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A car manufacturer is concerned about poor customer satisfaction at one of its dealerships

INSTRUCTIONS TO CANDIDATES
ANSWER ALL QUESTIONS

Q1 A car manufacturer is concerned about poor customer satisfaction at one of its dealerships. The management decides to evaluate the satisfaction surveys of its next 40 customers. The dealer will be fined if the number of customers who report favourably is between 22 and 26. The dealership will be dissolved if fewer than 22 customers report favourably. It is known that 70% of the dealer’s customers report favourably on satisfaction surveys.

a.   What is the probability that the dealer will be fined?

b.   What is the probability that the dealership will be dissolved?

                                                                                                                                              2.5+2.5

Q2 Using data from 50 workers, a researcher estimates

Wage = , where Wage is the hourly wage rate and Education, Experience, and Age are the years of higher education, the years of experience, and the age of the worker, respectively. A portion of the regression results is shown in the following table.

 

Coefficients

Standard Error

 

t Stat

p-value

Intercept 

7.87

4.09

1.93

0.0603

Education 

1.44

0.34

4.24

0.0001

Experience

0.45

0.14

3.16

0.0028

Age 

−0.01

0.08

- 0.14

0.8920

 

a. Interpret the estimates for β1 and β2.

b. What is the sample regression equation?

c. Predict the hourly wage rate for a 30-year-old worker with 4 years of higher education and 3 years of experience.

                                                                                                                                          1.5+1.5+2

 

Q3 A research analyst present data that can be used to investigate allegations of gender discrimination in the hiring practices of a particular firm. These data are given in the table below. In this table, y is a dummy variable that equals 1 if a potential employee was hired and 0 otherwise;  is the number of years of education of the potential employee;    is the number of years of experience of the potential employee; and    is a dummy variable that equals 1 if the potential employee was a male and 0 if the potential employee was a female. If we use the logistic regression model

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