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assign2 - MAR 5621 Advanced Managerial Statistics...

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MAR 5621: Advanced Managerial Statistics Assignment #2 (due in class Thursday, April 15, 2004) This assignment may be done either individually or in teams of 2 people. (Teams should turn in only one paper, with both members’ names on it.) When reporting numerical results from Excel output, please round off the excessive decimals (2 or 3 significant digits are more than enough). Grading: Unless otherwise stated, all problems are worth 2 points per letter. 1. The following questions deal with the Magazine data we encountered in Assignment 1 and in class. DV: Page Costs for a 1-page ad IVs: Audience (measured in thousands) Male (percentage of audience that is male) Income (median household income of audience) (a) Which pair of predictors does the best job of predicting PageCosts? Which is a more useful prediction equation: the best single predictor, or the best pair of predictors? Why? (Use a measure that allows for comparing between equations with different numbers of predictors.) (b) (3 pts) If you knew the Audience score for a magazine, would it be helpful for you to know the Income score for that magazine also? Explain why or why not. Test the null hypothesis that, holding Audience constant, Income is unrelated to PageCosts. Report an appropriate p-value, and state your conclusion of the hypothesis test in a simple English sentence.

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assign2 - MAR 5621 Advanced Managerial Statistics...

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