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Correlation and Regression Analysis

R squared

Compare two models. Model #1 has an r-squared of .55 and an adjusted r-squared of .50. Model #2 has an r-squared of .52 and an adjusted r-squared of .51. Given this information, what model should you use? a) Use model 1 because r-squared is higher b) Use model 2 because adjusted r-squared is higher c) Use model 1 becau

Autocorrelation function

Assume X(t) is a wide-sense stationary random process with autocorrelation function RX(τ), and that Y(t) is a random process defined by Y(t)= -X(t-t0) where t0 is a constant. The autocorrelation function RYY(t1,t2) of Y(t) is given by what?

Calculate the Pearson correlation for the scores

20. A set of n=20 pairs of scores (X and Y values) has SSx = 25, SSy = 16, and SP=12.5. If the mean for the X values is M=6 and the mean for the Y values is M=4. a. Calculate the Pearson correlation for the scores. Use: Sp/SQRT(SSx )*SQRT(SSy ) b. Find the regression equation for predicting Y from the X values. Use: Sp/S

Statistics: Ballplayer Selection using linear progression (LP)

The Dubuque Sackers, a class D baseball team, face a tough four-game road trip against league rivals in Des Moines, Davenport, Omaha, and Peoria. Manager "Red" faces the task of scheduling his four starting pitchers for appropriate games. Because the games are to be played back to back in less than one week, Revelle cannot count

Linear equations to optimize profit for a brewery

The production manager for Beer etc. produces 2 kinds of beer: light (L) and dark (D). Two resources used to produce beer are malt and wheat. He can obtain at most 4800 oz of malt per week and at most 3200 oz of wheat per week respectively. Each bottle of light beer requires 16 oz of malt and 4 oz of wheat, while a bottle of dar

Relationship between rooms occupied and revenue per day

A suburban hotel derives its gross income from its hotel and restaurant operations. The owners are interested in the relationship between the number of rooms occupied on a nightly basis and the revenue per day in the restaurant. Below is a sample of 25 days (Monday through Thursday) from last year showing the restaurant income a

E2 Grave City relocation: Indicate the linear program model used to solve

Problem E2 Grave City is considering the relocation of several police substations to obtain better enforcement in high-crime areas. The locations under consideration together with the areas that can be covered from these locations are given in the following table: Potential Location for Substations

LP Model - Identify and Explain Optimal Solution

Given the following linear programming model, identify the optimal solution. Maximize Z = $18x1 + $14x2 Subject to: 4x1 + 2x2 < or = 80 2x1 + 6x2 < or = 60 x1, x2 = 0 a) No Solution b) x1 = 5, x2 = 6, Z = 174 c) x1 = 30, x2 = 1, Z = 554 d) x1 = 15, x2 = 5, Z = 340 e) x1 = 18, x2 = 4, Z =380


Q1: Using regression techniques, we can plot a scatter diagram and plot a line to the data using the Least Squares method. Generally, the points do not fall directly on the line. Why does this happen? Is it a problem? Explain the parameters in a linear regression line with the aid of co-ordinate axis. How could you say, if the s

Statistics - Linear Programming Problem

The company I work for makes stainless steel surgical bars and bronze pipe. Each pound of stainless steel surgical bar takes approximately .25 hours of labor and uses roughly 5 kilowatts of electricity. Each pound of bronze pipe takes approximately .5 hours of labor and uses roughly 2 kilowatts of electricity. In creating the br

Investment Portfolio

A bank has $650,000 in assets to allocate among investments in bonds, home mortgages, car loans, and personal loans. Bonds are expected to produce a return of 10%, mortgages 8.5%, car loans 9.5%, and personal loans 12.5%. To make sure the portfolio is not too risky, the bank wants to restrict personal loans to no more than 25% o

Linear programming and simplex method

Kay Manning is a sales manager with two salespeople working for her. The ability of each salesperson to secure new accounts has historically been: Jesse Burkett can generate 4 new accounts per 10 visits to prospects, and Ed Delahanty averages 3 new accounts per 10 visits to prospects. As of May 1, Jesse has 20 established custom

Cost minimization, Linear trend equation, Maximization

Part 1: Inventory manager for Itex received wheels bearing from Wheel - Rite a small producer of metal parts , Unfortunately , Wheel -rite can only produce 500 wheel bearings from wheel rite each year. Since Itex operates 200 working days each year., its average daily demand for wheel bearings is 50. The ordering cost for Itex i

Simplex method

Study problem: 4-10 Solve the following linear programming model by the simplex method. Maximize Z= $40x1 + $30x2 Subject to: 2 x1 + 2 x2 &#61603; 240 2 x1 &#61603; 120 2 x2 &#61619; 80 x1, x2 &#61603; 0

Prediction of Rental Costs

An agent for a real estate company would like to be able to predict the monthly rental cost for apartments, based on the size of the apartments, as defined by the square footage. A random sample of 25 apartments revealed the following: Apartment Monthly Rent ($) Size (Square Feet) 1

Question about Linear programming with excel

Blacktop Refining extracts minerals from ore mined at two different sites in Montana. Each ton of ore type 1 contains 20% copper, 20% zinc and 15% magnesium. Each ton of ore type 2 contains 30% copper, 25% zinc and 10% magnesium. Ore type 1 costs $90 per ton and ore Type 2 costs $120 per ton. Blacktop would like to buy enough or

Predict y values

9. The equation used to predict sunflower yield (in pounds) is y 1.34x1 + 1.41x2 where is the number of acres planted (in thousands) and x2 is the number of acres harvested (in thousands). Use the regression equation to predict the y-values for the given values of the independent variables listed below. Then determine which v

Linear trend equation

The linear trend equation for the following data is: Month Value of fund 1 4 2 6 3 9 4

Distributions of functions

5.3.-1 Let X1 and X2 the independent Poisson random variables with respective means lamda1 = 2 and lamdaT=3. Find: (a) P(X1 = 3, X2 = 5) (b) P(X1 + X2 = 1) HINT: Note that this event can occur if and only if {X1 = 1, X2 = 0} or {X1 = 0, X2 = 1} 5.3-3. Let X1 and X2 be independent random variables with probability d

Statistics - Linear Statistical Predition

One week, when the price was lowered by 5%, sales revenue went up 13% relative to the average week at the regular price. Another week, with the price lowered by 10%, sales revenue was up 18%. The week with the lowest price (lowered by 20%) had sales revenue up 29%. --Using standard methods for linear statistical prediction,

Linear Programming Case Study : Julia's Food Booth(V2)

Julia is a senior at Tech, and she's investigating different ways to finance her final year at school. She is considering leasing a food booth outside the Tech stadium at home football games. Tech sells out every home game, and Julia knows, from attending the games herself, that everyone eats a lot of food. She has to pay $1,

Detailed Explanation to Scatter Diagram

Bi-variate data for the quantitative variables x and y are given in the attached. These data are plotted in a scatter plot. Sketch an approximation of at the least-squares regression line for the data.

Determining the effect of Fouls on basketball game outcomes

Basketball: Fouls Data for this problem are based on information from STATS Basketball Scoreboard. It is thought that basketball teams that make too many fouls in a game tend to lose the game even if they otherwise play well. Let x be the number of fouls more than (i.e., over and above) the opposing team. Let y be the percenta

Plotting data, fitting a trend line, and making predictions.

Please help with the following problem involving correlation and regression analysis. The following table reports the earning per share (in dollar) for Heban Lumber Mill from 1997 to 2003. Year 1997 1998 1999 2000 2001 2002 2003 earning per share 1.56 1.86 2.17 2.41 2.67 2.97 3.40 Please provide answers to the f

Step-wise answer to Statistics - All Topics

An expert witness in a case of alleged racial discrimination in a state university school of nursing introduced a regression of the determinants of Salary of each professor for each year during an 8-year period (n = 423) with the following results, with dependent variable Year (year in which the salary was observed) and predicto

Determining Coefficients in Regression Analysis

The following sample observations were randomly selected. Please see the attached file. Determine the coefficient of correlation and the coefficient of determination. Interpret the association between X and Y.

The production department of NDB Electronics wants to explore the relationship between the number of employees who assemble a subassembly and the number produced. ... [See thee attached question file.]

2. The production department of NDB Electronics wants to explore the relationship between the number of employees who assemble a subassembly and the number produced. As an experiment, two employees were assigned to assemble the subassemblies. They produced 15 during a one-hour period. Then four employees assembled them. They pro