Reference no: EM131048352
Clothing retailer. Since the average purchase amount Purchase12 was such a good predictor, the manager would like you to consider another explanatory variable: the average purchase amount from the previous 12 months. Create the new variable
and add it to the final model obtained in Example 28.24 (page 28-49).
(a) What is R2 for this model? How does this value compare with R2 in Example 28.24?
(b) What is the value of the individual t statistic for this new explanatory variable? How much did the individual t statistics change from their previous values?
(c) Would you recommend this model over the model in Example 28.24? Explain.
Example 28.24:
Create the variable Purchase12sq, the square of Purchase12, to allow some curvature in the model. Previous explorations also revealed that the dollar amount spent depends on how recent the customer visited the store, so an interaction term
was created to incorporate this relationship into the model. The output for the multiple regression model using the three explanatory variables Purchase12, Purchase12sq, and IntRecency12 is shown in Figure 28.19. This model does a great job for the manager by explaining almost 94% of the variation in the purchase amounts.
Figure 28.19:
Provide the anova table for the regression model
: World record running times. Exercise 28.15 (page 28-31) shows the progress of world record times (in seconds) for the 10,000-meter run for both men and women.
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Some interaction terms and quadratic terms
: The clothing retailer problem. The scatterplot and histogram below show the residuals from the model in Example 28.20 with all explanatory variables, some interaction terms, and quadratic terms. Comment on both plots. Do you see any reason for con..
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Implement an electronic record that can easily transferred
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Model for the clothing retailer problem
: Final model for the clothing retailer problem. The residual plots below show the residuals for the final model in the clothing retailer problem plotted against Purchase12 and Recency. Do the plots suggest any potential problems with the conditions..
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Created to incorporate this relationship into the model
: Clothing retailer. Since the average purchase amount Purchase12 was such a good predictor, the manager would like you to consider another explanatory variable: the average purchase amount from the previous 12 months. Create the new variable
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Select a policy issue that poses a challenge to governance
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Use statistical software to help you analyze
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Did you identify a federal or state policy
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Individual coefficients significantly different from zero
: World record running times. Exercise 28.15 (page 28-31) shows the progress of world record times (in seconds) for the 10,000-meter run for both men and women. (a) Provide the ANOVA table for the regression model with two regression lines, one for m..
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