Interpret the estimated model coefficients

Assignment Help Basic Statistics

Reference no: EM131390366

1. You are interested in developing a regression model to predict monthly sales of a departmental store. Discuss the independent variables that you might select. How would you select the functional form for these independent variables?

2. A retail company has information on the time taken (in days) to fulfill an order, the value of the order (in $10,000), the number of different types of products in the order, and the store location. The data are shown in Table.

(a) Find a simple regression model that predicts time to fulfill an order based on value of the order. Interpret the estimated model coefficients.

(b) What is the estimated standard deviation of the error component? Interpret it.

2474_Table 2.jpg

(d) Is there evidence to conclude that value of the order is a useful predictor? Test using α = 0.01.

(e) Interpret the p-value associated with the test in part (d).

Reference no: EM131390366

Questions Cloud

Respective proponents disagree : What were matrix mechanics and wave mechanics, and why did their respective proponents disagree? Who formulated the theory of complementarity, and why?

Explain what an outlier means in given context : Explain what an outlier means in this context. How would you statistically test for the presence of an outlier?- In this context, what do you do if you find some outliers?

Implement the following boolean equations : Draw the logic circuit that would be used to implement the following Boolean equations. Also, construct a truth table for each of the equations. (Hint: Where applicable, apply Law 3 to the equation first. Do not simplify the equation for this prob..

Give the answer of muliple choice question : Roger is new-product project manager for a retail company. Recently the team has exhibited a high degree of conflict over who will control the group and how decisions will be made. Which stage of development is the team in?During which stage of te..

Interpret the estimated model coefficients : Find a simple regression model that predicts time to fulfill an order based on value of the order. Interpret the estimated model coefficients.

Describe your answers in three- to five-complete sentences : Describe your answers in three- to five-complete sentences. What price would you bid if you must win the project? What price would you bid if you want to maximize the expected value of the contribution from this contract?

Density of the metal a determine : Lets say an unknown metal has a mass of 32.6 grams and when submerged it displaced 4.15 mL of water. Calculate the density of the metal a determine its identity?

Moisture in a humid basement area : Why can you use calcium chloride to reduce the moisture in a humid basement area?

Implement your design with an aoi and inverters : Design a circuit that outputs a HIGH (1) whenever a 4-bit BCD code translates to a number that uses the upper right segment. Use variable A to represent the 23 BCD input. Implement your design with an AOI and inverters.

User Account

All Pages