20 Business Statistics Questions

Please see attached file to view the tables.

1. The Y-intercept (b0) represents the
A) variation around the sample regression line.
B) predicted value of Y when X = 0.
C) predicted value of Y.
D) change in estimated average Y per unit change in X.

Don't use plagiarized sources. Get Your Custom Essay on
20 Business Statistics Questions
From $10/Page
Order Essay

2. The slope (b1) represents the
A) predicted value of Y when X = 0.
B) estimated average change in Y per unit change in X.
C) variation around the line of regression.
D) predicted value of Y.

3. The least squares method minimizes which of the following?
A) SST
B) SSE
C) SSR
D) all of the above

4. The standard error of the estimate is a measure of the
A) explained variation.
B) variation of the X variable.
C) total variation of the Y variable.
D) variation around the sample regression line.

5.
TABLE 13-1

A large national bank charges local companies for using their services. A bank official reported the results of a regression analysis designed to predict the bank’s charges (Y)-measured in dollars per month-for services rendered to local companies. One independent variable used to predict the service charge to a company is the company’s sales revenue (X)-measured in millions of dollars. Data for 21 companies who use the bank’s services were used to fit the model:

E(Y) = b0 + b1X

The results of the simple linear regression are provided below.

Y= -2,700 + 20X, SYX = 65, two-tailed p value = 0.034 (for testing b1)

Referring to Table 13-1, interpret the estimate of b0, the Y-intercept of the line.
A) There is no practical interpretation since a sales revenue of $0 is a nonsensical value.
B) All companies will be charged at least $2,700 by the bank.
C) About 95% of the observed service charges fall within $2,700 of the least squares line.
D) For every $1 million increase in sales revenue, we expect a service charge to decrease $2,700.

6.
TABLE 13-1

A large national bank charges local companies for using their services. A bank official reported the results of a regression analysis designed to predict the bank’s charges (Y)-measured in dollars per month-for services rendered to local companies. One independent variable used to predict the service charge to a company is the company’s sales revenue (X)-measured in millions of dollars. Data for 21 companies who use the bank’s services were used to fit the model:

E(Y) = b0 + b1X

The results of the simple linear regression are provided below.

Y = -2,700 + 20X, SYX = 65, two-tailed p value = 0.034 (for testing b1)

Referring to Table 13-1, interpret the estimate of the standard deviation of the random error term (standard error of the estimate) in the model.
A) About 95% of the observed service charges equal their corresponding predicted values.
B) About 95% of the observed service charges fall within $65 of the least squares line.
C) For every $1 million increase in sales revenue, we expect a service charge to increase $65.
D) About 95% of the observed service charges fall within $130 of the least squares line.

7.
TABLE 13-1

A large national bank charges local companies for using their services. A bank official reported the results of a regression analysis designed to predict the bank’s charges (Y)-measured in dollars per month-for services rendered to local companies. One independent variable used to predict the service charge to a company is the company’s sales revenue (X)-measured in millions of dollars. Data for 21 companies who use the bank’s services were used to fit the model:

E(Y) = b0 + b1X

The results of the simple linear regression are provided below.

Y = -2,700 + 20X, SYX = 65, two-tailed p value = 0.034 (for testing b1)

Referring to Table 13-1, interpret the p value for testing whether b1 exceeds 0.
A) For every $1 million increase in sales revenue, we expect a service charge to increase $0.034.
B) Sales revenue (X) is a poor predictor of service charge (Y).
C) There is sufficient evidence (at the alpha = 0.05) to conclude that sales revenue (X) is a useful linear predictor of service charge (Y).
D) There is insufficient evidence (at the alpha = 0.10) to conclude that sales revenue (X) is a useful linear predictor of service charge (Y).

8.
TABLE 13-1

A large national bank charges local companies for using their services. A bank official reported the results of a regression analysis designed to predict the bank’s charges (Y)-measured in dollars per month-for services rendered to local companies. One independent variable used to predict the service charge to a company is the company’s sales revenue (X)-measured in millions of dollars. Data for 21 companies who use the bank’s services were used to fit the model:

E(Y) = b0 + b1X

The results of the simple linear regression are provided below.

Y= -2,700 + 20X, SYX = 65, two-tailed p value = 0.034 (for testing b1)

Referring to Table 13-1, a 95% confidence interval for b1 is (15, 30). Interpret the interval.
A) We are 95% confident that the sales revenue (X) will increase between $15 and $30 million for every $1 increase in service charge (Y).
B) At the alpha = 0.05 level, there is no evidence of a linear relationship between service charge (Y) and sales revenue (X).
C) We are 95% confident that the mean service charge will fall between $15 and $30 per month.
D) We are 95% confident that average service charge (Y) will increase between $15 and $30 for every $1 million increase in sales revenue (X).

9.
TABLE 13-3

The director of cooperative education at a state college wants to examine the effect of cooperative education job experience on marketability in the work place. She takes a random sample of 4 students. For these 4, she finds out how many times each had a cooperative education job and how many job offers they received upon graduation. These data are presented in the table below.

Referring to Table 13-3, the least squares estimate of the slope is ________.

10.
TABLE 13-3

The director of cooperative education at a state college wants to examine the effect of cooperative education job experience on marketability in the work place. She takes a random sample of 4 students. For these 4, she finds out how many times each had a cooperative education job and how many job offers they received upon graduation. These data are presented in the table below.

Referring to Table 13-3, the least squares estimate of the Y-intercept is ________.

11.
TABLE 13-3

The director of cooperative education at a state college wants to examine the effect of cooperative education job experience on marketability in the work place. She takes a random sample of 4 students. For these 4, she finds out how many times each had a cooperative education job and how many job offers they received upon graduation. These data are presented in the table below.

Referring to Table 13-3, the prediction for the number of job offers for a person with 2 co-op jobs is ________.

12.
TABLE 13-3

The director of cooperative education at a state college wants to examine the effect of cooperative education job experience on marketability in the work place. She takes a random sample of 4 students. For these 4, she finds out how many times each had a cooperative education job and how many job offers they received upon graduation. These data are presented in the table below.

Referring to Table 13-3, the total sum of squares (SST) is ________.

13.
TABLE 13-3

The director of cooperative education at a state college wants to examine the effect of cooperative education job experience on marketability in the work place. She takes a random sample of 4 students. For these 4, she finds out how many times each had a cooperative education job and how many job offers they received upon graduation. These data are presented in the table below.

Referring to Table 13-3, the regression sum of squares (SSR) is ________.

14.
TABLE 13-3

The director of cooperative education at a state college wants to examine the effect of cooperative education job experience on marketability in the work place. She takes a random sample of 4 students. For these 4, she finds out how many times each had a cooperative education job and how many job offers they received upon graduation. These data are presented in the table below.

Referring to Table 13-3, the error or residual sum of squares (SSE) is ________.

15.
TABLE 13-3

The director of cooperative education at a state college wants to examine the effect of cooperative education job experience on marketability in the work place. She takes a random sample of 4 students. For these 4, she finds out how many times each had a cooperative education job and how many job offers they received upon graduation. These data are presented in the table below.

Referring to Table 13-3, the coefficient of determination is ________.

16.
TABLE 13-3

The director of cooperative education at a state college wants to examine the effect of cooperative education job experience on marketability in the work place. She takes a random sample of 4 students. For these 4, she finds out how many times each had a cooperative education job and how many job offers they received upon graduation. These data are presented in the table below.

Referring to Table 13-3, the standard error of estimate is ________.

17.
TABLE 13-3

The director of cooperative education at a state college wants to examine the effect of cooperative education job experience on marketability in the work place. She takes a random sample of 4 students. For these 4, she finds out how many times each had a cooperative education job and how many job offers they received upon graduation. These data are presented in the table below.

Referring to Table 13-3, the coefficient of correlation is ________.

18.
TABLE 13-3

The director of cooperative education at a state college wants to examine the effect of cooperative education job experience on marketability in the work place. She takes a random sample of 4 students. For these 4, she finds out how many times each had a cooperative education job and how many job offers they received upon graduation. These data are presented in the table below.

Referring to Table 13-3, suppose the director of cooperative education wants to obtain a 95% confidence-interval estimate for the mean number of job offers received by people who have had exactly one cooperative education job. The t critical value she would use is ________.

19.
TABLE 13-3

The director of cooperative education at a state college wants to examine the effect of cooperative education job experience on marketability in the work place. She takes a random sample of 4 students. For these 4, she finds out how many times each had a cooperative education job and how many job offers they received upon graduation. These data are presented in the table below.

Referring to Table 13-3, suppose the director of cooperative education wants to obtain a 95% confidence interval estimate for the mean number of job offers received by people who have had exactly one cooperative education job. The confidence interval is from ________ to ________.

20.
TABLE 13-3

The director of cooperative education at a state college wants to examine the effect of cooperative education job experience on marketability in the work place. She takes a random sample of 4 students. For these 4, she finds out how many times each had a cooperative education job and how many job offers they received upon graduation. These data are presented in the table below.

Referring to Table 13-3, suppose the director of cooperative education wants to obtain a 95% prediction interval estimate for the mean number of job offers received by people who have had exactly one cooperative education job. The prediction interval is from ________ to ________.

Solution Summary
This solution is comprised of detailed step-by-step calculations and analysis of the given problems related to Statistics and provides students with a clear perspective of the underlying concepts.

To continue with the answer check on mycoursewriter.com/

My Course Writer
Order NOW For A 35% Discount!
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Homework Writing

Do you need to ace your test? We have qualified writers to assist you in writing 100% quality homework writing. Mycoursewriter offers students unique and personalized custom papers that help them in getting good grades. Our academic experts will assist you with your dissertation papers, thesis writing, research papers, term papers, and case study homework help. Our writers are experienced and have perfected the art of crafting the best essay writing papers regardless of your academic level. Order now and get our superb homework writing services.

Expert Academic Writers

A student needs professional assistance outside class time. Before hiring our writers, they undergo thorough tests and strict educational backgrounds. After passing a test, our writers undergo training to ensure they deliver expert professional papers to our customers. We ensure they meet the timely delivery of papers and follow our customers' provided instructions. Every writer is an ENL writer and is from the USA, Canada, UK, or Australia. Our experts approach papers effectively depending on their area of specialization.

Affordable Price Guarantees

Is the deal too good to be true? Mycoursewriter is the most affordable assignment help website on the market. We consider students' daily needs for academic help. Our paper costs are reasonably priced to approximately 90% of students around the globe. Our main aim is to ensure students achieve academic excellence, and we believe inconsiderable prices should not hinder students from getting quality homework writing help. In case of any dissatisfaction, we offer unlimited revisions and rewrites without extra charges.

Timely delivery of papers

Tight deadline? Is your paper due in the next few hours? Worry no more. Our writers are here for your rescue. Many college students find it hard to balance their social and academic life and get caught up with academic deadlines. Drafting your paper at the last minute does not allow you to conduct extensive research and craft the correct answers. We have expert writers ready to work on your assignment writing. Urgent writing services are the ultimate solutions you need. We guarantee you timely delivery of papers at your convenience and specified time delivery of the customer.

100% Original Tasks

The ultimate deal-breaker in achieving good grades is submitting imitative papers. Plagiarism is a breach of examination standards and has serious consequences. Students need to deliver papers written in their understanding by paraphrasing their research findings and relevant citations. Our expert's primary consideration is providing free plagiarized papers that meet the lecturers' requirements. Our editors will proofread your paper before delivery ad ensure your papers will not be substandard. We guarantee extreme originality, and in case of any customer concerns, we offer a plagiarism report.

All Round the clock Customer Support

Our website is user-friendly and super useful! Mycoursewriter is the most trusted online writing website always available to provide you with assignment writing services that you need. Our primary concern is meeting customer need specifications by our friendly customer support team that Is available all the time. Our website usability is self-learnable but in case of any problem, feel free to contact us directly through our website email: support@mycourserwiter.com. We have diligently satisfied thousands of students, and you can witness this on our sites' review page.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Advantages of Using Our Assignment writing Services

Mycoursewriter welcomes you for superb essay writing services. We are a legit site offering help with your most challenging homework writing assignments at affordable prices. Your essay paper will be assigned to a professional writer who will craft the paper from scratch according to your provided instructions.

Essays

Essay Writing and Proofreading Services

Essay writing is a common assignment writing for most college students. It takes a lot of time to craft a complete perfect essay. Mycourserwiter offers the best essay writing and proofreading services for most college students. Your paper is assigned to an expert writer who does thorough research on fresh ideas and personalizes your essay paper according to your assignment writing guidelines. Our essays are entirely exceptional and undergo a strict procedure that includes papers free from plagiarism and thorough proofreading.

Admissions

Admission and Business Papers

Writing an admission paper is not every student's desire, and this should not hinder any student from earning an admission. Writing a perfect personal statement to earn a position in a dream school or job can be stressful. Personal statements should display a high level of confidence and uniqueness. Admission essays require you to have a vast knowledge of the current happenings in the world and knowhow of the business world. We have qualified writers with skills who will write your admission paper through comprehensive research. All you have to do is provide us with little details about yourself, instructions and our writers will craft a perfect paper for you.

Editing

Editing and Proofreading

Mycoursewriter offers you assignment writing services free from grammatical and formatting mistakes. An error-free paper is significant in scoring the desired maximum grades. We have a team of editors who will go through your paper after our expert writers have delivered their fully crafted papers. Our writers will cover all the aspects of your paper instructions, such as fonts, spacing, and educational formats. Our team of editors will check through your paper to make sure it meets the formatting style provided in the paper instructions. Under no circumstances will a poorly formatted paper will be forwarded to you as our team of editors will ensure careful proofreading.

Coursework

Technical Papers

Assignment writing is part of a learning process, and one may not have the knowledge to answer all questions correctly. This should not be a stress to you as we have qualified essay writing experts to help you. Our qualified writers are holders of PhDs, Degrees, and Masters in different areas of study and can handle any papers regardless of the complexity. Multiple assignments may be challenging to finish on time. Our skilled professional writers are here to assist you in crafting all the correct answers for your assignment. Stop stressing about your homework writing and place an order with us, and our expert writers will provide you with the best assignment help.

Open chat
Chat with us Live Here
Get in Touch with Our Live Chat Agents via WhatsApp on +1(346) 416-0954. Get Unlimited Access to Answers on Any Queries With Your Paper.