Category: Business and Money > Economics
Asked by: k9queen-ga
List Price: $20.00
29 Oct 2003 22:11 PST
Expires: 28 Nov 2003 22:11 PST
Question ID: 271035
The operations manager of a musical instrument distributor feels that demand for bass drums may be related to the number of television appearances by the popular rock group Green Shades during the preceding month. The manager has collected the data shown in the following scale: Demand for bass drums Green Shades Tv appearances ----------------------------------------------------------------- 3 3 6 4 7 7 5 6 10 8 8 5 a) graph these data to whether a linear equation might describe the relationship between the group's television shows and bass drum sales. b)Use the latest squares regression method to derive a forecasting equation. c)What is youe estimate for bass drum sales if the Green Shades performed on TV nine times last month?
Re: quantitative/stats (28)
Answered By: till-ga on 30 Oct 2003 00:17 PST
As I canīt include graphics in my answer I will lead you to a website where you can get a plot of you data and a complete regression analysis within a few seconds. All you got to to is type the above given data in a table. Please got to the Webstat Main Page ( http://www.webstatsoftware.com/ ) and select "Fire it up" there. You will see a table with rows and columns then. Enter the data as pairs of var1-var2 into the table. Then select "Stat" and you will be offered a Regression, select "simple linear". Select var1 as x-variable and var2 as y-variable. Click the "next" button and mark all three option fields. Enter 9 in the "Predict Y for X" field (this will answer question part c). Then press "calculate" and you will get the following results: " Simple linear regression results: Dependent Variable: var2 Independent Variable: var1 Sample size: 6 Correlation coefficient: 0.7702 Estimate of sigma: 1.3340393 Parameter Estimate Std.Err. DF T-Stat P-Value Intercept 1.6440678 1.6868452 4 0.9746406 0.3849 var1 0.59322035 0.24561656 4 2.4152296 0.0731 X value Pred. Y s.e.(Pred. y) 95% C.I. 95% P.I. 9.0 6.983051 0.8207661 4.704239, 9.261863) (2.6342852, 11.331817 The forecasting equation is: Y = 1.6440678 + 5.59322035*X The precited Y value (amount of bass drums) for 9 performances is 6.983051" from ( http://www.webstatsoftware.com ) Sorry about the poor formatting here, but we canīt use formatted tables here. The data will be plotted there as well, by clicking Save/print you can print the data on your printer. I hope this answers your question. till-ga Search strategy: ( ://www.google.de/search?sourceid=navclient&hl=de&ie=UTF-8&oe=UTF-8&q=regression+analysis+online )
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