Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

Does the data seem the strength of the relationship among variables is sufficient to warrant using linear regression forecasting?

Carpet City needs to develop a means to forecast its carpet sales. The store manager considers that the stores are directly related to the number of new housing starts in town. The manager has met data from county records on monthly house construction permits as well as from store records on monthly sales. These data are as follows-

Monthly Carpet Sales(1,000 yd.)

Monthly Construction Permits

5

21

10

35

4

10

3

12

8

16

2

9

12

41

11

15

9

18

14

26

1) Develop a linear regression model for these data as well as forecast carpet sales if 30 construction permits for new homes are filed.

2) Determine the strength of the fundamental relationship between monthly sales and new home construction by using correlation.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M923423

Have any Question? 


Related Questions in Statistics and Probability

A researcher found a significant relationship between a

A researcher found a significant relationship between a student's IQ, x1, grade point average, x2, and the score, y, on the verbal section of the SAT test. The relationship can be represented by the multiple regression e ...

Suppose that a certain college class contains 49 students

Suppose that a certain college class contains 49 students. Of these, 24 are seniors, 26 are English majors, and 9 are neither. A student is selected at random from the class. (a) What is the  probability  that the studen ...

Problem 1 if we were to visit europa one of jupiters

Problem 1: If we were to visit Europa (one of Jupiter's Galilean moons) and we were to look at the sky, what would be Jupiter's angular size if Jupiter is in average 670,900 km away from Europa and has a diameter of 139, ...

Problem 1 a menu offers a choice of 3 salads 8 main dishes

Problem 1. A menu offers a choice of 3 salads, 8 main dishes, and 5 desserts. How many different meals consisting of one salad, one main dish, and one dessert are possible? Problem 2. Wing has different books to arrange ...

List an example of each of the followinga two quantitative

List an example of each of the following: a. Two quantitative variables that are likely to have a positive linear relationship. b. Two quantitative variables that are likely to have a negative linear relationship. c. Two ...

Suppose that a certain college class contains 42 students

Suppose that a certain college class contains 42 students. Of these, 23 are freshmen, 28 are history majors, and 8 are neither. A student is selected at random from the class. (a) What is the probability that the student ...

Roger reports i ascribe probability 03 to the philadelphia

Roger reports: I ascribe probability 0.3 to "the Philadelphia Phillies will win the World Series next year, Chris ascribes probability 0.4 to their winning the World Series and to me ascribing probability 0.4 that they w ...

A professor of management has heard that twelve students in

A professor of management has heard that twelve students in his class of 46 have landed an internship for the summer. Suppose he runs into two of his students in the corridor. a. Find the probability that neither of thes ...

1 can single-case experimental designs be used to test the

1. Can single-case experimental designs be used to test the effects of various levels of an independent variable (as in a one-way group design)? Explain. 2. How many levels of the independent variable are there in an ABA ...

How could the federal government at the time of the gilded

How could the federal government at the time of the Gilded Age have reduced the economy's exposure to panics and recessions?

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen