Purchase Solution

Linear Regression For National Highway Association

Not what you're looking for?

Ask Custom Question

The national highway association is studying the relationship between the number of bidders on a highway project and the winning (lowest) bid for the project. Of particular interest is whether the number of bidders increase or decrease the amount of the winning bid. See attachment for the data.

a. Determine the regression equation. Interpret the equation. Do more bidders tend to increase or decrease the amount of the winning bid?

b. A new entrance is to be constructed on the Ohio turnpike. There are seven bidders in the project. Develop a 95% prediction interval for the winning bid

c. Determine the coefficient of determination. Interpret its value

Attachments
Purchase this Solution
Solution Summary

The expert examines linear regression for a national highway association. The regression equation is determined and interpreted.

Purchase this Solution
Free BrainMass Quizzes
Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

View More Free Quizzes
Related BrainMass Solutions

  • Correlation and Regression Analysis - The National Highway Association

    (See attached file for full problem description) Please see the attached file. The determination of specific bids for the national highway association prices are determined through a regression analysis.

  • Regression Equation, Coefficient of Determination

    342804 Statistics: A regression problem for the National Highway Association The National Highway Association is studying the relationship between the number of bidders on a highway project and the winning (lowest) bid for the project.

  • Regression Equation of Number Bidders on a Highway Project

    187261 Regression Equation of Number Bidders on a Highway Project The National Highway Association is studying the relation between the number of bidders on a highway project and the winning (lowest) bid for the project.

  • Regression and Hypothesis Testing

    93779 Regression and Hypothesis Testing The National Highway Association is studying the relationship between the number of bidders on a highway project and the winning (lowest) bid for the project.

  • Simple Linear Regression Analysis

    Compute the correlation coefficient for the two variables and test to determine whether there is a linear relationship between the curb weight and the highway mileages of automobiles. c.

  • Correlation and regression - total variation

    Along with the paired sample data, minitab was also given a car weight of 4000 lb to be used for predicting the highway fuel consumption amount The regression equation is Highway = 50.5 - 0.00587 Weight Predictor Coef SE Coef

  • Regression analysis and forecasting

    Forecast Finley Heaters' sales for the next two years. The National Home Builders Association estimates that 'National housing starts' will be 7.1 million and 8.0 million for the next two years.

  • Introduction to Linear Regression and Correlation Analysis.

    The linear regression equation is (training hours) = 39.943 - 0.00007(revenue). b.

  • ANOVA - Regression analysis

    52) A highway employee performed a regression analysis of the relationship between the number of construction work-zone fatalities and the number of unemployed people in a state. The regression equation is Fatalities = 12.7 + 0.000114 (unemp).

View More Related Solutions