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Agency revenues. An economic consultant was retained by a large employment agency in a metropolitan area to develop a regression model for predicting monthly agency revenues ( y ). She decided that three economic indicators for the area were potentially useful as independent variables, namely, average weekly overtime hours of production workers in manufacturing ( 1 x ), number of job vacancies in manufacturing ( 2 x ), and index of help wanted advertising in newspapers ( 3 x ). Monthly observations on agency revenues and the three independent variables were obtained for the past 25 months. The ANOVA table for the model is as follows:
The consultant decided to screen the independent variables to determine the best set for predicting agency revenues. The regression sums of squares for all possible regression models were found to be as follows:
(a) Determine the subset of variables that is selected as best by the forward selection procedure using F0* = 4.2 (to-add-variable). Show your steps. (b) Determine the subset of variables that is selected as best by the backward elimination procedure using F0** = 4.1 (to-delete-variable). Show your steps.
NOTE: ( t0** ) 2 = F0** (c) Determine the subset of variables that is selected as best by the stepwise regression procedure using F0* = 4.2 (to-add) and F0** = 4.1 (to-delete). Show your steps.
how to find mse from ssr table not the anova table
A monopolist firm''s demand curve is given by P:100-2q. (a) Find its marginal revenue function.
what are characteristics of a population for which it would be appropiate to use mean/median/mode
Statistical Keys To do statistical operations we must first set the calculator on SD mode [SD stands for "standard deviation" which is the usual st
Advantages By definition, mode is the most typical or representative value of a distribution. Hence, when we talk of modal wage, modal size of shoe or modal size of family i
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The file Midterm Data.xls has a tab labeled "Income Data 2009". This data is collected income data from a sample of 400 people in 2009. Use a hypothesis test to see whether the av
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Origin and Development of probability Theory: The credit for origin and development of probability goes to the European gamblers of 17 th century. They used to gamble on gam
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