Question

Suppose you run a regression containing observations for each of the 74 kinds of cars releasted in 1978 in the United States, and you regress price (in dollars) on weight (in pounds). You get the following results: βˆ 0 is -6.71, with SE 1174.4. βˆ 1 (slope coefficient on weight) is 2.04 with SE .377.

• (4 points) Say, in words, what the slope coefficient means in this case, without taking a stand on causality.

• (5 points) Suppose I give you the following information: the sum of squares total is roughly equal to 635 million, and the sum of squares explained is equal to 185 million. Please report the R2 and the correlation coefficient between price and weight. • (5 points) Use your regression model to predict what the price would be for a car that weighs 3000 pounds.

• (4 points) Use the SER to add uncertainty and make this prediction an interval.

• (5 points) Build a 95% confidence interval for the slope coefficient and report the p-value for comparing it to 0. Interpret your results.

Answer #1

The attach image solution in details given below.

Suppose you run a regression containing observations for each of
the 74 kinds of cars releasted in 1978 in the United States, and
you regress price (in dollars) on weight (in pounds). You get the
following results: βˆ 0 is -6.71, with SE 1174.4. βˆ 1 (slope
coefficient on weight) is 2.04 with SE .377.
Use the SER to add uncertainty and make this prediction an
interval.

1. Consider the model Ci= β0+β1 Yi+ ui. Suppose you run this
regression using OLS and get the following results: b0=-3.13437;
SE(b0)=0.959254; b1=1.46693; SE(b1)=21.0213; R-squared=0.130357;
and SER=8.769363. Note that b0 and b1 the OLS estimate of b0 and
b1, respectively. The total number of observations is
2950.According to these results the relationship between C and Y
is:
A. no relationship
B. impossible to tell
C. positive
D. negative
2. Consider the model Ci= β0+β1 Yi+ ui. Suppose you run this...

A random sample of nine custom homes currently listed for sale
provided the following information on size and price. Here, x
denotes size, in hundreds of square feet, rounded to the nearest
hundred, and y denotes price, in thousands of dollars, rounded to
the nearest thousand.
The summaries of the data are given by
n=9, ∑xi=270, ∑x2i=8316, ∑yi=5552, ∑y2i=3504412,
∑xiyi=169993
Given the summaries of the data, find the least-squares
regression equation.
Graph the regression equation and the data points.
Interpret...

Here are 21 observations from a dataset of liver disease deaths
per 100,000 people (liver) and the liters of wine consumed per
capita (wine). To gather the data the researcher
calculated wine per capita by calculating total wine consumed in a
country and dividing by the population; they used official records
to determine the number of people with liver disease and again
divided by total population. For this question you are
welcome to use Excel, but you still need show the formula...

Data Set Preparation
(Using A JMP Folder) Can email you if comment your email.
1. (10 pts.) Using the “Toyota Corolla” data set on Canvas (Home
à “JMP” à “(Under: JMP Data Sets folder)”, you will be modeling the
“Price” of a car as the dependent variable (Y). Please select one
independent variable (X) you think may help explain Price, from the
following three: “Age”, “Mileage”, or “Weight” of a car. In the
space below, state your choice and explain...

Each box of Healthy Crunch breakfast cereal contains a coupon
entitling you to a free package of garden seeds. At the Healthy
Crunch home office, they use the weight of incoming mail to
determine how many of their employees are to be assigned to
collecting coupons and mailing out seed packages on a given day.
(Healthy Crunch has a policy of answering all its mail on the day
it is received.) Let x = weight of incoming mail and
y...

7.
(07.02 MC)
Oscar, a yoga instructor at Yoga for You, is interested in
comparing levels of physical fitness of students attending a nearby
high school and those attending a local community college. He
selects a random sample of 210 students from the high school. The
mean and standard deviation of their fitness scores are 82 and 14,
respectively. He also selects a random sample of 210 students from
the local community college. The mean and standard deviation of
their...

6.
(07.04 MC)
Students at a local elementary school were randomly selected to
participate in a reading fluency program. The program is designed
to increase their reading fluency. A total of 17 students each took
a pretest before the program and posttest after the program. The
mean differences in the posttest and pretest is 11. The
administration decided that all students in the school would
participate in the program next school year. Let µA denote the mean
score of the...

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 9 minutes ago

asked 16 minutes ago

asked 20 minutes ago

asked 24 minutes ago

asked 31 minutes ago

asked 45 minutes ago

asked 52 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago