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Agency revenues. An economic consultant was retained by a large employment agency in a metropolitan area to develop a regression model for predicting monthly agency revenues ( y ). She decided that three economic indicators for the area were potentially useful as independent variables, namely, average weekly overtime hours of production workers in manufacturing ( 1 x ), number of job vacancies in manufacturing ( 2 x ), and index of help wanted advertising in newspapers ( 3 x ). Monthly observations on agency revenues and the three independent variables were obtained for the past 25 months. The ANOVA table for the model is as follows:
The consultant decided to screen the independent variables to determine the best set for predicting agency revenues. The regression sums of squares for all possible regression models were found to be as follows:
(a) Determine the subset of variables that is selected as best by the forward selection procedure using F0* = 4.2 (to-add-variable). Show your steps. (b) Determine the subset of variables that is selected as best by the backward elimination procedure using F0** = 4.1 (to-delete-variable). Show your steps.
NOTE: ( t0** ) 2 = F0** (c) Determine the subset of variables that is selected as best by the stepwise regression procedure using F0* = 4.2 (to-add) and F0** = 4.1 (to-delete). Show your steps.
Year Production 2006 8 2007 6 2008 10 2009 12 2010 11 2011 15 2012 14 2013 16 Determine the trend from data given above?
Uses Arithmetic mean is widely used because of the following reasons: Mean is the simplest average to understand and easy to compute. It
Statistical Keys To do statistical operations we must first set the calculator on SD mode [SD stands for "standard deviation" which is the usual st
Q. 1 a) Describe the important quantitative techniques used in public system management. (10) b) Do you think the day will come when all decisions are made with the assistance of
MARKS IN LAW :10 11 10 11 11 14 12 12 13 10 MARKS IN STATISTICS :20 21 22 21 23 23 22 21 24 23 MARKS IN LAW:13 12 11 12 10 14 14 12 13 10 MARKS IN STATISTICS:24 23 22 23 22 22 24 2
For a distribution of scores with = 82 and standard deviation = 2.5, find the following: (Don't forget to sketch the normal curve to help you visualize what you are trying to fi
A. Do the correlation matrix table. B. Which variable (s) has the largest correlation coeffieient which is not a perfect correlation? C. Which variable (s) has the s
Review the Learning Resources and the media programs related to t tests. For additional support, review the Skill Builder: Research Design and Statistical Design and the Skill Buil
The weight of the engine in kN is given in P2 and is suspended from a vertical chain at A. A second chain round the engine is attached at A, with a spreader bar between B and C. Th
OmegaPlus Pty.Ltd. is a chain of Health Food stores operating in Australia: with 12 stores across Sydney, Melbourne and Brisbane. OmegaPlus has recently appointed a new CEO: San
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