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Because the coefficient of determination R2 always increases when a new independent variable is added to the model, it is tempting to include many variables in a model to force R2 to be near 1. However, doing so reduces the degrees of freedom available for estimating σ2, which adversely affects our ability to make reliable inferences. Suppose you want to use 18 economic indicators to predict next year's Gross Domestic Product (GDP). You fit the model
where y = GDP and x1, x2, . . ., X18 are the economic indicators. Only 20 years of data (n = 20) are used to fit the model, and you obtain R2 = .95. Test to see whether this impressive-looking R2 is large enough for you to infer that the model is useful, that is, that at least one term in the model is important for predicting GDP. Use α = .05.
In a national wide survey a researcher expects 30 percent of the population will agree with an value statement. He wishes to have less than 2% error and 95% confident. What sample size is needed?
The owner of the Burger Doodle Resturant is considering two ways to expand operation: open a drive-up window or serve breakfast. Th increase in profits reulting from theise proposed expansions depend on weather a competitor opens franchise down th..
Meagan Dubean manages a portfolio of 200 common stocks. Her staff classified the portfolio stocks by 'industry sector' and 'investment objective. If x is a binomial random variable with n=8 and p=0.6, what is the probability that x is equal to 4?
Construct a 89% confidence interval estimate of the overall percentage of the B.C. population in favour of such a casino and what size of sample would be required to do this
Determine a 95% con?dence interval on μ, the true population mean number of sick days taken per employee. Does the evidence in the data support the hypothesis that the mean number of sick days taken by employees is less than 14.00 days?
it is estimated that 56 of the children between the ages of 3 and 5 years are already enrolled in school. in a sample
A leasing firm claims that the mean number of miles driven annually,M , in its leased cars is less than 13020 miles. A random sample of 90 cars leased from this firm had a mean of 12750 annual miles driven.
let x be the number of people in a household for a certain community. consider the following probability density for x
annual pay an employment information service claims the mean annual pay for the full-time male workers over age 25 and
The article can be on Descriptive Statistics, Probability and the Normal Distribution, Sampling and Sampling Distributions, Regression Analysis, or Time Series Forecasting.
consider the following results for independent samples taken from two populations.sample 1 n1400 p10.48sample 2 n2300
You have been given a report that presents two regression models with different numbers of independent variables. You do not have the data so you cannot re computed regression models. Nevertheless, you have been asked to find out which model is b..
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