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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.
The total number of overtime hours (in 1000s) worked in a large steel mill was recorded for 16 quarters, as shown below. Year Quarter Overtime hour
The Quality Manager of a battery manufacturing plant reviewed the warranty records within his department and found that 4% of the low maintenance batteries produced at the plant ov
Estimate the standard deviation of the process: Draw the X (bar) and R charts for the data given and give your comments about the process under study. Estimate the standard de
Assume that the pulley at A is a small frictionless pulley. The cord AB is only allowed to support a maximum tension in Newtons as given in P4, and the cord supporting the block ca
CALCULATE THE PERCENTAGE OF REFUNDS EXPECTED TO EXCEED $1000 UNDER THE CURRENT WITHHOLDING GUIDELINES
how do i determine the 40th percentile in an ogive graph
The incidence of occupational disease in an industry is such that the workers have a 20% chance of suffering from it. What is the probability that out of six workers 4 or more will
Analytical Approach We will illustrate this through an example. Example 1 A firm sells a product in a market with a few competitors. The average price charged by the
Quota sampling Under this method enumerators shall select the respondents in place of those not available, as per the quota fixed according to guide lines provided to them.
Median Median is a position average. It is the value of middle item of a variable when the items are arranged according to their values either in ascending or descending order.
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