Statistics For Business and Economics

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Statistics For Business and Economics

Uploaded by

Lakshya Pratap Singh Rathore

We take content rights seriously. If you suspect this is your content, claim it here.

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Income Frequency (1000s)

Under $10,000 4,187

$10,000 - $14,999 3,653
$15,000 - $24,999 8,639
$25,000 - $34,999 8,996
$35,000 - $49,999 12,192
$50,000 - $74,999 15,676
$75,000 & over 18,192
Total 71,535
Standard
Average
Deviatio
MPG
n
Automobile A 42 4
Automobile B 38 7
K boat L boat
12 11.8
13.1 12.1
11.8 12
12.6 11.6
14 11.8
11.8 12
12.7 11.9
13.5 12.6
12.4 11.4
12.2 12
11.6 12.2
12.9 11.7
Stores for distinct
Observat
Country Consumers
ions
(Adult/Kid)
1 USA 1
2 USA 1
3 USA 1
4 USA 2
5 USA 2
6 USA 1
7 USA 1
8 UK 2
9 UK 2
10 UK 1
11 UK 1
12 UK 2
13 UK 2
14 UK 2
15 UK 1
16 UK 1
17 Canada 1
18 Canada 2
19 Canada 1
20 Canada 2
21 Canada 1
22 Canada 1
Rep 1 Rep 2 Rep 3 Rep 4
Dist 1 1 3 10 12
Dist 2 17 12 16 14
Dist 3 17 21 22 25
Dist 4 20 10 17 23
Dist 5 22 21 37 32
Trained
Food Entertainm
Event Planners Overall workfor
Services ent
ce
Eventena Events 94.4 94.6 90.9 97.8
Crystal Events 93 96.7 84.2 96.7
way4events - Event 92.9 100 100 88.5
Lolipop events 91.3 88.6 94.8 97.1
Tina events 90.5 95.1 87.9 91.2
Carribean nights 90.3 92.5 82.1 98.8
Charlie events 90.2 96 86.3 92
Il Fornaio 89.9 92.6 92.6 88.9
Joe's dreams 89.4 94.7 85.9 90.8
Johnny Carino 89.2 90.6 83.3 90.5
Lone Star 89.2 90.9 82 88.6
LongHorn 89.1 93.1 93.1 89.7
Maggiano events 88.7 92.6 78.3 91.3
McGrath events 87.2 93.1 91.7 73.6
Olive Garden 87.2 91 75 89.7
Outback Steakhouse 86.6 94.4 78.1 91.6
IMC events 86.2 95.5 77.4 90.9
Grace events 86.1 94.9 76.5 91.5

Answers P Test Ho: Beta2=0

H1: Beta2<>0
P value of food services >0.05 Insignificant
Pvalue of Entertainment<0.05 Significant
P value of trained Workforce<0.05 Significant
P value of technology applications>0.05 Insignificant

F test
Significance F <0.05
Independent variable significantly influence the dependent variable

Entertainment and trained workforce are better predictors of overall rating

Best model Yicap=46.27+0.23Xio+0.25Xi1

SUMMARY OUTPUT

Regression Statistics
Multiple R 0.853411
R Square 0.72831
Adjusted R Square 0.692085
Standard Error 1.317068
Observations 18

ANOVA
df SS MS F
Regression 2 69.7510807 34.87554035 20.10502
Residual 15 26.0200304 1.734668694
Total 17 95.7711111

CoefficientsStandard Error t Stat P-value

Intercept 46.27019 7.09099753 6.525201755 9.601E-06
Entertainment 0.238342 0.0450522 5.290359129 9.07E-05
Trained workforce 0.251016 0.05944635 4.22256512 0.000738

RESIDUAL OUTPUT

Observation Predicted OverallResiduals

1 92.48488 1.91511958
2 90.61187 2.38813082
3 92.31935 0.58065416
4 93.2387 -1.9387042
5 90.11315 0.38685276
6 90.63848 -0.33848411
7 89.93261 0.2673876
8 90.65602 -0.75601912
9 89.53606 -0.13605616
10 88.84106 0.3589387
11 88.05429 1.14571429
12 90.976 -1.87600315
13 87.85016 0.84983741
14 86.60096 0.59903523
15 86.66201 0.53799282
16 87.8778 -1.27779895
17 87.53525 -1.33524806
18 87.47135 -1.37134963
Technolog
y
applicatio
ns 91 SUMMARY OUTPUT
99
90 Regression Statistics
88 Multiple R 0.894929
91 R Square 0.800897
91 Adjusted R 0.739635
99 Standard E 1.211112
87 Observatio 18
91
99 ANOVA
90 df SS MS F Significance F
88 Regression 4 76.70281 19.1757 13.07321983 0.000173
91 Residual 13 19.0683 1.466793
91 Total 17 95.77111
88
91 Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%
91 Intercept 27.31309 12.6589 2.157619 0.050251922 -0.034803 54.66098
88 Food Servi 0.061906 0.117641 0.526229 0.607590363 -0.192243 0.316055
Entertainm 0.241973 0.042663 5.671696 7.646552E-05 0.149805 0.334142
Trained wo 0.236697 0.055152 4.291698 0.000876657 0.117548 0.355846
Technology0.154914 0.081652 1.897237 0.080231255 -0.021485 0.331313

RESIDUAL OUTPUT

Observation
Predicted OverallResiduals
1 92.4109 1.98910492
2 91.89862 1.101380082
3 92.59095 0.309046058
4 92.35272 -1.052724104
5 90.15373 0.346270138
6 90.38822 -0.088222881
7 91.25095 -1.050954888
8 89.97218 -0.072181538
9 89.55034 -0.150341913
10 89.8357 -0.635695218
11 87.69576 1.504244902
12 90.46839 -1.368392445
13 87.69969 1.000310625
14 86.78355 0.416446493
15 85.95867 1.241328641
16 87.83374 -1.233735232
17 87.56676 -1.366763216
18 86.98912 -0.889120425

Significance F
5.69573E-05

Lower 95% Upper 95%Lower 95.0%

Upper 95.0%
31.1560861 61.38429 31.15609 61.38429
0.14231583 0.334369 0.142316 0.334369
0.12430919 0.377723 0.124309 0.377723
Food Services Residual Plot
3
2

Residuals
1
0
-1 88 90 92 94 96 98 100 102

-2
Food Services

Entertainment Residual Plot

3
2
Residuals

Lower 95.0%
Upper 95.0% 1
-0.034803 54.66098 0
-0.192243 0.316055 -1 70 75 80 85 90 95 100 105
0.149805 0.334142 -2
0.117548 0.355846
Entertainment
-0.021485 0.331313