Stats Problems

In: Business and Management

Submitted By ednawells
Words 1802
Pages 8
1. The regression analysis at the bottom relates average annual per capita beef consumption (in pounds) and the independent variables "annual per capita pork consumption" (in pounds) and "average annual beef price" (in dollars per pound). 

The coefficient for beef price, -12, tells us that: 1. For every $1 increase in beef price, average beef consumption decreases by 12 lbs, not controlling for pork consumption. 2. 
For every $12 drop in beef price, average beef consumption decreases by 1 lbs, not controlling for pork consumption. 3. For every $1 increase in beef price, average beef consumption decreases by 12 lbs, controlling for pork consumption, i.e. holding pork consumption constant. 4. For every $12 decrease in beef price, average beef consumption decreases by 1 lb, controlling for pork consumption, i.e. holding pork consumption constant.
Beef Consumption, Pork Consumption, and Beef Price
Source

2. The data in the Excel spreadsheet linked below give the seasonally adjusted value of total new car sales (in millions of dollars) in the United States, total national wage and salary disbursements (referred to here as "compensation") (in billions of dollars), and the employment level in the non-agricultural sector (in thousands) for 44 consecutive quarters. An auto industry executive wants to know how well she can predict new car sales two quarters in advance using the current quarter's compensation data. 

How many data points can she use in a regression analysis using the data provided?
1. 41.
2. 42. * 
3. 43.
4. 
44.

3. The Excel spreadsheet linked below contains the simple regressions of total new car sales (in millions of dollars) on each of two independent variables: "compensation" (in billions of dollars) and "employment level in the non-agricultural sector" (in thousands). 

Which of the following independent…...

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