A journalist believes that it is possible to predict the number of Winter Olympic medals a country will win by analyzing the country's gross domestic product (GDP) per capita in the year prior to the Olympics. The journalist collects data on the 26 countries that won medals at the 2010 Winter Olympics and performs a regression analysis. The results for this regression are provided below.
Based on the model's coefficients, by how many thousands of dollars does GDP per capita in a country need to increase on average in order for the country to win one more Winter Olympic medal?
During a prolonged recession, a hotel chain sees reservations at one of its locations decline by five percent. The chain soon decides to close that location. Why would a small change in capacity utilization have this effect?
A city planner believes that as people's income rises, they are less likely to travel to work using public transportation or carpools. To see whether this belief is substantiated, the city planner gathers data from the 50 U.S. states on mean household income (in thousands of dollars) as well as the percent of people who take public transportation or carpool to work. The results for this regression are given below.
Which of the following Excel formulas would correctly forecast the dependent variable for a state with a mean household income of $37,000?
In order to predict an employee's probability of success at work, a company requires employees to complete a test that measures Intelligence Quotient (IQ) and Emotional Intelligence Quotient (EQ). A new manager at the company believes that the probability of being successful at work is closely related to an employee's Reputation Quotient (RQ).
Based on the two regressions outputs below, does adding the RQ component help forecast the probability of being successful at work?
A new weather forecast predicts a storm for Saturday. On Saturday, there will be an outdoor soccer match and an indoor basketball game played. If sports fans enjoy all types of sports, what will happen to ticket sales for both games?
