What is the value of the coefficient of determination for

Assignment Help Basic Statistics
Reference no: EM13615705

A store wishes to predict net profit as a function of sales for the next year. The following table gives the years 1998 to 2005.

Year

Sales

(thousands of dollars)

Net Profit

1998

55

4.5

1999

58

9.2

2000

67

9.8

2001

80

-3.2

2002

72

2.8

2003

73

3.5

2004

84

-2.4

2005

83

-2.8

  • Graph the points from 1998 through 2005 on a scatter diagram using Sales as the independent variable and Net Profit as the dependent variable.
  • Draw the regression line on the graph you constructed in Part (a).
  • What is the value of the coefficient of determination for this regression model? Comment on the strength of the regression line for this model.
  • What is the predicted net profit for 2006 if sales are expected to be 125?

Reference no: EM13615705

Questions Cloud

Let x have a binomial distribution with parameters n and p : let x have a binomial distribution with parameters n and p and let the conditional distribution of y given x x be
An ideal monatomic gas undergoes a reversible expansion : an ideal monatomic gas undergoes a reversible expansion from specific volume v1 to specific volume v2. calculate the
What is the probability that a hand of five cards chosen : what is the probability that a hand of five cards chosen randomly and without replacement from a standard deck of 52
How much work is done a by the block on the spring and b by : a 732 g block is released from rest at height h0 above a vertical spring with spring constant k 300 nm and negligible
What is the value of the coefficient of determination for : a store wishes to predict net profit as a function of sales for the next year. the following table gives the years 1998
On june 15 2006 sanderson constructionentered into a : on june 15 2006 sanderson constructionentered into a long-term construction contract to build a baseballstadium in
Information from the department of motor vehicles indicates : information from the department of motor vehicles indicates that the average age of licensed drivers is micro 45.7
Suppose you have reason to believe that the hazard rate is : for a component a you have the following failure time data days 28 112 15 8 27 21 22 48 28 73.a suppose you have reason
A bicycle is racing around on a horizontal surface in a : a bicycle is racing around on a horizontal surface in a circle of radius 26 m. the force exerted by the road on the

Reviews

Write a Review

Basic Statistics Questions & Answers

  Generate a 95 ci for the difference in proportions of

a clinical trial is conducted to compare an experimental medication to placebo to reduce the symptoms of asthma. two

  Identify type of error based on rejection of null hypothesis

In the real world, given null hypothesis is false; but the collected data lead to the null hypothesis being accepted.  That is, the data lead to a failure to reject null hypothesis.

  Find probability that murder are committed with a firearm

use the normal approximation to the binomial to determine what is the probability that: 100 or more murder are committed with a firearm? a. 0.452 b. 0.548 c. 0.367 d. 0.164.

  Evidence of a difference in variability in the shipping time

At the .05 level of significance, is there evidence of a difference in variability in the shipping time between the two outlets? What decision should the carpet manufacturer make? Please provide step by step solution.

  Are the events picking a red car and picking an ace

an experiment consists of picking one card from a standard deck of cards. are the events picking a red car and

  Descriptive statistics and z-scores

Senator Hayes is considering a a run for the U.S. presidency, but she is only 35 years of age, which is the minimum required age. While investigating this issue, she finds the ages of past presidents when they were inaugurated

  Determine statistics and confidence intervals

John Kim is the purchasing manager for your computer, Inc., a manufacture of network servers. A truckload of sheet metal has just arrived. Previous experience with the supplier suggests that the thickness of the sheet metal follows a normal distri..

  Interpreting values in estimated regression equation

Interpret values of b1, b2, b3 and b4 in this estimated regression equation.

  Drawing the histogram for the given data

Create a histogram over five class intervals.

  Find chance other coin in the drawer selected is also gold

A cabinet has 3 identical drawers. One drawer contains 2 gold coins, another drawer has a gold coin and a silver coin, and the third drawer has 2 silver coins. (a) What is the chance you get a gold coin?

  What bag of cookies can weigh and not need repackaging

Bags of cookies that have weights in the upper 7.5% are too heavy and must be repackaged. What is the most a bag of cookies can weigh and not need repackaging?

  State null-alternative hypotheses-testing recipe for low fat

You want to show an increase in buying and selling of single-family homes this year when compared with last year's rate.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd