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

1 true or false every experiment has as many conditions as

1. True or false: Every experiment has as many conditions as there are levels of the independent variable. 2. Give your own example of an environmental, instructional, and invasive experimental manipulation.

In a clinical study of an allergy drug 103 of the 202

In a clinical study of an allergy drug, 103 of the 202 subjects reported experiencing significant relief from their symptoms. At the 0.05 significance level, test the claim that more than half of all those using the drug ...

Suppose a new student honors societynbspalpha alpha

Suppose a new student honors society, Alpha Alpha Alpha, is going to start at Harvard. Alpha Alpha Alpha aims to be exclusive and only wants the best students.Currently, there are about 10,000 students enrolled at Harvar ...

A cotton grower in south georgia produces cotton on farms

A cotton grower in South Georgia produces cotton on farms in Statesboro and Brooklet, ships it to cotton gins in Claxton and Millen where it is processed, and then sends it to distribution centers in Savannah, Perry, and ...

What was the highest point of the popes power and what was

What was the highest point of the pope's power and what was the lowest point?

The mean number of medicine taken by a random sample of 26

The mean number of medicine taken by a random sample of 26 patients has a standard deviation of 3.1 medications. Assume the population is normally distributed Construct a 99% confidence interval for the population standa ...

One study based on responses from 1013 teenagers concluded

One study based on responses from 1013 teenagers concluded that 42% cite grades as their greatest source of pressure. Use .05 significance level to test the claim that fewer than half of all teenagers in the population f ...

1 when do researchers use regression analysis2 what is

1. When do researchers use regression analysis? 2. What is multiple regression analysis? 3. Distinguish among simultaneous (or standard), stepwise, and hierarchical regression.

1 why does quasi-experimentation sometimes require the use

1. Why does quasi-experimentation sometimes require the use of "patched-up" designs? 2. Discuss the philosophy of critical multiplism as it applies to quasi-experimental research.

The following data represents a random sample of number of

The following data represents a random sample of number of shares of a pharmaceutical company's stock traded for 20 days in 2000. 3.99 8.91 10.41 7.53 13.85 5.3 9.7 8.95 12.11 13.26 4.25 8.55 11.6 6.76 27.55 7.72 10.15 4 ...

  • 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

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

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