SOLUTION: If we use values beyond our data set then a. the predicted value can be wrong b. the linear model may not fit the trend c. A & B 9. When we find a variable that is st

Question 270053: If we use values beyond our data set then
a. the predicted value can be wrong
b. the linear model may not fit the trend
c. A & B
9. When we find a variable that is statically significant
a. it allows us to build a model for estimating points
b. it can referred to as a �driver� of the change
c. A & B
d. it is important based on Bohme�s theory of significance
10.A point estimate for 8 units is
a. 8
b. 6.5
c. 7.36
11. A confidence interval for a sample average of 8 units
a. 4.72 to 9.56
b. 4.03 to 8.97
c. -1.05 to 14.05
d. 1.15 to 14.05
12. A confidence interval for a individual point of 8 units
a. 4.72 to 9.56
b. 4.03 to 8.97
c. -1.05 to 14.05
d. 1.15 to 14.05

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
The regression equation is
Sales1 = - 0.86 + 0.920 Units

Predictor Coef SE Coef T P
Constant -0.864 3.265 -0.26 0.799
Units 0.9203 0.4219 2.18 0.066

S = 3.76362 R-Sq = 40.5% R-Sq(adj) = 32.0%

Analysis of Variance
Source DF SS MS F P
Regression 1 67.40 67.40 4.76 0.066
Residual Error 7 99.15 14.16
Total 8 166.55

Unusual Observations
Obs Units Sales1 Fit SE Fit Residual St Resid
1 12.4 17.10 10.55 2.55 6.55 2.37R
7 11.2 2.90 9.44 2.12 -6.54 -2.10R
R denotes an observation with a large standardized residual.

Predicted Values for New Observations
New
Obs Fit SE Fit 90% CI 90% PI
1 6.50 1.31 (4.03, 8.97) (-1.05, 14.05)

Values of Predictors for New Observations
New
Obs Units
1 8.00

If we use values beyond our data set then
a. the predicted value can be wrong
b. the linear model may not fit the trend
c. A & B
Ans: c
---------------------------------------------
9. When we find a variable that is statically significant
a. it allows us to build a model for estimating points
b. it can referred to as a �driver� of the change
c. A & B
d. it is important based on Bohme�s theory of significance
Ans: I would say "a"
----------------------------
10.A point estimate for 8 units is
a. 8
b. 6.5
c. 7.36
Ans: Sales(8)=-.86 = 0.92*8 = 6.5
------------------------------------------------
11. A confidence interval for a sample average of 8 units
a. 4.72 to 9.56
b. 4.03 to 8.97
c. -1.05 to 14.05
d. 1.15 to 14.05
Ans: 4.03 to 8.97 is the answer for either question 11 or question 12
I would have to read some text material to pin it down.
------------------------------------
12. A confidence interval for a individual point of 8 units
a. 4.72 to 9.56
b. 4.03 to 8.97
c. -1.05 to 14.05
d. 1.15 to 14.05
Ans: See answer to question 11
Cheers,
Stan H.

RELATED QUESTIONS
When given a data set, a. How do we determine the type of model to use? (Linear,... (answered by josgarithmetic)

A particular professor has noticed that the number of people, P, who complain about his... (answered by Theo)

11-22 Sales of industrial vacuum cleaners at Overholt Supply Co. over the past 13... (answered by Alan3354)

For a set of data: x = (0,1,2,3,4,5,6) and y=(36, 28, 25, 24, 23, 21, 19), is it wise to... (answered by ikleyn)

graph the set of data. decide whether a linear model is reasonable. if so, draw a trend... (answered by Fombitz)

Ernie Thayer1 hits a baseball and it travels for 409.6 feet before it lands. When he hits (answered by richard1234)

Assessment Tool Data for the number of facebook users can be readily found on the... (answered by jim_thompson5910)

I really need help with part B When given a data set, a. How do we determine the... (answered by josgarithmetic)

12.50 In the following regression, X = total assets ($ billions), Y = total revenue ($ (answered by stanbon)