Statistics
Not what you're looking for?
Problem 1
Consider the following prices and accuracy ratings for 27 stereo speakers.
(a) Make a scatter plot of accuracy rating as a function of price.
(b) Calculate the correlation coefficient. At ? = .05, does the correlation differ from zero?
(c) In your own words, describe the scatter plot. (Data are from Consumer Reports 68, no. 11 [November 2003], p. 31.
(d) Develop the regression equation. Interpret the slope and the Y-intercept
[Please refer to the attachment for the data]
Problem 2
A study is conducted concerning automobile speeds and fuel consumption rates. The following data is collected:
Speed MPG
44 22
51 26
48 21
60 28
66 33
61 32
a. Plot these data in a scatter diagram.
b. Compute the coefficient of correlation. Explain
c. Compute the coefficient of determination. Explain.
d. Determine the regression equation. Interpret the regression equation. Where does the equation cross the Y-axis?
Problem 3
Tem Rousos, president of Rousos Ford, believes there is a relationship between the number of new cars sold and the number of sales people on duty. To investigate he selects a sample of eight weeks and determines the number of new cars sold and the number of sales people on duty for that week.
Week Sales staff Cars sold
1 5 53
2 5 47
3 7 48
4 4 50
5 10 58
6 12 62
7 3 45
8 11 60
a. Plot these data in a scatter diagram.
b. Compute the coefficient of correlation. Explain
c. Compute the coefficient of determination. Explain
d. Determine the regression equation. Interpret the regression equation. Where does the equation cross the Y-axis? How many additional cars can the dealer expect to sell for each additional salesperson employed?
Problem 4
Listed below is the net sales in $ million for Home Depot, Inc., and its subsidiaries from 1993 to 2004.
YEAR NET SALES
1993 9,240
1994 12,355
1995 15,456
1996 19,873
1997 24,913
1998 30,125
1999 38,423
2000 45,989
2001 53,564
2002 58,654
2003 64,290
2004 73,675
Determine the least squares equation. On the basis of this information, what are the estimated sales for 2005 and 2006?
Purchase this Solution
Solution Summary
The solution provides detailed step-by-step method of performing Regression Analysis and Correlation Hypothesis Test in EXCEL. All the steps of hypothesis testing (formulation of null and alternate hypotheses, selection of significance level, choosing the appropriate test-statistic, decision rule, calculation of test-statistic and conclusion) have been explained and the Regression Analysis has been shown in details.This solution provides students with a clear perspective of the underlying statistical aspects related to Correlation and Regression.
Education
- MSc, Osmania University
- MSc, Indian Institute of Technology - Roorkee (I.I.T.-ROORKEE)
- BSc, Banaras Hindu University
Recent Feedback
- "Very fast turnaround. Excellent communication! Much appreciated!"
- "excellent"
- "excellent"
- "excellent work"
- "Fantastic..great solution and very well explained!!!!"
Purchase this Solution
Free BrainMass Quizzes
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.
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.
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.