A company that manufactures computer chips wants to use a multiple regression model to study the effect that 3 different variables have on y, the total daily production cost (in thousands of dollars). Let B,, B,, and B, denote the coefficients of the 3 variables in this model. Using 22 observations on each of the variables, the software program used to find the estimated regression model reports that the total sum of squares (SST) is 485.84 and the regression sum of squares (SSR) is 229.91. Using a significance level of 0.10, can you conclude that at least one of the independent variables in the model provides useful (i.e., statistically significant) information for predicting daily production costs? Perform a one-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places. (a) State the null hypothesis H, for the test. Note that the alternative B hypothesis H, is given. H :0 H, : at least one of the independent variables is useful (b) Determine the type of test statistic to use. D=0 OSO (Choose one) ▼ O
A company that manufactures computer chips wants to use a multiple regression model to study the effect that 3 different variables have on y, the total daily production cost (in thousands of dollars). Let B,, B,, and B, denote the coefficients of the 3 variables in this model. Using 22 observations on each of the variables, the software program used to find the estimated regression model reports that the total sum of squares (SST) is 485.84 and the regression sum of squares (SSR) is 229.91. Using a significance level of 0.10, can you conclude that at least one of the independent variables in the model provides useful (i.e., statistically significant) information for predicting daily production costs? Perform a one-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places. (a) State the null hypothesis H, for the test. Note that the alternative B hypothesis H, is given. H :0 H, : at least one of the independent variables is useful (b) Determine the type of test statistic to use. D=0 OSO (Choose one) ▼ O
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter7: Analytic Trigonometry
Section7.6: The Inverse Trigonometric Functions
Problem 94E
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Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
Question
Transcribed Image Text:A company that manufactures computer chips wants to use a multiple regression model to study the effect that 3 different variables have on y, the total daily
production cost (in thousands of dollars). Let B,, B,, and B, denote the coefficients of the 3 variables in this model. Using 22 observations on each of the
variables, the software program used to find the estimated regression model reports that the total sum of squares (SST) is 485.84 and the regression sum of
squares (SSR) is 229.91. Using a significance level of 0.10, can you conclude that at least one of the independent variables in the model provides useful (i.e.,
statistically significant) information for predicting daily production costs?
Perform a one-tailed test. Then complete the parts below.
Carry your intermediate computations to three or more decimal places.
(a) State the null hypothesis H, for the test. Note that the alternative
hypothesis H, is given.
H, :0
H, : at least one of the independent variables is useful
(b) Determine the type of test statistic to use.
O=0
OSO
(Choose one)
ロロ
O<O
O>O
(c) Find the value of the test statistic. (Round to two or more decimal places.)
(d) Find the p-value. (Round to three or more decimal places.)
(e) Can you conclude that at least one of the independent variables in the model
provides useful information for predicting daily production costs?
O Yes oNo
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