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Often, when dealing with dependent variables that represent financial data (income, price, etc.), using the natural log of the dependent variable will help to alleviate problems that may be causing patterns in residuals/violations of the required conditions. Re-run the Multiple Regression analysis using the natural log of the page cost variable instead. Re-run the Regression using this new variable as the dependent variable against all 3 independent variables, again creating residual plot for this model.
Evaluate the regression assumptions of linearity and homoscedasticity by assessing your new residual plot. Be specific about your evaluation and describe any suggestions you have for remedying any problems. [Hint: for suggestions you may read question 4 below.]
you are testing whether there is a significant difference in the proportions of college students and similar aged non college students having accidents during the two year period. What is the value of your pooled proportion?
For a given confidence interval, what is the interpretation of a 96% confidence level?
Should mean disposable income be used to predict sales based on the sample of 14 Sunflower stores? Are there any other factors not mentioned by the leasing agents that might be relevant to the store leasing decision?
In a sample of 20 men, the mean height was 178 cm. In a sample of 30 women, the mean height was 164 cm. What was the mean height for both groups put together?
A store asked 250 of its customers whether they were satisfied with the service or not. The responses were also classified according to the gender of the customers. We want to study whether there is a relationship between satisfaction and gender.
In both cases, give a number of data points, n, and a correlation coefficient, r. Draw a number of data points, n, and a correlation coefficient, r. Tell whether the correlation is significant at 0.05 or 0.01 level, explain.
Is there evidence to suggest that the process average differs from the target value?
Using a spreadsheet, create a table that shows the relationship among the units of heights of people in centimeters, inches and feet in the range of 150cm to 2m. Use increments of 5cm.
Use the least-squares method to compute the regression of coefficients b0 and b1.
Find the expected value or average profit per customer and determine how much profit they should expect if 10 people purchase one of their European vacation packages.
With a selling price of 40 dollars each, how many pool cues must be sold to break even? What would the total revenue be at this break even point?
How much time should be allowed if we wish to ensure that at least 9 out of 10 students (on average) can complete it? (round to the nearest minute).
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