Deck 13: Simple Linear Regression

Question 1

TABLE 13-2
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:

Referring to Table 13-2, what is the standard error of the estimate, S_YX, for the data?

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

Answer 1

16.299

Question 2

The Y-intercept (b₀) represents the

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

Answer 2

predicted value of Y when X = 0.

Question 3

TABLE 13-1
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 charge 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:
E(Y) = β₀ + β₁X
The results of the simple linear regression are provided below.
Y = -2,700 + 20X, S_YX = 65, two-tail p value of 0.034 (for testing β₁)
Referring to Table 13-1, interpret the estimate of β₀, 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.

Answer 3

There is no practical interpretation since a sales revenue of $0 is a nonsensical value.

Question 4

TABLE 13-2
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:

Referring to Table 13-2, what is for these data?

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

Question 5

The Y-intercept (b₀) represents the

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

Question 6

TABLE 13-1
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 charge 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:
E(Y) = β₀ + β₁X
The results of the simple linear regression are provided below.
Y = -2,700 + 20X, S_YX = 65, two-tail p value of 0.034 (for testing β₁)
Referring to Table 13-1, interpret the estimate of σ, 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 7

TABLE 13-2
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:

Referring to Table 13-2, what is the estimated average 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

Question 8

TABLE 13-2
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:

Referring to Table 13-2, 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 9

TABLE 13-2
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:

Referring to Table 13-2, 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 10

TABLE 13-1
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 charge 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:
E(Y) = β₀ + β₁X
The results of the simple linear regression are provided below.
Y = -2,700 + 20X, S_YX = 65, two-tail p value of 0.034 (for testing β₁)
Referring to Table 13-1, interpret the p-value for testing whether β₁ exceeds 0.

A) There is sufficient evidence (at the α = 0.05) to conclude that sales revenue (X) is a useful linear predictor of service charge (Y).
B) There is insufficient evidence (at the α = 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, we expect a service charge to increase $0.034.

Question 11

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 12

TABLE 13-2
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:

Referring to Table 13-2, to test that the regression coefficient, β₁, is not equal to 0, what would be the critical values? Use α = 0.05.

A) ± 2.5706
B) ± 2.7765
C) ± 3.1634
D) ± 3.4954

Question 13

TABLE 13-2
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:

Referring to Table 13-2, what is the standard error of the regression slope estimate, S_b1?

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

Question 14

TABLE 13-2
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:

Referring to Table 13-2, what is the estimated slope parameter for the candy bar price and sales data?

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

Question 15

TABLE 13-2
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:

Referring to Table 13-2, what is the coefficient of correlation for these data?

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

Question 16

TABLE 13-2
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:

Referring to Table 13-2, 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%

Question 17

The least squares method minimizes which of the following?

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

Question 18

TABLE 13-1
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 charge 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:
E(Y) = β₀ + β₁X
The results of the simple linear regression are provided below.
Y = -2,700 + 20X, S_YX = 65, two-tail p value of 0.034 (for testing β₁)
Referring to Table 13-1, a 95% confidence interval for β₁ is (15, 30). Interpret the interval.

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

Question 19

TABLE 13-2
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:

Referring to Table 13-2, if the price of the candy bar is set at $2, the estimated average sales will be

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

Question 20

TABLE 13-2
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:

Referring to Table 13-2, to test whether a change in price will have any impact on average sales, what would be the critical values? Use α = 0.05.

A) ± 2.5706
B) ± 2.7765
C) ± 3.1634
D) ± 3.4954

Question 21

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 22

TABLE 13-3
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 Table 13-3, the director of cooperative education wanted to test the hypothesis that the true slope was equal to 0. The denominator of the test statistic is s_b1. The value of s_b1 in this sample is ________.

Question 23

TABLE 13-3
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 Table 13-3, suppose the director of cooperative education wants to construct a 95% 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 24

TABLE 13-3
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 Table 13-3, suppose the director of cooperative education wants to construct a 95% 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 25

TABLE 13-3
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 Table 13-3, the standard error of estimate is ________.

Question 26

TABLE 13-3
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 Table 13-3, suppose the director of cooperative education wants to construct a 95% 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 27

TABLE 13-3
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 Table 13-3, suppose the director of cooperative education wants to obtain 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 28

TABLE 13-3
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 Table 13-3, set up a scatter diagram.

Question 29

TABLE 13-3
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 Table 13-3, the coefficient of correlation is ________.

Question 30

TABLE 13-3
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 Table 13-3, the coefficient of determination is ________.

Question 31

TABLE 13-3
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 Table 13-3, suppose the director of cooperative education wants to construct a 95% 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 32

TABLE 13-3
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 Table 13-3, the total sum of squares (SST) is ________.

Question 33

TABLE 13-3
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 Table 13-3, the prediction for the number of job offers for a person with 2 coop jobs is ________.

Question 34

TABLE 13-3
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 Table 13-3, the error or residual sum of squares (SSE) is ________.

Question 35

TABLE 13-3
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 Table 13-3, the least squares estimate of the slope is ________.

Question 36

TABLE 13-3
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 Table 13-3, suppose the director of cooperative education wants to construct a 95% 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 37

The residual represents the discrepancy between the observed dependent variable and its ________ value.

Question 38

TABLE 13-3
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 Table 13-3, 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 people 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 39

TABLE 13-3
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 Table 13-3, the regression sum of squares (SSR) is ________.

Question 40

TABLE 13-3
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 Table 13-3, the least squares estimate of the Y-intercept is ________.

Question 41

TABLE 13-4
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 Table 13-4, ________% of the total variation in sales generated can be explained by the number of new clients brought in.

Question 42

TABLE 13-4
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 Table 13-4, the coefficient of determination is ________.

Question 43

TABLE 13-3
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 Table 13-3, the director of cooperative education wanted to test the hypothesis that the true slope was equal to 3.0. The p-value of the test is between ________.

Question 44

TABLE 13-4
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 Table 13-4, the total sum of squares (SST) is ________.

Question 45

TABLE 13-3
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 Table 13-3, the director of cooperative education wanted to test the hypothesis that the true slope was equal to 0. The value of the test statistic is ________.

Question 46

TABLE 13-4
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 Table 13-4, the least squares estimate of the Y-intercept is ________.

Question 47

TABLE 13-4
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 Table 13-4, set up a scatter diagram.

Question 48

TABLE 13-3
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 Table 13-3, the director of cooperative education wanted to test the hypothesis that the true 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 49

TABLE 13-3
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 Table 13-3, the director of cooperative education wanted to test the hypothesis that the true 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 50

TABLE 13-4
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 Table 13-4, the coefficient of correlation is ________.

Question 51

TABLE 13-4
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 Table 13-4, the prediction for the amount of sales (in $1,000s) for a person who brings 25 new clients into the firm is ________.

Question 52

TABLE 13-4
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 Table 13-4, the standard error of the estimated slope coefficient is ________.

Question 53

TABLE 13-4
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 Table 13-4, suppose the managers of the brokerage firm want to obtain a 99% confidence interval estimate for the mean sales made by brokers who have brought into the firm 24 new clients. The t critical value they would use is ________.

Question 54

TABLE 13-4
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 Table 13-4, the error or residual sum of squares (SSE) is ________.

Question 55

TABLE 13-4
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 Table 13-4, the regression sum of squares (SSR) is ________.

Question 56

TABLE 13-3
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 Table 13-3, the director of cooperative education wanted to test the hypothesis that the true slope was equal to 0. The p-value of the test is between ________.

Question 57

TABLE 13-4
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 Table 13-4, the least squares estimate of the slope is ________.

Question 58

TABLE 13-4
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 Table 13-4, the standard error of estimate is ________.

Question 59

TABLE 13-3
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 Table 13-3, the director of cooperative education wanted to test the hypothesis that the true slope was equal to 3.0. The value of the test statistic is ________.

Question 60

TABLE 13-4
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 Table 13-4, suppose the managers of the brokerage firm want to obtain a 99% confidence interval estimate for the mean sales made by brokers who have brought into the firm 24 new clients. The confidence interval is from ________ to ________.

Question 61

TABLE 13-4
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 Table 13-4, 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 new clients brought in ________ (had or did not have) a positive impact on the amount of sales generated.

Question 62

TABLE 13-4
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 Table 13-4, 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. 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 63

TABLE 13-5
The managing partner of an advertising agency believes that his company's sales are related to the industry sales. He uses Microsoft Excel's Data Analysis tool to analyze the last 4 years of quarterly data with the following results:
Regression Statistics
ANOVA

Referring to Table 13-5, the value of the quantity that the least squares regression line minimizes is ________.

Question 64

TABLE 13-5
The managing partner of an advertising agency believes that his company's sales are related to the industry sales. He uses Microsoft Excel's Data Analysis tool to analyze the last 4 years of quarterly data with the following results:
Regression Statistics
ANOVA

Referring to Table 13-5, the coefficient of determination is ________.

Question 65

TABLE 13-5
The managing partner of an advertising agency believes that his company's sales are related to the industry sales. He uses Microsoft Excel's Data Analysis tool to analyze the last 4 years of quarterly data with the following results:
Regression Statistics
ANOVA

Referring to Table 13-5, the prediction for a quarter in which X = 120 is Y = ________.

Question 66

TABLE 13-4
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 Table 13-4, the managers of the brokerage firm wanted to test the hypothesis that the true slope was equal to 0. At a level of significance of 0.01, the decision that should be made implies that ________ (there is or there is no) linear dependent relation between the independent and dependent variables.

Question 67

TABLE 13-4
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 Table 13-4, 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 ________ (accepted or rejected).

Question 68

TABLE 13-4
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 Table 13-4, 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 69

TABLE 13-4
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 Table 13-4, suppose the managers of the brokerage firm want to obtain both a 99% 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 70

TABLE 13-4
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 Table 13-4, suppose the managers of the brokerage firm want to obtain 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 71

TABLE 13-4
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 Table 13-4, the managers of the brokerage firm wanted to test the hypothesis that the true slope was equal to 0. The p-value of the test is ________.

Question 72

TABLE 13-4
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 Table 13-4, suppose the managers of the brokerage firm want to obtain a 99% 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 73

TABLE 13-4
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 Table 13-4, the managers of the brokerage firm wanted to test the hypothesis that the true 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 74

TABLE 13-5
The managing partner of an advertising agency believes that his company's sales are related to the industry sales. He uses Microsoft Excel's Data Analysis tool to analyze the last 4 years of quarterly data with the following results:
Regression Statistics
ANOVA

Referring to Table 13-5, the standard error of the estimate is ________.

Question 75

TABLE 13-4
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 Table 13-4, 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 76

TABLE 13-5
The managing partner of an advertising agency believes that his company's sales are related to the industry sales. He uses Microsoft Excel's Data Analysis tool to analyze the last 4 years of quarterly data with the following results:
Regression Statistics
ANOVA

Referring to Table 13-5, the estimates of the Y-intercept and slope are ________ and ________, respectively.

Question 77

TABLE 13-4
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 Table 13-4, the managers of the brokerage firm wanted to test the hypothesis that the true slope was equal to 0. The value of the test statistic is ________.

Question 78

TABLE 13-4
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 Table 13-4, 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 79

TABLE 13-4
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 Table 13-4, the managers of the brokerage firm wanted to test the hypothesis that the true slope was equal to 0. At a level of significance of 0.01, the null hypothesis should be ________ (accepted or rejected).

Question 80

TABLE 13-4
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 Table 13-4, the managers of the brokerage firm wanted to test the hypothesis that the true slope was equal to 0. The denominator of the test statistic is s_b1. The value of s_b1in this sample is ________.