Interpretations of the regression model

Reference no: EM131008165

Wine prices, part 2.

Here are some more interpretations of the regression model to predict the price of wine devel- oped in Exercise 24. One of these interpretations is correct. Which is it? Explain what is wrong with the others.

a) The minimum price for a bottle of wine that has not aged is $6.25.

b) The price for a bottle of wine increases on average about $.55 for each year it ages, after allowing for the ef- fects of tasting score.

c) Each year a bottle of wine ages, its tasting score in- creases by 1.22.

d) Each dollar increase in the price of wine increases its tasting score by 1.22.

Reference no: EM131008165

Questions Cloud

Does adding the ?ve-digit postal zip code to an address : Does adding the ?ve-digit postal zip code to an address really speed up delivery of letters? Does adding the four more digits that make up "zip + 4".

Price of beef related to other factors : 1. Price of beef. How is the price of beef related to other factors? The data in the following table give information on the price of beef (PBE) and the possible explanatory variables: consumption of beef per capita (CBE), retail food price index (..

Does the herb saint-john-wort relieve major depression : Saint-John's-wort and depression. Does the herb Saint-John's-wort relieve major depression? Here are some excerpts from the report of a study of this issue.24 The study concluded that the herb is no more effective than a placebo. "Design: Randomiz..

Compute and plot the response of given system : Compute and plot the response of the following system using integration: 10x(t) + 20x(t) + 1500x(t) = 20 sin25t + 10 sin 15t + 20 sin2t

Interpretations of the regression model : Here are some more interpretations of the regression model to predict the price of wine devel- oped in Exercise 24. One of these interpretations is correct. Which is it? Explain what is wrong with the others.

Is effective for combating fatigue depression and cancer : EClick "Sample" three more times to choose the third, fourth, and ?fth groups. Don't take the time to write down these groups. Check that there are only 25 students remaining in the population hopper. These subjects get Treatment 6. Which students..

Multiple regression model for the variables : Ticket prices, part 2. Here's a multiple regression model for the variables considered in Exercise 12:7 Dependent variable is: Receipts($M)

Write the regression model : 1. Police salaries, part 4. Consider the coefficient of Police a) Write the regression model. b) What does the coefficient of Police Officer Wage mean in the context of this regression model?

Prepare a single journal entry that summarizes the recording : For each of the five independent situations below, prepare a single journal entry that summarizes the recording and payment of income taxes in order to determine the amount of cash paid for income taxes and explain the change (if any) in each of the ..

User Account

All Pages