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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.
A. Do the correlation matrix table. B. Which variable (s) has the largest correlation coeffieient which is not a perfect correlation? C. Which variable (s) has the s
Definition of Correlation According to prof, king correlation means that between two series or group of data there exists some casual connection prof, king has also exp
Prediction Inte rval We would like to construct a prediction interval around which would contain the actual Y. If n ≥ 30, ± Zs e would be the interval, where Z
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The proportion of American Express credit-card holders who pay their credit card bill in full each month is 23%; the other 77% make only a partial or no payment. (a) In a random
These techniques are applied when the rows and the columns of the data table represent the same units and when the measure is a disiance or a similarity. The goal of the analysis i
If the test is two-tailed, H1: μ ≠ μ 0 then the test is called two-tailed test and in such a case the critical region lies in both the right and left tails of the sampling distr
You are interested in testing the distance of two golf balls, Brand A and Brand B. You take a random sample of 100 golfers, each of whom hits Brand A once and Brand B once. Define
merits and demerits of methods to determin trends
Applications of Standard Error Standard Error is used to test whether the difference between the sample statistic and the population parameter is significant or is d
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