At a Recent Music Concert, a Survey Was Conducted That

question 172

Essay

At a recent music concert, a survey was conducted that asked a random sample of 20 people their age and how many concerts they have attended since the beginning of the year. The following data were collected. $$\begin{array} { | l | c | c | c | c | c | c | c | c | c | c | } \hline \text { Age } & 62 & 57 & 40 & 49 & 67 & 54 & 43 & 65 & 54 & 41 \\\hline \text { Number of concerts } & 6 & 5 & 4 & 3 & 5 & 5 & 2 & 6 & 3 & 1 \\\hline\end{array}$$ $$\begin{array} { | l | c | c | c | c | c | c | c | c | c | c | } \hline \text { Age } & 44 & 48 & 55 & 60 & 59 & 63 & 69 & 40 & 38 & 52 \\\hline \text { Number of Concerts } & 3 & 2 & 4 & 5 & 4 & 5 & 4 & 2 & 1 & 3 \\\hline\end{array}$$ $\begin{array}{ll}\text { SUMMARY OUTPUT }&\text { DESCRIPTIVE STATISTICS }\\\begin{array}{lc}\hline {\text { Reqression Statiatics }} \\\hline \text { Multiple R } & 0.80203 \\\text { R Square } & 0.64326 \\\text { Adjusted R Square } & 0.62344 \\\text { Standard Error } & 0.93965 \\\text { Observations } & 20 \\\hline\end{array}&\begin{array}{lclc}\hline {\text { Age }} &&{\text { Concerts }} \\\hline \text { Mean } & 53 & \text { Mean } & 3.65 \\\text { Standard Error } & 2.1849 & \text { Standard Error } & 0.3424 \\\text { Standard Deviation } & 9.7711 & \text { Standard Deviation } & 1.5313 \\\text { Sample Variance } & 95.4737 & \text { Sample Variance } & 2.3447 \\\text { Count } & 20 & \text { Count } & 20\\\hline\end{array}\\\end{array}$
$\text { SPEARMAN RANK CORRELATION COEFFICIENT }=0.8306$

$\begin{array}{lccccc} \text { ANOVA }\\\hline& \text { df } & \text { SS } & \text { MS } & F & \text { Significance F } \\\hline \text { Regression } & 1 & 28.65711 & 28.65711 & 32.45653 & 2.1082 \mathrm{E}-05 \\\text { Residual } & 18 & 15.89289 & 0.88294 & & \\\text { Total } & 19 & 44.55 & & &\\\hline\end{array}$

$\begin{array}{lcccccc}\hline & \text { Coefficients } & \text {Standard Error } & \text { t Stat } & \text { P-value } & \text { Lower } 95 \% & \text { Upper 95\% } \\\hline \text { Intercept } & -3.01152 & 1.18802 & -2.53491 & 0.02074 & -5.50746 & -0.5156 \\\text { Age } & 0.12569 & 0.02206 & 5.69706 & 0.00002 & 0.07934 & 0.1720\end{array}$ a. Determine the standard error of estimate and describe what this statistic tells you about the model's fit.
b. Interpret the coefficient of correlation.
c. Interpret the coefficient of determination, and discuss what its value tells you about the two variables.

---

Definitions:

Stakeholder Audit

A systematic examination to identify all relevant stakeholders of an organization and analyze their interests and potential impact on the organization.

General Decision-making Model

A systematic approach to making decisions that involves identifying a problem, generating alternative solutions, evaluating these solutions, and then implementing the chosen solution.

Scanning The Environment

The act of systematically reviewing the competitive, economic, political, and social landscapes to anticipate and react to changes.

Law Of Unintended Consequences

The Law of Unintended Consequences highlights the unpredictable and unintended effects that can result from an action or decision.