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Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich
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Are geography journals worth their cost? Refer to the

Chapter 11, Problem 38E

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QUESTION:

Are geography journals worth their cost? Refer to the Geoforum (Vol. 37, 2006) study of whether the price of a geography journal is correlated with quality, Exercise 2.127 (p. 105). Several quantitative variables were recorded for each in a sample of 28 geography journals: cost of a 1-year subscription (dollars); Journal Impact Factor (JIF)—the average number of times articles from the journal have been cited; number of citations for the journal over the past 5 years; and Relative Price Index (RPI). The data for the 28 journals are saved in the file. (Selected observations are listed below.)

a. Fit a straight-line model relating cost (y) to JIF (x). Find an estimate of \(\sigma\), the standard deviation of the error term, and interpret its value.

b. Fit a straight-line model relating cost (y) to number of citations (x). Find an estimate of \(\sigma\), the standard deviation of the error term, and interpret its value.

c. Fit a straight-line model relating cost (y) to RPI (x). Find an estimate of \(\sigma\), the standard deviation of the error term, and interpret its value.

d. Which predictor of cost—JIF, number of citations, or RPI—leads to a regression line with the smallest errors of prediction?

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QUESTION:

Are geography journals worth their cost? Refer to the Geoforum (Vol. 37, 2006) study of whether the price of a geography journal is correlated with quality, Exercise 2.127 (p. 105). Several quantitative variables were recorded for each in a sample of 28 geography journals: cost of a 1-year subscription (dollars); Journal Impact Factor (JIF)—the average number of times articles from the journal have been cited; number of citations for the journal over the past 5 years; and Relative Price Index (RPI). The data for the 28 journals are saved in the file. (Selected observations are listed below.)

a. Fit a straight-line model relating cost (y) to JIF (x). Find an estimate of \(\sigma\), the standard deviation of the error term, and interpret its value.

b. Fit a straight-line model relating cost (y) to number of citations (x). Find an estimate of \(\sigma\), the standard deviation of the error term, and interpret its value.

c. Fit a straight-line model relating cost (y) to RPI (x). Find an estimate of \(\sigma\), the standard deviation of the error term, and interpret its value.

d. Which predictor of cost—JIF, number of citations, or RPI—leads to a regression line with the smallest errors of prediction?

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