Doctor Smith wants to know how many veterinary students decide to pursue a career as a small animal practitioner. There are 27 veterinary schools in the USA, so he decides to randomly select 10% of the students from each school and asks them where they intend to practice one they finish veterinary school. Is this an example of a simple random sample? A Yes, because each student was randomly sampled. B No, because every possible student sample did not have an equal chance of being chosen. C No, because it is impossible to select random samples when working with people. D Yes, because each student of the 27 schools had an equal chance of being sampled.
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- The owner of a restaurant in Bloomington, Indiana, has recorded sales data for the past 19 years. He has also recorded data on potentially relevant variables. The data are listed in the file P13_17.xlsx. a. Estimate a simple regression equation involving annual sales (the dependent variable) and the size of the population residing within 10 miles of the restaurant (the explanatory variable). Interpret R-square for this regression. b. Add another explanatory variableannual advertising expendituresto the regression equation in part a. Estimate and interpret this expanded equation. How does the R-square value for this multiple regression equation compare to that of the simple regression equation estimated in part a? Explain any difference between the two R-square values. How can you use the adjusted R-squares for a comparison of the two equations? c. Add one more explanatory variable to the multiple regression equation estimated in part b. In particular, estimate and interpret the coefficients of a multiple regression equation that includes the previous years advertising expenditure. How does the inclusion of this third explanatory variable affect the R-square, compared to the corresponding values for the equation of part b? Explain any changes in this value. What does the adjusted R-square for the new equation tell you?The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?Do the sales prices of houses in a given community vary systematically with their sizes (as measured in square feet)? Answer this question by estimating a simple regression equation where the sales price of the house is the dependent variable, and the size of the house is the explanatory variable. Use the sample data given in P13_06.xlsx. Interpret your estimated equation, the associated R-square value, and the associated standard error of estimate.
- You may need to use the appropriate appendix table or technology to answer this question. The following results come from two independent random samples taken of two populations. Sample 1 Sample 2 n1 = 60 n2 = 25 x1 = 13.6 x2 = 11.6 σ1 = 2.5 σ2 = 3 (a) What is the point estimate of the difference between the two population means? (Use x1 − x2.) (b) Provide a 90% confidence interval for the difference between the two population means. (Use x1 − x2. Round your answers to two decimal places.) to (c) Provide a 95% confidence interval for the difference between the two population means. (Use x1 − x2. Round your answers to two decimal places.) toAccountants at the Tucson firm, Larry Youdelman,CPAs, believed that several traveling executives were submittingunusually high travel vouchers when they returned from businesstrips. First, they took a sample of 200 vo uchers submitted fromthe past year. Then they developed the following multiple regressionequation relating expected travel cost to number of days onthe road (x1) and distance traveled (x2) in miles:y = $90.00 + $48.50x1 + $.40x2The coefficient of correlation computed was .68.a) If Barba ra Downey returns from a 300-miJe trip that took herout of town for 5 days, what is the expected amount she shouldclaim as expenses?b) Downey submitted a reimbursement request for $685. Whatshould the accountant do?c) Should any other variables be included? Which ones? Why?A simple random sample is a sample drawn in such a way that each member of the population has: some chance of being selected in the sample. an equal chance of being included in the sample. a 1% chance of being included in the sample.
- Paige DeMarco is the Vice President for University Advancement at State University. She is responsible for the capital campaign to raise money for the new student services building. Paige selects the first 100 alumni listed on a web-based social networking site for State University. She intends to contact these individuals regarding possible donations. Her sample is a _________. convenience sample cluster sample stratified sample systematic sample simple random sampleIn a sample of 103 bags of dog food, the average weight was found to be 21.5lb with a standard deviation of 0.5. Give a point estimate for the population variance of the weight of the bags of dog food. Round your answer to two decimal places, if necessary.4-13 Students in a management science class have just received their grades on the first test. The instructor has provided information about the first test grades in some previous classes, as well as the final averages for the same students. Some of these grades have been sampled and are as follows: STUDENT 1 2 3 4 5 6 7 8 1st test grade 98 77 88 80 96 61 66 95 69 Final average 93 78 84 73 84 64 64 95 76 a. Develop a regression model that could be used to predict the final average in the course based on the first test grade. b. Predict the final average of a student who made an 83 on the first test. c. Give the values of r and r2 for this model. Interpret the value of r² in the context of this problem.
- Suppose you are a market researcher conducting a study to determine the average household income in Durban North. Your budget allows you to survey only 500 households out of the 50,000 households in that particular suburb. Explain how you would use random sampling to select your sample focusing upon the potential sources of bias and error that may arise in the process8. assignment variable at which the treatment status does NOT change In Regression Discontinuity framework, the cutoff is defined as the level of the True False 9. What regression equation do we use for regression discontinuity framework? a) Y = Bo + B1 T + B2Xu+ Ei b) Y = Bo + B,T+ B2C + ei c) Y, = Bo + B, T+ B2 (Xi-C) + ei d) Y, = Bo + B1T + B2 (Xu + C) + € 10. Regression Discontinuity Design accomplices apples-to-apples comparison by comparing individuals as far from the cutoff as possible. True FalseWhen testing the IFE (International Fisher Effect), we run a linear regression, R^2 could be used to measure