A recent article in Business Week listed the "Best Small Companies." We are interested in the current results of the companies' sales and earnings. A random sample of 8 companies was selected and the sales and earnings, in millions of dollars, are reported below. Sales ($million) 89.2 18.6 18.2 71.7 58.6 46.8 17.5 11.9 Earnings ($million) 4.9 4.4 1.3 8 6.6 4.1 2.6 1.7 Let sales be the independent variable and earnings be the dependent variable. (i) Determine the estimated regression equation and comment on the coefficient of X. (ii) For a small company with $50.0 million in sales, estimate the earnings. (iii) Calculate the standard error of estimate and comment on it. (iv) Find the coefficient of determination and interpret the result.

Answers

Answer 1

Answer:

(i) The estimated regression equation is;

[tex]\hat y[/tex] ≈ 1.6896 + 0.0604·X

The coefficient of 'X' indicates that [tex]\hat y[/tex] increase by a multiple of 0.0604 for each million dollar increase in sales, X

(ii) The estimated earnings for the company is approximately $4.7096 million

(iii) The standard error of estimate is approximately 29.34

The high standard error of estimate indicates that individual mean do not accurately represent the population mean

(iv) The coefficient of determination is approximately 0.57925

The coefficient of determination indicates that the probability of the coordinate of a new point of data to be located on the line is 0.57925

Step-by-step explanation:

The given data is presented as follows;

[tex]\begin{array}{ccc}Sales \ (\$million)&&Earning \ (\$million) \\89.2&&4.9\\18.6&&4.4\\18.2&&1.3\\71.7&&8\\58.6&&6.6\\46.8&&4.1\\17.5&&2.6\\11.9&&1.7\end{array}[/tex]

(i) From the data, we have;

The regression equation can be presented as follows;

[tex]\hat y[/tex] = b₀ + b₁·x

Where;

b₁ = The slope given as follows;

[tex]b_1 = \dfrac{\Sigma(x_i - \overline x) \cdot (y_i - \overline y)}{\Sigma(x_i - \overline x)^2}[/tex]

b₀ = [tex]\overline y[/tex] - b₁·[tex]\overline x[/tex]

From the data, we have;

[tex]{\Sigma(x_i - \overline x) \cdot (y_i - \overline y)}[/tex] = 364.05

[tex]\Sigma(x_i - \overline x)^2}[/tex] = 6,027.259

[tex]\overline y[/tex] = 4.2

[tex]\overline x[/tex] = 41.5625

∴ b₁ = 364.05/6,027.259 ≈ 0.06040059005

b₀ = 4.2 - 0.06040059005 × 41.5625 ≈ 1.68960047605 ≈ 1.69

Therefore, we have the regression equation as follows;

[tex]\hat y[/tex] ≈ 1.6896 + 0.0604·X

The coefficient of 'X' indicates that the earnings increase by a multiple of 0.0604 for each million dollar increase in sales

(ii) For the small company, we have;

X = $50.0 million, therefore, we get;

[tex]\hat y[/tex] = 1.6896 + 0.0604 × 50 = 4.7096

The estimated earnings for the company, [tex]\hat y[/tex] = 4.7096 million

(iii) The standard error of estimate, σ, is given by the following formula;

[tex]\sigma =\sqrt{\dfrac{\sum \left (x_i-\mu \right )^{2} }{n - 1}}[/tex]

Where;

n = The sample size

Therefore, we have;

[tex]\sigma =\sqrt{\dfrac{6,027.259 }{8 - 1}} \approx 29.34[/tex]

The standard error of estimate, σ ≈ 29.34

The high standard error of estimate indicates that it is very unlikely that a given mean value within the data is a representation of the true population mean

(iv) The coefficient of determination (R Square) is given as follows;

[tex]R^2 = \dfrac{SSR}{SST}[/tex]

Where;

SSR = The Sum of Squared Regression ≈ 21.9884

SST = The total variation in the sample ≈ 37.96

Therefore, R² ≈ 21.9884/37.96 ≈ 0.57925

The coefficient of determination, R² ≈ 0.57925.

Therefore, by the coefficient of determination, the likelihood of a new introduced data point to located on the line is 0.57925


Related Questions

A 2-column table with 5 rows. Column 1 is labeled Number of Siblings with entries 0, 1, 2, 3, 4. Column 2 is labeled Students with entries (Jenn, Bill, Rosa, Juan), Cho, (Damon, Mike, Lisa, Lupe, Maggie), blank, Greg.
A small class took a survey of the number of siblings each student has. The data are shown in the table.

Which data representation would be most appropriate to represent each student who has a given number of siblings?
line graph
line plot
bar graph
stem and leaf plot

Answers

Answer:

line plot

Step-by-step explanation:

Toby has created a map of his neighborhood. When he drew the map he noticed his house, his friend's house, and the playground formed a right triangle

Answers

2nd or 4th option, they appear to be the same

Use the distributive property to factor the expression below.
544 y - 12 x 7

Answers

The answer is 4 (136y-21)

Explanation:

Factor 4 out of 544y.
4 (136y) - 12*7

Factor 4 out of -12*7.
4 (136y) + 4 (-3*7)

Factor 4 out of 4.
(136y) + 4 (-3*7)
4 (136y- 3*7)

Multiply -3 by 7.
4 (136y - 21)

I’ll give brainiest whoever get it right!

Answers

It’s got to be A because y=Mx+b and I’m pretty sure the m is always on the x axis

PLEASE HELP MEEE!!!!!

Answers

answer is A 400 x .45 is 180 plus 25 = 205

PLEASE HELP WILL MARK BRAINLIST AND GIVE EXTRA 5 POINTS ​

Answers

Answer:

Danny does

Step-by-step explanation:

Compare the fraction of seconds, find their common denominator, then compare the nominators.

3/12, 4/12

Danny's fraction has the least nonimanator so Danny ate the fastest.

2 x (6 divied 2 dived 8) - 4

Answers

Answer:

18

Step-by-step explanation:

6/2=3+8=11

11*2=22

22-4=18

Use this to help you next time!

Paranthesis

Exponets

Multiplication

Divison

Add

Subtract

Hope this helps!

Does any body know how to find Late Payment in Mathematics.​

Answers

Answer:

I don't believe there is a standard formula for late payments. The late payment charge would vary by the lending institution. Some may have their own formula and some may have a set charge.

Step-by-step explanation:

10 seconds : 1 minute as a fraction in simplest form

Answers

Answer:

1/6

Step-by-step explanation:

60 seconds is one minute, so 10 seconds is one-sixth of a minute.

Answer:

Was there supposed to be an attachment?

Step-by-step explanation:

I think there was supposed to be an object but um, i will try my best with the info there is.

10 seconds in a fraction of a whole minute is 1/6. (10/60 = 1/6)

1 minute as a fraction is just (60/60 or 1)

Determine the volume of this prism

Answers

Answer:

200cm cubed

Step-by-step explanation:

Remember that volume of a rectangular prism is length x width x height

Answer: A) 200

Step-by-step explanation: The volume of a prism is length x width x height. Substitute the variables in this given prism into the equation.

Length = 10

Width = 5

Height = 4

V = 10 x 5 x 4 = 200

Observa los puntajes de las respuestas de una evaluación que tuvo de 100 preguntas. Si Alfredo contestó correctamente 57 preguntas, 16 incorrectas y el resto las dejó en blanco, ¿qué puntuación obtuvo en la evaluación?

Answers

La pregunta está incompleta:

Observa los puntajes de las respuestas de una evaluación que tuvo de 100 preguntas. Si Alfredo contestó correctamente 57 preguntas, 16 incorrectas y el resto las dejó en blanco, ¿qué puntuación obtuvo en la evaluación?

Puntos por respuesta:

Correctas: 4

En blanco: -1

Incorrectas: -3

Answer:

Alfredo obtuvo una puntuación de 153.

Step-by-step explanation:

De acuerdo a la información proporcionada, conoces el número de preguntas en la evaluación y el número de preguntas que Alfredo contestó de forma correcta e incorrecta y tienes que restar estas del total de preguntas para encontrar el número de preguntas que dejó en blanco:

100-57-16=27

Ahora, debes multiplicar el número de respuestas correctas, incorrectas y en blanco por su respectivo puntaje:

Correctas: 57*4=228

En blanco: 27*(-1)=-27

Incorrectas: 16*(-3)=-48

Finalmente, debes sumar los resultados obtenidos por cada tipo de respuesta:

228+(-27)+(-48)= 228-27-48=153

De acuerdo a esto, la respuesta es que Alfredo obtuvo una puntuación de 153.

Please someone help, I know its kind of a lot, but I need these answers fast pls.
Using the graphing calculator, type in the table and complete a linear regression. The value of the correlation coefficient is found next to the letter (__) in the table. The value of the correlation coefficient is (__) [round to the hundredths place]. When the correlation coefficient is interpreted, it means that the correlation is (__) and (__). This means the points will be (__) [close or further away] to the line.

Answers

Answer:

Im not sure

Step-by-step explanation:

GOOD LOOK ON YOUR TEST HE DISCONN-ECTED

can anyone help me with this?​

Answers

There is no picture
No because no picture :(

4 x 1/3 as a fraction

Answers

Answer:

4/3 = 1⅓

improper from and it's mixed fraction

Step-by-step explanation:

4*1/3

4/3 = 1⅓

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HELP I NEED HELP ASAP
HELP I NEED HELP ASAP
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HELP I NEED HELP ASAP

Answers

Answer:

B

Step-by-step explanation:

Answer:

Thats a tuff 1 A estimate of B

Step-by-step explanation:

ANYONE IM RUNNING OUT OF TIME!!!!!

Answers

Answer:

Y= -5/2x+3

Step-by-step explanation:

A perpendicular slope is always opposite (meaning if the original is negative, then it is positive and vice versa) and reciprocal (meaning the numerator and denominator of the original are flipped).

The y intercept I found by applying the slope to the point given.

Perpendicular lines have opposite reciprocal lines.

y = mx + b
the m represents the slope
the opposite reciprocal of 2/5 is -5/2
y = -5/2x + b
to solve the rest of the problem, you will need to plug in your x and y coordinates.
-2 = -5/2(2) + b
-2 = -10/2 + b
-2 = -5 + b
Add 5 to both sides.
b = 3

This means your equation is...
y = -5/2x + 3

Mhanifa can you please help? I will mark brainliest! This is due soon!

Answers

Answer:

In a n -sided polygon, sum of its interior angles is (n−2)×180∘ , hence sum of the interior angles in a convex hexagon is (6−2)×180∘=720∘ .

Answer:

Q1

Sum of interior angles on n-sides polygon is:

S = (n - 2)*180°

Sum of interior angles of a hexagon (6-sided polygon):

S = (6 - 2)*180° = 4*180° = 720°Q9

Sum of exterior angles of any polygon is 360°

Each exterior angle of a pentagon is:

360°/5 = 72°

HELP PLS
Jeremy drew out the route he will hike over a 3-day period on the coordinate grid below. He will hike from Point A to Point B and from Point B to Point C on the first two days. On day 3, he will hike directly from Point C to Point A.

If each grid unit represents a distance of 1 mile, what is the distance Jeremy will need to travel between Point C and Point A?

Answers

The distance Jeremy will need to travel between Point C and Point A 19.69 miles.

We have given that,

Jeremy drew out the route he will hike over a 3-day period on the coordinate grid below.

He will hike from Point A to Point B and from Point B to Point C on the first two days.

On day 3, he will hike directly from Point C to Point A.

We have to determine the distance Jeremy will need to travel between Point C and Point A.

What is the distance formula?

[tex]d = \sqrt{(x_2 - x_1)^2 + (y_2-y_1)^2}[/tex]

d = distance

(x_1, y_1) = coordinates of the first point

(x_2, y_2) = coordinates of the second point

(4,9)=(x_1,y_1)

(-4,-9)=(x_2,y_2)

[tex]d = \sqrt{(-4 - 4)^2 + (-9-9)^2}\\d=\sqrt{(8)^2+(18)^2} \\d=2\sqrt{97}\\ d=19.69[/tex]

Therefore, The distance Jeremy will need to travel between Point C and Point A 19.69 miles.

To learn more about the distance visit:

https://brainly.com/question/2854969

#SPJ1

Can some please help me?
First person gets Brainliest, 10 points!

Answers

Answer:

oof iiiiiimmmmmmmmmso sorrry

To find area, you do length * width
For the rectangle, the length is 48 inches and the width is 32 inches.
To find the area of the rectangle, we do 48 * 32
48 * 32 = 1,536
The area of the rectangle is 1,536 inches.
To find the area of a triangle, it is a little different.
To find the area of a triangle, you use the following formula: A = 1/2 bh
We use 48 inches for the base of the triangle since the base side is equivalent to the base side of the rectangle, which is 48. We use 12 inches for the height.
In this case, we do: Area = 1/2(48)(12)
Using PEMDAS, we do multiplication or division depending on which one comes first.
In this case, division comes first
1/2(48) or 48/2 = 24
Then multiply
24 * 12 = 288
The area of the triangle is 288 inches.

Amelia bought a t-shirt for $15 and 3 pairs of pants. She spent a total of $117. Which equation matches this problem?

Answers

Answer:

The answer of the equation is 15x+3x=117.

Step-by-step explanation:

Help i will give u brainlest

Erin buys gas at a gas station for $4 a gallon. There is a sale going on at the gas station so that anyone who buys more than 5 gallons of gas only has to pay $3 a gallon for each gallon over 5 gallons. If a person buys more than 10 gallons of gas, each gallon over 10 gallons is only $2 a gallon for every gallon over 10 gallons but less than or equal to 15 gallons.. Erin's tank holds 12 gallons of gas.

Answers

Answer:

39$

Step-by-step explanation:

20+15+4=39$

easy algebra question

Answers

235 had a natural tan.

Answer: 235 people got a real one

Step-by-step explanation:

The area of a circle is 2.5434 square meters. What is the circle's radius?

Answers

Answer:

r= 0.899m

Step-by-step explanation:

A= [tex]\pi[/tex]r²

r=√A/[tex]\pi[/tex]

Answer:

0.8468686471

Step-by-step explanation:

Area of a circle = π r²

2.2534= 3.142*r^2

0.7171865054=r^2

r=Square root of 0.7171865054

=0.8468686471

An architect has designed a new hotel shaped like a giant rectangular pyramid. The base of the model for this hotel measures 20 inches by 30 inches, and is 25 in. tall. What is the volume of the pyramid?

Answers

Answer:

Volume of pyramid = 5000 cubic inches.

Step-by-step explanation:

Given the following data;

Length = 20 inches

Width = 30 inches

Height = 25 inches

To find the volume of pyramid;

Mathematically, the volume of a pyramid is given by the formula;

[tex] Volume = \frac {1}{3} * base \; area * height [/tex]

First of all, we would determine the base area;

Base area = length * width

Base area = 20 * 30

Base area = 600 in²

Substituting into the formula, we have;

[tex] Volume = \frac {1}{3} * 600 * 25 [/tex]

[tex] Volume = 200 * 25 [/tex]

Volume of pyramid = 5000 cubic inches.

Since you started recording it on your calendar. There have been 112 sunny and 42 rainy days. What has been the rainy day to sunny day ratio?

Answers

Answer: 3:8

Step-by-step explanation:

Number of rainy days = 42

Number of sunny days = 112

To calculate the rainy day to sunny day ratio, we can first use the numbers given as fraction and divide to its lowest term. This will be:

= Number of rainy days / Number of sunny days

= 42 / 112

= 3/8

Therefore, the ratio of rainy days to sunny days will be 3:8

Four less than x = ??

Answers

Answer:

x-4

Step-by-step explanation:

Answer:

x-4

Step-by-step explanation:

hi pls answer <333333

Answers

Answer:

6 , -6 , -9 , 9

.................... .....

Answer:

mom

Step-by-step explanation:

1. Jemima wants to make chocolate chip walnut brownles. Chocolate chips come in a 12oz bag that costs $3. Walnuts
come in a 4oz bag that costs $2. If Jemima needs three pounds of chocolate chips and walnuts combined, and has $15
to spend, how many bags of each can she buy?

Answers

Answer:

4 bags of chocolate chips and 1 bag of walnuts.

Step-by-step explanation:

Find how many ounces are in 3 pounds:

16 oz = 1 lb

16 oz × 3 = 3 lbs

48 oz = 3 lbs

Variable x = number of chocolate chips

Variable y = number of walnuts

4x + 1y = 15

Keep in mind it must equal up to 48 oz and be $15 or under.

4 bags × 12 oz = 48 oz

1 bag × 4 oz = 4 oz

48 oz + 4 oz = 52 oz > 48 oz

4 bags × $3 = $12

1 bag × $2 = $2

$12 + $2 = $14 < $15

Both requirements have been met.

Find the area of the trapezoid

Answers

area = ( top rule + bottom rule ) × height / 2

area = ( 2 + 3 ) × 4 / 2

area = 5 × 4 / 2

area = 20 / 2

area = 10

The area is 10. You can just count the squares and the half squares

Help thanks ☺️..... ........​

Answers

Answer and Step-by-step explanation:

The area of the tile is 9.

To find the area, we multiply the side by another side.

3 times 3 is equal to 9.

#teamtrees #PAW (Plant And Water)

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