scatter diagram 2 b What does the scatter diagram developed in part a indicate

# Scatter diagram 2 b what does the scatter diagram

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scatter diagram 2 b. What does the scatter diagram developed in part (a) indicate about the relationship between the two variables? Positive d. Use the least squares method to develop the estimated regression equation (to 3 decimals). = + x Y=-17.004 + 12.966x e. For every additional car placed in service, estimate how much annual revenue will change. Increase by \$12,966 f. Fox Rent A Car has 11,000 cars in service. Use the estimated regression equation developed in part (c) to predict annual revenue for Fox \$126 million once again getting all these answers using ti-84 linreg(a+bx)
5) Given are five observations for two variables, x and y . x i 1 2 3 4 5 y i 4 7 7 11 15 The estimated regression equation for these data is = 1 + 2.6 x . a. Compute SSE, SST, and SSR using the following equations (to 1 decimal). 5.2 72.8 67.6 SSE SST SSR
b. Compute the coefficient of determination r 2 (to 3 decimals). 0.929 Does this least squares line provide a good fit? Yes, the least squares line provides a very good fit c. Compute the sample correlation coefficient (to 4 decimals). 0.9636
6 ) The data from exercise 3 follow. Excel File: data14-17.xls The estimated regression equation for these data is = 7.6 + .9 x . Compute SSE, SST, and SSR (to 1 decimal). Solution Correct Response eBook {Exercise 14.17} The data from exercise 3 follow. Excel File: data14-17.xls
The estimated regression equation for these data is = 7.6 + .9 x . Compute SSE, SST, and SSR (to 1 decimal). 127.3 281.2 153.9 What percentage of the total sum of squares can be accounted for by the estimated regression equation (to 1 decimal)? % 54.7% What is the value of the sample correlation coefficient (to 3 decimals)? 0.740 SSE SST SSR
7 _ An important application of regression analysis in accounting is in the estimation of cost. By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. Consider the following sample of production volumes and total cost data for a manufacturing operation. Production Volume (units) Total Cost (\$) 400 3,900 450 4,900 550 5,300 600 5,800 700 6,300 750 6,900 a. Compute b 1 and b 0 (to 1 decimal). b 1 7.60 b 0 1146.7 Complete the estimated regression equation (to 1 decimal). = + x Y = 1146.7 + 7.6x b. What is the variable cost per unit produced (to 1 decimal)? 7.6 c. Compute the coefficient of determination (to 3 decimals). Note: report r 2 between 0 and 1. r 2 = 0.959 What percentage of the variation in total cost can be explained by the production volume (to 1 decimal)? 95% d. The company's production schedule shows 500 units must be produced next month. What is the estimated total cost for this operation (to the nearest whole number)? \$4947
8) The data from exercise 3 follow. Excel File: data14-25.xls The estimated regression equation is = 7.6 + .9 x . a. What is the value of the standard error of the estimate (to 4 decimals)?

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