Interpret the slope coefficient in each of the above estimated
1.
y-hat = 14 + 7.34x
y-hat = 3 + 25 In(x)
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Order Paper NowIn(y-hat) = 2 + 0.08x; se = 0.06
In(y-hat) = 2.5 + 0.48 In(x); se = 0.16
a.
Interpret the slope coefficient in each of the above estimated models, when x increase by one unit in Models 1 and 3 and by 1% in Models 2 and 4. (Round your answers to 2 decimal places.)
Model 1: y-hat increases by units. 7.34 ;
Model 2: y-hat increases by about units. 0.25
Model 3: y-hat increases by about percent. 8.00
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Model 4: y-hat increases by about percent. .48
2.
b.
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For each model, what is the predicted change in y when x increases by 6%, from 10 to 10.6? |
Model 1: y-hat increases by units. 4.40
Model 2: y-hat increases by units. 1.46
Model 3: y-hat increases by percent. 4.92
Model 4: y-hat increases by percent. 2.84
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3. Consider the sample regressions for the linear, the logarithmic, the exponential, and the log-log models. For each of the estimated models, predict y when x equals 57. (Do not round intermediate calculations. Round your answers to 2 decimal places.) |
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Response Variable: y |
Response Variable: ln(y) |
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Model 1 |
Model 2 |
Model 3 |
Model 4 |
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Intercept |
15.13 |
−5.51 |
1.22 |
0.83 |
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X |
1.42 |
NA |
0.05 |
NA |
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ln(x) |
NA |
24.45 |
NA |
0.77 |
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se |
19.54 |
16.10 |
0.12 |
0.10 |
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y-hat |
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Model 1 |
[removed] |
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Model 2 |
[removed] |
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Model 3 |
[removed] |
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Model 4 |
[removed] |
4. Eva, the owner of Eva’s Second Time Around Wedding Dresses, currently has five dresses to be altered, shown in the order in which they arrived:
If Eva uses the shortest processing time first priority rule to schedule these jobs, what will be the average job tardiness?
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2 hours |
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5. Eva, the owner of Eva’s Second Time Around Wedding Dresses, currently has five dresses to be altered, shown in the order in which they arrived: If Eva uses the shortest processing time first (SPT) priority rule to schedule these jobs, what will be the average completion time?
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