Quantity of Automobile Lube Jobs # Q P # Cars Adv Pr 1 86 30 22.0...

Quantity of Automobile Lube Jobs # Q P # Cars Adv Pr 1 86 30 22.0 500 20 2 87 35 23.0 550 29 3 93 28 23.4 430 31 4 92 25 23.0 400 35 5 86 30 23.6 500 29 6 93 20 24.0 400 30 7 88 29 24.1 300 35 8 89 31 24.5 450 28 9 88 35 25.0 430 25 10 93 29 25.6 500 30 11 87 35 26.0 400 29 12 89 40 26.0 570 31 13 88 47 26.7 520 35 14 82 34 27.3 300 29 15 93 35 28.0 450 35 1. Run the data through Excel Regression - print output (10%)

Expert Solution

SUMMARY OUTPUT

Regression Statistics
Multiple R	0.807426944
R Square	0.65193827
Adjusted R Square	0.512713578
Standard Error	2.292032224
Observations	15

ANOVA
	df	SS	MS	F	Significance F
Regression	4	98.39921619	24.59980405	4.68263395	0.021760031
Residual	10	52.53411715	5.253411715
Total	14	150.9333333

	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%	Lower 95.0%	Upper 95.0%
Intercept	63.47704203	11.60067182	5.471841892	0.00027235	37.62913444	89.32494961	37.62913444	89.32494961
P	-0.476873378	0.144258693	-3.305682081	0.007936973	-0.798301777	-0.155444978	-0.798301777	-0.155444978
#Cars	0.648949159	0.507981673	1.277505062	0.230284986	-0.482904543	1.78080286	-0.482904543	1.78080286
Adv	0.027216626	0.00955891	2.847252186	0.017331545	0.005918048	0.048515204	0.005918048	0.048515204
Pr	0.417481016	0.165243412	2.526460883	0.030052673	0.04929575	0.785666281	0.04929575	0.785666281

By taking Q as Y(dependent variable for no of jobs) we run the regression by making others independent variables.

To run regression, go to Data> Data Analysis> Regression.

Input the X and Y variables and click OK to obtain results.

Rahul Sunny answered 1 year ago

1. In the market for coffee, quantity demanded is given by Q = 10 - P,...

1. In the market for coffee, quantity demanded is given by Q = 10 - P, and quantity supplied is given by Q = P, where Q represents tonnes of coffee per year. The government has decided to open the economy for international trade and the world price is $3. Following this action, total surplus will ____ by ____. Producer surplus will ____ by ____. Consumer surplus will ____ by ____. 2. In the market for tea, quantity demanded is...

Find the volume of the parallepiped with adjacent edges PQ, PR and PS with P(1,-2,2), Q(1,-1,3),...

Find the volume of the parallepiped with adjacent edges PQ, PR and PS with P(1,-2,2), Q(1,-1,3), R(1,1,0) and S(1,2,3).

pr.1 The Observations were made from station P to signal at station Q. The distance between...

pr.1 The Observations were made from station P to signal at station Q. The distance between Pand Qis 12.5 km and diameter of signal at station Q was 20 cm. The sun rays make an angle of 50° with line PQ. Calculate the phase correction if observations were made:on the bright portion,on the bright line.. ,A base line was measured with a steel tape of designated length 30 m at 20°C ata pull of 100 N. The measured length of...

Profit-maximizing Q (quantity) and P (price) will you get a different Q and P if you...

Profit-maximizing Q (quantity) and P (price) will you get a different Q and P if you use equations 2 and 4 vs. equations 2, 3, and 5? (1) Demand: Q = 230 – 2.5P + 4*Ps + .5*I, where Ps = 2.5, I = 20. (2) Inverse demand function [P=f(Q)], holding other factors (Ps = 2.5 and I =20) constant, is, P=100-.4*Q. (3) Production: Q = 1.2*L - .004L2 + 4*K - .002K2; (4) Long Run Total Cost: LRTC =...

1. In the market for tea, quantity demanded is given Q = 5 – P/2 and...

1. In the market for tea, quantity demanded is given Q = 5 – P/2 and quantity supplied is given by Q = P/2, where Q represents tonnes of tea per year. Suppose that the government provides a subsidy of $2 per ton of tea. After the introduction of the subsidy, the equilibrium price and quantity will be 2. Suppose that weekly demand for wool is given by P = 900 – Q, and supply is given by P =...

The equilibrium price and quantity are * A) P=620$ and Q=800 B) P=144$ and Q=512 C)...

The equilibrium price and quantity are * A) P=620$ and Q=800 B) P=144$ and Q=512 C) P=512$ and Q=144 D) P=220$ and Q=200 Which of the following is the Demand Equation * A) P=800+2Q B) P=800-2Q C) P=80-3Q D) P=80+3Q What is the self-regulation process in this case? * A) Price will increase until equilibrium B) Price will decrease until equilibrium C) Quantity will increase until equilibrium D) Quantity will decrease until equilibrium Calculate the quantity traded of carpets at...

Suppose that the relationship between price, P, and quantity, Q, is given by the equation Q...

Suppose that the relationship between price, P, and quantity, Q, is given by the equation Q = 60 - 4P. Which of the following equations correctly represents solving Q = 60 - 4P for P? P=15-1/4 QP-60-QP=60-4QP=60+QP=15-4QPlot the relationship between Pand Q on the following graph. Note: Price (P) is on the vertical axis and quantity (Q) s on the horizontal axis. The slope of this line is _______ .Suppose that the Pin this equation refers to the price of a magazine subscription, and...

The Demand for Spring-water is P = 13 - Q, where Q is quantity measured in...

The Demand for Spring-water is P = 13 - Q, where Q is quantity measured in hundreds of bottles per day and P is the price per bottle. Spring-water can be produced at a constant marginal (and average) cost of $1/ bottle. If the industry is perfectly competitive, how much will be produced and at what price in equilibrium? Explain why. Now suppose the industry becomes monopolized by one firm. What price will the monopolist charge if it must charge...

1. Given the following system equations of price (P) and quantity (Q) determination in a widget...

1. Given the following system equations of price (P) and quantity (Q) determination in a widget market: SHOW ALL WORK! Demand: Q = 100 - 4P + 2G …..(1) Supply: Q= 60 + 10P – 3N ……(2) Where the price of substitute good, G = 10, and the cost of production N = 8. 1-a) by using the repeated substitution method only, please find equilibrium P and Q. 1-b) if G is up by 2, shows the impact of...

Find the volume of the parallelepiped with adjacent edges PQ, PR, PS. P(3, 0, 2), Q(−1, 2,...

Find the volume of the parallelepiped with adjacent edges PQ, PR, PS. P(3, 0, 2), Q(−1, 2, 7), R(4, 2, −1), S(0, 5, 3) Cubic units If a = (2, −1, 5) and b = (4, 2, 1), find the following. a × b = b × a= If a = i − 5k and b = j + k, find a × b

Question