STAT 326
Fall 2011
Lab 10
due at the end of the Lab period
General Instructions for Lab work:
1. Sign your name on the class list as you arrive to the Lab.
2. Work in groups of at most 3 (but you can work independently as well, if you wish).
However, if y
STAT 326
Homework 7
Fall 2011
Show all your work for full credit!
As a general rule, round to the third decimal place, except when reporting prices, which
should be rounded to the second decimal place.
Insurance claims. A medium-sized automobile insurance
STAT 326
Homework 5
Fall 2011
Show all your work for full credit! Unless noted otherwise, round to the 3rd decimal place.
Transit planning. Imagine you have been retained as a consultant by the local public transit authority to analyze
demand for city bus
LAB 8Solutions: Total: 25 points and 1 Bonus point
Fall 2011
The Current Population Survey (CPS) is used to supplement census information between census
years. These data consist of a random sample of 534 persons from the CPS, with information on
wages an
STAT 326
Homework 6
Fall 2011
Show all your work for full credit! Unless noted otherwise, round to the 3rd decimal place.
Box Oce Gross and Pay per View Sales. Consider the same problem of predicting subsequent sales for
movies based on Box Oce gross sale
FINAL EXAM STUDY GUIDE STAT 326
Below is a study guide for material covered on Exam 1 and Exam 2, followed by the new material
after Exam 2. This guide is not comprehensive, but just a general guideline. All practice problems
(presented in the online quiz
STAT 326
Homework 10
Fall 2011
Show all your work for full credit! Unless noted otherwise, round to the 3rd decimal place.
Internet Trac at ISU In December 1995, Iowa State University updated their Internet circuit from a T 1 line
that could transmit data
LAB 5 KEY: Total: 25 points and 1 Bonus point
Fall 2011
Box Oce Gross and Pay per View Sales. Cable and Satellite TV companies need to decide
which movies to include as part of their Pay per view packages. It is expected that a determining
factor in the p
STAT 326
LAB 3 KEY: Total: 25 points and 1 Bonus point
Fall 2011
Annual Beef Consumption. A national food retailer is looking to estimate beef consumption per capita for the
upcoming year. Factors that could possibly eect beef consumption have been tracke
STAT 326
Fall 2011
Lab 11
due at the end of the Lab period
General Instructions for Lab work:
1. Sign your name on the class list as you arrive to the Lab.
2. Work in groups of at most 3 (but you can work independently as well, if you wish).
However, if y
STAT 326
Fall 2011
LAB 2
due at the end of the Lab period
General Instructions for Lab work:
1. Sign your name on the class list as you arrive to the Lab.
2. Work in groups of at most 3 (but you can work independently as well, if you wish).
3. Write down
EXAM I STUDY GUIDE STAT 326
This is a study guide for material covered by Exam 1. This guide is not comprehensive,
but just a general guideline. All practice problems (presented in the online quiz, lab and
homework) as well as lecture notes are the primar
iRATRs Unit 1 (before Exam 1)
.i.I.THEE.9-1.[E91
I always looknrward to the beginning ofthe semester. Everyone comes backto campus refreshed from the long break and excited forthe newsemesterto startfresh. There is no bettertime in
the semestertostartto
Multiple Regression
Simple Linear Regression Versus Multiple Regression
Stat 326 - Estimation
Multiple Regression
Example: Assume you want to create a model aimed at predicting the
sales revenue at store.
Iowa State University
Make a list of explanatory v
Auction Price vs. Age by Number of Bidders
Number of Bidders
5-7
J
F
G
2000
7-8
8 - 10
G
H
10 - 12
E
Auction P
Price
K
12 - 15
E
1500
F
K
1000
J
B
500
100
F
I
I
H
G
E
C
110
D
A
E
C
D
C
D
E
D
B
B
B
C
120
130
140
150
160
170
180
190
200
Age
January 26, 2017
W HAT IS B USINESS S TATISTICS USED FOR ?
Use graphics of data
S TAT 326 - I NTRODUCTORY B USINESS S TATISTICS II
Use linear regression
Population versus Statistics
Use of multiple regression analysis
Use logistic regression analysis
Iowa State University
Inference for Regression
One Objective of Regression Inference
Is the linear relationship between X and Y significant or not? Did the
linear pattern occur just by chance? We need to assess whether linear
relationship between x and y holds true for the ent
Stat 326
Describing Two Quantitative Variables
Iowa State University
Describing Two Quantitative Variables
Stat 326
Iowa State University
1/9
150
100
50
0
Book Store Price
200
Examining Relationships
0
50
100
150
200
Amazon Price
Describing Two Quantitati
Population Regression Model
The regression model that we assume to hold true for the entire
population is the so-called population regression line
Stat 326
y = 0 + 1 x
or
Yi = 0 + 1 x i + i
where i N (0, )
Simple Linear Regression
y average (mean) value o
Multiple Regression
How do we use the fitted multiple regression model?
Example: Grandfather clocks data
Stat 326 - Interpretation
yb = 1338.951 + 12.741 x1 + 85.953 x2
The first clock in our data set was auctioned off for $1,235, it was 127
years and it
Correlation
Consider the the following two scatterplots:
15
15
Stat 326
Correlations
10
response.variable
response.variable
10
5
5
0
0
-5
-5
-10
-5
Iowa State University
0
5
explanatory.variable
-5
0
explanatory.variable
5
Both indicate a positive, linear
STAT 326
LAB 1 KEY: Total: 25 points
Fall 2011
Government transfer payments.
(a) [1pt.] Fill in the blanks: The explanatory variable (x) in this problem is
the amount of transfer payments received by a family and the response variable (y) is
the money spe
LAB 4 KEY: Total: 25 points and 1 Bonus point
Fall 2011
Annual Beef Consumption. A national food retailer is looking to estimate beef consumption per
capita for the upcoming year. Factors that could possibly eect beef consumption have been tracked
for the