08CexS_F10

# 08CexS_F10 - The Hong Kong University of Science Technology...

This preview shows pages 1–2. Sign up to view the full content.

ISMT 111: Business Statistics, Fall 2003 1. (a) b β 0 =12 . 679 and b β 1 =1 . 9607 (b) For each unit increase in lot size, the expected worker-hours are estimated to increase by 1 . 96. 12 . 679 represents the portion of worker-hours that is not a f ected by lot size. (c) b y i =12 . 679 + (1 . 9607)(45) = 100 . 91 (d) A lot size of 100 is outside the relevant range for the independent variable. (e) R 2 =0 . 988. So 98 . 8% of the variation in the dependent variable can be explained by the variation in the independent variable. (f) The standard error of estimate is 4 . 71. s = s SSE n 2 = s 266 . 87 14 2 =4 . 71 (g) Based on ( e )and( f ), the R 2 is very large and the standard error of estimate is quite small, so the model should be very useful for prediction of sales. (h)

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### Page1 / 2

08CexS_F10 - The Hong Kong University of Science Technology...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online