Question

In: Math

A large sports supplier has many stores located world wide. A regression model is to be...

A large sports supplier has many stores located world wide. A regression model is to be constructed to predict the annual revenue of a particular store based upon the population of the city or town where the store is located, the annual expenditure on promotion for the store and the distance of the store to the center of the city.

Data has been collected on 30 randomly selected stores: (AT BOTTOM)

Find the multiple regression equation using all three explanatory variables. Assume that x1 is population, x2 is annual promotional expenditure and x3 is distance to city center. Give your answers to 3 decimal places.

a) y^ = BLANK + BLANK population + BLANK promo. expenditure + BLANK dist. to city

e)The value of R2 for this model, to 3 decimal places, is equal to

f)The value of s for this model, to 3 decimal places, is equal to

g)Construct a new multiple regression model by removing the variable distance to city center. Give your answers to 3 decimal places.

The new regression model equation is:

y^ = + population + promo. expenditure

At a level of significance of 0.05, the result of the F test for this model is that the null hypothesis A) Is B) is not rejected.

c)The explanatory variable that is most correlated with annual revenue is:

population
promotional expenditure
distance to city

d)The explanatory variable that is least correlated with annual revenue is:

population
promotional expenditure
distance to city

H) In the new model compared to the previous one, the value of R2 (to 3 decimal places) is:

increased
decreased
unchanged

i)In the new model compared to the previous one, the value of s (to 3 decimal places) is:

increased
decreased
unchanged

Annual revenue ($)
(× 1000)		 Population
(× 1000)		 Annual promotional
expenditure ($)
(× 100)		 Distance to
city center (mi)
195 124 142 19
104 90 64 9
294 459 138 6
316 667 95 19
228 189 158 18
406 849 74 7
247 284 177 19
204 267 113 19
60 46 100 9
539 918 172 15
575 942 175 8
326 677 90 14
275 479 129 1
470 834 168 1
308 435 129 5
318 475 178 7
512 915 95 18
153 183 173 11
219 266 134 16
443 687 197 15
225 177 184 1
233 192 185 18
303 612 93 5
507 981 93 16
487 923 138 2
432 963 44 17
180 138 165 10
448 820 55 11
461 719 156 10
97 48 115

19

Solutions

Expert Solution

milcah answered 1 month ago
Next > < Previous

Related Solutions

A large sports supplier has many stores located world wide. A regression model is to be...
A large sports supplier has many stores located world wide. A regression model is to be constructed to predict the annual revenue of a particular store based upon the population of the city or town where the store is located, the annual expenditure on promotion for the store and the distance of the store to the center of the city. Data has been collected on 30 randomly selected stores: show data a)Find the multiple regression equation using all three explanatory...
Moondollars is a coffee franchise that has many coffee stores all over the world. MoonDollars coffee...
Moondollars is a coffee franchise that has many coffee stores all over the world. MoonDollars coffee is investigating a linear regression model to predict the annual income for a store based on the population of the city where the store is located. In the proposed regression model, annual store income is the response variable and population of the city is the explanatory variable. A random sample of 20 stores is selected and measurements are observed. Population ('000s) Annual income ('000s...
Moondollars is a coffee franchise that has many coffee stores all over the world. MoonDollars coffee...
Moondollars is a coffee franchise that has many coffee stores all over the world. MoonDollars coffee is investigating a linear regression model to predict the annual income for a store based on the population of the city where the store is located. In the proposed regression model, annual store income is the response variable and population of the city is the explanatory variable. A random sample of 20 stores is selected and measurements are observed. Population ('000s) Annual income ('000s...
A researcher wants to know how many security cameras are on average in stores located in...
A researcher wants to know how many security cameras are on average in stores located in a large shopping mall. He randomly selects a sample of 9 stores and finds that on average there are 2.7 security cameras per store with a standard deviation equal to 1.27. a. Calculate and interpret the 95% confidence interval for the average number of security cameras per store b. Test the hypothesis that the mean number of cameras per store is 4 at p...
The production of wine is a multibillion-dollar world-wide industry. In an attempt to develop a model...
The production of wine is a multibillion-dollar world-wide industry. In an attempt to develop a model of wine qual-ity as judged by wine experts, data was collected from red wine variants of Portuguese “Vinho Verde” wine. A sample of 50 wines is stored in VinhoVerde . Develop a multiple linear regression model to predict wine quality, measured on a scale from 0 (very bad) to 10 (excel-lent) based on alcohol content (%) and the amount of chlorides. State the multiple...
Web standards comprise many dependent specifications and standards that manage features of the World Wide Web...
Web standards comprise many dependent specifications and standards that manage features of the World Wide Web and the Internet. Such standards affect the development and administration of web sites and web pages. Considerations include the usability, accessibility and interoperability of web pages and web services. Discuss the web interoperability including its advantages.
Web standards comprise many dependent specifications and standards that manage features of the World Wide Web...
Web standards comprise many dependent specifications and standards that manage features of the World Wide Web and the Internet. Such standards affect the development and administration of web sites and web pages. Considerations include the usability, accessibility and interoperability of web pages and web services. Discuss the web interoperability including its advantages.
In this project, you will collect data from real world to construct a multiple regression model....
In this project, you will collect data from real world to construct a multiple regression model. The resulting model will be used for a prediction purpose. For example, suppose you are interested in “sales price of houses”. In a multiple regression model, this is called a “response variable”. There are many important factors that affect the prices of houses. Those factors include size (square feet), number of bedrooms, number of baths, age of the house, distance to a major grocery...
Should they adopt the Venetian model? OR should we look at the world as one large...
Should they adopt the Venetian model? OR should we look at the world as one large economy where each worker and each organization should compete for a piece of the pie regardless of national borders, so that consumers everywhere can enjoy products of the highest quality for the lowest price possible?
You are in charge of a IT for an large state-wide electric utility. The CEO has...
You are in charge of a IT for an large state-wide electric utility. The CEO has asked you specifically for guidance on what you consider the greatest "cyber terrorism" threats that the utility faces. Please provide the top 3-4 threats, and justification/assessment for each. You can be as specific or general as you want concerning the threats. Separately, the threats could be from state, non-state, specific technologies, security gaps, etc. I suggest you take time and utilize outside sources to...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT