Is given regression statistically significant

Assignment Help Basic Statistics

Reference no: EM131381472

In given problem, the coefficient of determination was found to be r² = 0.09. What can you say about this regression, as far as its power to predict customer satisfaction with sunglasses using information on a customer's materialism score?

Problem
An interesting marketing research effort has recently been reported, which incorporates within the variables that predict consumer satisfaction from a product not only attributes of the product itself but also characteristics of the consumer who buys the product. In particular, a regression model was developed, and found successful, regressing consumer satisfaction S on a consumer's materialism M measured on a psychologically devised scale.

For satisfaction with the purchase of sunglasses, the estimate of beta, the slope of S with respect to M,was b = 2.20. The reported t statistic was 2.53. The sample size was n = 54.7 Is this regression statistically significant? Explain the findings.

Reference no: EM131381472

Questions Cloud

Test an appropriate hypothesis and state your conclusion : One insurance company found that the driver was a teenage girl in 44 of the 388 fatal accidents they investigated. Is this strong evidence that the accident rate is lower for girls than for teens in general?

Research of the iphone 6 plus : This course project assignment is focused on total economic output. This week you will be asked to continue your research of the iPhone 6 plus.

Explain in this context what the p-value means : The researchers claimed that the data prove that genetic differences between the two populations cause a difference in the frequency of occurrence of perfect pitch. Do you agree? Why or why not?

Country of economica the total labor force : In the country of Economica, the total labor force consists of 15,000 workers. 750 of these workers are unemployed, and thus the current unemployment rate is 5.0%.

Is given regression statistically significant : For satisfaction with the purchase of sunglasses, the estimate of beta, the slope of S with respect to M,was b = 2.20. The reported t statistic was 2.53. The sample size was n = 54.7 Is this regression statistically significant? Explain the findin..

Calculate national income via the income approach : Calculate National Income via the income approach. Does this match with your answer to question (b) (ii)? Explain why your answers to questions c) and b (ii) should match each other.

How did scotts lack of leadership skills affect his team : What are some of the things that Amundsen planned for that Scott overlooked?How did Scott's lack of leadership skills affect his team?In your organization what events or projects could have been planned better? What do you think the outcome would h..

Sketch a model of the total weights of a dozen eggs : Eggs. The ISA Babcock Company supplies poultry farmers with hens, advertising that a mature B300 Layer produces eggs with a mean weight of 60.7 grams. Suppose that egg weights follow a Normal model with standard deviation 3.1 grams.

Do you believe these regression results are worth reporting : Would you use the regression model to predict a firm's pension funding?- Does the model explain much of the variation in firms' pension funding on the basis of profitability?

User Account

All Pages