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Prepare answers to the following assignments from the e-text, Applied Statistics in Business and Economics, by Doane and Seward:Chapter 12Chapter Review #1Chapter Exercises 12.48 and 12.50Chapter 13Chapter Exercises 13.30 and 13.32Chapter 14Chapter Exercise 14.16Chapter 12Chapter Review #1List two limitations of bivariate regression.Often simplistic (multiple relationships usually exist.Biased estimates, even if relevant predictors are omitted.Why is estimating a multiple regression model just as easy as bivariate regression?Because a computer does all the calculations so there is no extra computational burden.Chapter Exercises:12.48In the following regression, X = weekly pay, Y = income tax withheld, and n = 35 McDonald's employees. (a) Write the fitted regression equation. (b) State the degrees of freedom for a two-tailed test for zero slope, and use Appendix D to find the critical value at α = .05. (c) What is your conclusion about the slope? (d) Interpret the 95 percent confidence limits for the slope. (e) Verify that F = t2 for the slope. (f) In your own words, describe the fit of this regression.R2 0.202Std. Error 6.816n 35ANOVA tableSource SS df MS F p-valueRegression 387.6959 1 387.6959 8.35 .0068Residual 1,533.0614 33 46.4564Total 1,920.7573 34Regression output confidence intervalvariables coefficients std. Error t (df = 33) p-value 95% lower 95% upperIntercept 30.7963 6.4078 4.806 .0000 17.7595 43.8331Slope 0.0343 0.0119 2.889 .0068 0.0101 0.0584(a) Write the fitted regression equation.y = 0.0343x + 30.7963(b) State the degrees of freedom for a two-tailed test for zero slope, and use Appendix D to find the critical value at α = .05.Dof = 35 - 1 = 34, critical value of t corresponding to 34 dof at ( = 0.05 (two-tailed) is 2.032.(c) What is your conclusion about the slope?Since the t- value for the slope (2.889) is greater than the critical value (2.032), the null hypothesis is rejected. Therefore, the population slope is different from zero.(d) Interpret the 95 percent confidence limits for the slope.We are 95% confident that the true population slope lies between 0.0101 and 0.0584.(e) Verify that F = t2 for the slope.t^2 = 2.889^2 = 8.346 ( 8.35 = F(f) In your own words, describe the fit of this regression.Since the p- values are less than 0.05, both the variables x and y have a significant influence in the regression.12.50In the following regression, X = total assets ($ billions), Y = total revenue ($ billions), and n = 64 large banks. (a) Write the fitted regression equation. (b) State the degrees of freedom for a two tailed test for zero slope, and use Appendix D to find the critical value at α = .05. (c) What is your conclusion about the slope? (d) Interpret the 95 percent confidence limits for the slope. (e) Verifythat F = t2 for the slope. (f) In your own words, describe the fit of this regression.R2 0.519Std. Error 6.977n 64ANOVA tableSource SS df MS F p-valueRegression 3,260.0981 1 3,260.0981 66.97...

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