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13.28 Homework NCSS

13.28 Homework NCSS. The SLR model is useful. With at least 95% confidence (really using the pvalue with almost 100% confidence), we conclude square feet is significantly related to hours needed to move.

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13.28 Homework NCSS

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  1. 13.28 Homework NCSS The SLR model is useful. With at least 95% confidence (really using the pvalue with almost 100% confidence), we conclude square feet is significantly related to hours needed to move. Based on the scatter plot and residual plot of errors/residuals versus X (feet or size), the regression assumptions do not appear to be violated.

  2. Manual/Excel

  3. 14.45 Homework NCSS From NCSS Descriptive Statistics suburban city Holding constant the effect of location, for each point increase in summated rating, estimated cost of a meal increases by $1.27. For a given summated rating, the estimated mean cost of a meal in a suburban restaurant is $4.37 less (than the base, the estimated mean meal cost in a city restaurant.

  4. For restaurants in the city location, for a 1 unit increase in summated rating, estimated meal cost increases by $1.27. For restaurants in the suburban location, for a 1 unit increase in summated rating, estimated meal cost increases by $1.27.

  5. 14.46 Homework NCSS

  6. Explaining the significant interaction X2Radio$Low=25 X2Radio$High=65 We cannot say, more spending on newspaper advertising is associated with higher sales. We cannot say, more spending on radio advertising is associated with higher sales. This is because the interaction is significant, and the effect we get from spending more in newspaper advertising depends on our level of radio advertising spending, and vice-versa. There is evidence of a significant interaction effect. For high levels of Radio Advertising spending, whether we spend a small amount or large amount on newspaper advertising doesn’t really matter in terms of sales. Just the opposite is true for low levels of Radio Advertising spending. If we spend a high amount on newspaper advertising, in this case, we do see major gains in sales.

  7. Assumptions Check We are okay!

  8. Assumptions Check - Multicollinearity Almost no multicollinearity at all!

  9. 15.7 Homework

  10. 15.7 Homework NCSS Maybe an assumption violation, i.e. independent errors

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