30 b 6 part ii answer the following questions 1 bob

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30) B-6
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Part (II): Answer the following questions. 1) Bob White is conducting research on monthly expenses for medical care, including over - the - counter medicine. His dependent variable is monthly expenses for medical care while his independent variable is number of family members. Below is his Excel output. (a) What is the prediction equation? (b) Based on his model, each additional family member increases the predicted costs by how much? (c) Based on the significance F - test, is this model a good prediction equation? (d) What percent of the variation in medical expenses is explained by the size of the family? (e) Can the null hypothesis that the slope is zero be rejected? Why or why not? (f) What is the value of the correlation coefficient? B-7
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2) Roscoe Davis, chairman of a college’s business department, has decided to apply a new method in assigning professors to courses next semester. As a criterion for judging who should teach each course, Professor Davis reviews the past two years’ teaching evaluations (which were filled out by students). Since each of the four professors taught each of the four courses at one time or another during the two year period, Davis is able to record a course rating for each instructor. These ratings are shown in the table. Find the best assignment of professors to courses to maximize the overall teaching rating. Course Professor Economics Finance Management Statistics 40 95 65 90 Anderson 75 80 60 70 Sweeney 60 80 40 85 Williams 55 65 80 55 McKinney B-8
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3) A dry cleaner has a single drive - thru window for customers. The arrival rate of car
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