Osteoporosis is a degenerative disease that primarily affects women over the age of 49. A research...

Osteoporosis is a degenerative disease that primarily affects women over the age of 49. A research analyst wants to forecast sales of StrongBones, a prescription drug for treating this debilitating disease. She uses the model Sales = β₀ + β₁Population + β₂Income + ε, where Sales refers to the sales of StrongBones (in $1,000,000s), Population is the number of women over the age of 49 (in millions), and Income is the average income of women over the age of 49 (in $1,000s). She collects data on 39 cities across the United States and obtains the following regression results:

	Coefficients	Standard Error	t Stat	p-Value
Intercept	10.11	3.66	2.76	0.0134
Population	8.12	1.63	4.98	0.0156
Income	7.05	6.07	1.16	0.3658

a. What is the sample regression equation? (Enter your answers in millions rounded to 2 decimal places.)

b-1. Interpret the coefficient of population.

b-2. Interpret the coefficient of income.

c. Predict sales if a city has 1.0 million women over the age of 49 and their average income is $35,000. (Enter your answer in millions rounded to 2 decimal places.)

Expert Solution

Please like & support

orchestra answered 1 year ago

Divide the data into three groups according to age: under 25, 26 to 49, and over...

Divide the data into three groups according to age: under 25, 26 to 49, and over 50. Use ANOVA to test the claim that all three of these groups have the same mean balance on their Visa card. Be sure to write down the mean and standard deviation for each group! Age <25 26-49 over 50 n = n = n = x = x...

A university conducted a study of whether running is healthy for men and women over age...

A university conducted a study of whether running is healthy for men and women over age 50. During the first eight years of the study, 1.9% of the 457 members of a fitness association died. We are interested in the proportion of people over 50 who ran and died in the same eight-year period. NOTE: If you are using a Student's t-distribution, you may assume that the underlying population is normally distributed. (In general, you must first prove that assumption,...

A recent study indicated that 22% of the 161 women over age 55 in the study...

A recent study indicated that 22% of the 161 women over age 55 in the study were widows. Round up your answers to the next whole number for the following questions. How large a sample must you take to be 95% confident that the estimate is within 0.04 of the true proportion of women over age 55 who are widows?

A random sample of 124 women over the age of 15 found that 3.68% of them...

A random sample of 124 women over the age of 15 found that 3.68% of them have been divorced. A random sample of 290 men over the age of 15 found that 5.86% have been divorced. Assuming normality and using a 95% significance level, test the claim that the proportion of divorced women is different than the proportion of divorced men. For this scenario, provide a hypothesis test with all six steps and provide both the critical value and the...

In United States, emergency contraception is available overt he counter to all women over age 18....

In United States, emergency contraception is available overt he counter to all women over age 18. What are the pros and cons of this decision?

Question