Hw #14 - Question#1 Look at the example on slide 28(page 83...

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Question #1 Look at the example on slide 28 (page 83) of the course packet, about Armani Pizza. The coefficient of determination is .928074693 = 0.928074693 , the standard error of the estimate is 28.13339035 , the estimated slope coefficient is 10.89424753 , the corresponding measured test statistic of a two-tail test on the significance of the slope parameter is 10.1604421 . After looking at the p-value corresponding to this test statistic, your conclusion is that the slope is different than zero, the model is useful. Item 4: Your answer is within ±0.0005 of the solution - correct. You received a raw score of 100% on this question. Question #2 Most basketball fans wanted the 1998 NBA lockout to end soon, and so did the players and the owners of the teams -- so why wasn't it over sooner? You were hired as a statistician by HOOPS (Helping Out Organizers and Players of Sports) Inc. to sort out if there was any reason for that strike to go on. You were given a data set on the average salaries of some teams and the profits made by the teams in the 1997 season (both in millions of dollars). Run a regression of average salaries on profits to see whether players were really justified in continuing with the lockout of the NBA claiming that "their salaries are not determined by the profits that the club owners are making." You can download the data in EXCEL format from here and perform the regression analysis in EXCEL to answer the following questions. The coefficient of determination is
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This note was uploaded on 07/23/2010 for the course ECON 203 taught by Professor Petry during the Spring '08 term at University of Illinois at Urbana–Champaign.

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Hw #14 - Question#1 Look at the example on slide 28(page 83...

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