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Using a loop, create an experience variable that takes values from 1 to 10, depending on the manager's level of experience (b7) within a 5-year interval. What is the model of this variable experience.

 

 

 

 

 

 

 

 

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Related textbook solutions

Introductory Statistics
OER Edition, 2013
Openstax
ISBN: 9781938168208

Related questions

Zoo attendance. The Cincinnati Zoo and Botanical Gardens had a record attendance of 1.87 million visitors in 2017 (Cincinnati Business Courier website). Nonprofit organizations such as zoos and museums are becoming more sophisticated in their use of data to improve the customer experience. Being able to better estimate expected revenue is one of the analytics that allows nonprofits to better manage their operations.

The file ZooSpend contains sample data on zoo attendance. The file contains the data on 125 visits by families to zero: the amount spent, size of the family, the distance the family from the zoo (the gate attendee asks for the zip code of each family entering the zoo), and whether or not the family has a zoo membership (1=yes,  0=no).

a. Develop an estimated regression equation that predicts the amount of money spent by a given family size, whether or not a family has a zoo membership (1= yes, 0=no).

b. Test the significance of the zoo membership independent variable at the 0.05 level.

c. Give an explanation for the sign of the estimate you tested in part (b).

d. Test the overall significance of the model at the 0.05 level of significance.

e. Estimate the amount of money spent in a visit by a family of five that lives 125 miles from the zoo and does not have a zoo membership.

 

 

Costco Customer Satisfaction. Consumer Reports uses a 100-point customer satisfaction score to rate the nation's major chain stores. Assume that from past experience with the satisfaction rating score, a population standard deviation of is expected. In 2012, Costco, with its 432 warehouses in 40 states, was the only chain store to earn an outstanding rating for overall quality. A sample of 15 Cosco customer satisfaction scores follows.

95   90   83   75   95   98   80   83   82   93   86   80   94   64   62

a. What is the sample mean customer satisfaction score for Costco?

b. What is the sample variance?

c. What is the sample standard deviation?

Construct a hypothesis test to determine whether the population standard deviation of should be rejected for Costco. With a.05 level of significance, what is your conclusion?

 

(14 marks) Fortune magazine publishes a list of the world’s billionaires each year. We will examine the top 97 of the 1992 list. Their wealth, age, and geographic location (Asia, Europe, Middle East, United States, and Other) are reported. Wealth is a right-skewed variable, so we will consider the natural logarithm log wealth to be the response and will see if age and geographic location are predictors.
(a) (2 marks) Let
Ebe a variable that is 1 if the person is from Europe and 0 otherwise,
Mbe a variable that is 1 if the person is from the Middle East and 0 otherwise,
Obe a variable that is 1 if the person is from the “Other” region and 0 otherwise,
and
Ube a variable that is 1 if the person is from the United States and 0 otherwise.
State a linear model for the mean of log wealth that includes age and the above 4
geographic variables. Call this the full model.
(b) (5 marks) The SSY for these data is 28.3351 and the SSE from fitting the full model
is 27.0461. Use this information to construct an ANOVA table. Your table should
include columns for Source, df, SS, MS and F, and should include rows for the model
(full model), residual and total.
(c) (2 marks) In addition to the full model, the reduced model that includes only an
intercept and age is fit. What is the null hypothesis being considered by fitting these
two models? (Refer to quantities defined in your model.)
(d) (3 marks) The SSM from the reduced model is 59.7. Calculate an F-statistic to test the hypothesis of part (c). State the degrees of freedom for the F-distribution
you would compare this statistic to. (You do not need to calculate the p-value or actually test the hypothesis.)
(e) (1 mark) Using terminology from class, name the kind of Ftest that the statistic in part (d) corresponds to.
(f) (1 mark) If the null model for these data is compared to the model that includes an
intercept and age, what are the results?

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