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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.
Testing of Hypothesis One objective of sampling theory is Hypothesis Testing. Hypothesis testing begins by making an assumption about the population parameter. Then we gather
what are the importance, uses,optimums and applications of the following in agriculture field experiments; 1.standard deviation 2.standard error 3. coefficient of variation
Binomial Distribution Binomial distribution was discovered by swiss mathematician James Bernonulli, so this distribution is called as Bernoulli distribution also, this is a d
For the following questions we are interested in a comparison of the 16 years education vs. > 16 years. (Recall we did the analysis on the log scale, so these are actual means on t
The Harmonic Mean is based on the reciprocals of numbers averaged. It is defined as the reciprocal of the arithmetic mean of the reciprocal of the given individual observations. Th
what are characteristics of a population for which it would be appropiate to use mean/median/mode
what does it mean by moving average?
Examining the Population Variance Business decision making does not limit itself to setting up the hypothesis to test for the equality of more than two means or proportions sim
There are two diagnostic tests for a disease. Among those who have the disease, 10% give negative results on the first test, and independently of this, 5% give negative results on
Stratified Random Sampling: This method of sampling is used when the population is comprised of natural subdivision of units, The method consist in classifying the population u
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