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Make an Excel graph of the data on U.S. diesel new car sales. (b) Discuss the underlying causes that might explain the trend. (c) Use Excel, MegaStat, or MINITAB to fit three trends (linear, quadratic, and exponential) to the time series. (d) Which trend model do you think is best to make forecasts for the next 3 years? Why? (e) Use each of the three fitted trend equations to make numerical forecasts for 2004, 2005, and 2006. How much difference does the choice of model make? Which forecasts do you trust the most, and why? (f) If you have access to Ward's Automotive Yearbook, check your forecasts. How accurate were they?
he length of time a person spends waiting in a physician's office for an appointment can be a frustrating experience. The results below are the responses of internists from two multispecialty group practices to the following question:
The participants in a television quiz show are picked from a large pool of applicants with approximately 60% men and 40% women. X is a random variable that gives the number of females chosen when ten participants are picked randomly.
Discuss the assumptions of this model. Specifically, how does each variable affect demand? How do the variables influence each other? What limitations might this model have? How can it be improved?
A fellow researcher fits a simple linear regression model Yi = α + βXi + ui by least squares, but has doubts that the first least squares assumption E(ui |Xi) = 0 is correct for her data set.
prevent coronary artery vasoconstriction and the attendant reduction in blood flow to the heart and mechanical function.
The advertising agency promoting the new Keem dishwashing soap wants to get the best exposure possible for the product within the $100,000 advertising budget ceiling placed upon it.
The final examination of a course requires an essay. The number of pages from a sample of 25 students were collected. The data are:
What is the difference between a descriptive model that is developed using multiple regression analysis with time-series data and a model that is considered predictive?
The regression of Y on X predicts? When predicting Y, adding a second predictor variable to the first predictor variable X.
Testing for a linear correlation. Construct a scatter plot, find the value of the linear correlation coefficient r, and find the critical values of r from the table below using a=0.05.
A decision maker is working on a problem that requires her to study the uncertainty surrounding the payoff of an investment. There are three possible levels of payoff -$1,000, $5,000, and $10,000.
Formulate an appropriate statistical model, defi ning all the terms. State the null and two-sided alternative hypotheses which reflect the research question of interest.
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