Chapter 4: Q. 4.86 (page 181)
A measure of the amount of variation in the observed values of the response variable not explained by the regression is the----. The mathematical abbreviation for it is----.
Short Answer
Error sum of square
SSE
Chapter 4: Q. 4.86 (page 181)
A measure of the amount of variation in the observed values of the response variable not explained by the regression is the----. The mathematical abbreviation for it is----.
Error sum of square
SSE
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Get started for freeMore Money, More Beer?Does a higher state per capita income equate to a higher per capita beer consumption? From the document Survey of Current Business, published by the U.S. Bureau of Economic Analysis, and from the Brewer's Almanac, published by the Beer Institute, we obtained data on personal income per capita, in thousands of dollars, and per capita beer consumption, in gallons, for the states and Washington. D.C. Those data are provided on the Weiss Stats site.
a. Obtain a scatterplot for the data.
b. Decide whether finding a regression line for the data is reasonable. If so, then also do parts (c)-(f).
Home Size and Value. The data from Exercise 4.74 for home size (in square feet) and assessed value (in thousands of dollars) for the same homes as in Exercise 4.157 are on the WeissStats site.
a. decide whether use of the linear correlation coefficient as a descriptive measure for the data is appropriate. If so, then also do parts (b) and (c).
b. obtain the linear correlation coefficient.
c. interpret the value of in terms of the linear relationship between the mo variables in question.
For which of the following sets of data points can you reasonably determine a regression line? Explain your answer.
8. Regarding the variables in a regression analysis.
a. what is the independent variable called?
b. what is the dependent variable called?
Tax Efficiency. In Exercise 4.58, you determined a regression equation that relates the variables percentage of investments in energy securities and tax efficiency for mutual fund portfolios.
a. Should that regression equation be used to predict the tax efficiency of a mutual fund portfolio with of its investments in energy securities? with of its investments in energy securities? Explain your answers.
b. For which percentages of investments in energy securities is use of the regression equation to predict tax efficiency reasonable?
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