should be rejected if the value of the test statistic is .

Question 65

SCENARIO 12-4
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 Scenario 12-4, 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 p-value of the test is .

Question 66

SCENARIO 12-4
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 Scenario 12-4, 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.At a level of significance of 0.01, the decision that should be made implies that the number of newclients brought ingenerated.(had or did not have) a positive impact on the amount of sales

Question 67

SCENARIO 12-4
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 Scenario 12-4, 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.At a level of significance of 0.01, the null hypothesis should be (rejected or not rejected).

Question 68

SCENARIO 12-4
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 Scenario 12-4, the managers of the brokerage firm wanted to test the hypothesis that the population slope was equal to 0.The p-value of the test is _.

Question 69

SCENARIO 12-5
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 with the following results:
Referring to Scenario 12-5, the estimates of the Y-intercept and slope are and_, respectively.

Question 70

SCENARIO 12-4
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 Scenario 12-4, the managers of the brokerage firm wanted to test the hypothesis that the number of new clients brought in did not affect the amount of sales generated.The value of the test statistic is .

Question 71

SCENARIO 12-5
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 with the following results:
Referring to Scenario 12-5, the value of the quantity that the least squares regression line minimizes is _.

Question 72

SCENARIO 12-4
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 Scenario 12-4, the managers of the brokerage firm wanted to test the hypothesis that the population slope was equal to 0.At a level of significance of 0.01, the decision that should bemade implies that(there is a or there is no) linear dependent relationship between theindependent and dependent variables.

Question 73

SCENARIO 12-4
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 Scenario 12-4, 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 _.

Question 74

SCENARIO 12-4
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 Scenario 12-4, 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.Fora test with a level of significance of 0.01, the null hypothesis should be rejected if the value of the test statistic is _.

Question 75

SCENARIO 12-4
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 Scenario 12-4, the managers of the brokerage firm wanted to test the hypothesis that the population slope was equal to 0.The value of the test statistic is _.

Question 76

SCENARIO 12-4
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 Scenario 12-4, the managers of the brokerage firm wanted to test the hypothesis that the population slope was equal to 0.At a level of significance of 0.01, the null hypothesis should be (rejected or not rejected).

Question 77

SCENARIO 12-5
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 with the following results:
Referring to Scenario 12-5, the standard error of the estimated slope coefficient is _.

Question 78

SCENARIO 12-5
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 with the following results:
Referring to Scenario 12-5, the prediction for a quarter in which X = 120 is Y = _.

Question 79

SCENARIO 12-5
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 with the following results:
Referring to Scenario 12-5, the coefficient of determination is _.

Question 80

SCENARIO 12-5
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 with the following results:
Referring to Scenario 12-5, the partner wants to test for autocorrelation using the Durbin-Watson statistic.Using a level of significance of 0.05, the critical values of the test are dL = , and dU = _.