A firm has modeled its experience with industrial accidents and found that the number of accidents per year (y-hat) is related to the number of employees (x) by the regression equation:
y-hat = 3.3 + 0.049x. The r-squared value is 0.68.
The regression is based on 20 annual observations. The firm intends to employ 480 workers next year. How many accidents do you project? How much confidence do you have in that forecast?
y-hat = 3.3 + 0.049(480 ) = 3.3 + 23.52 = 26.82 accidents. This is not a time series, so next year = year 21 is of no relevance. Confidence comes from the coefficient of determination; the model explains 68% of the variation in number of accidents, which seems respectable.
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The two most basic policies associated with employment stability are:
A) job enrichment and job enlargement. B) employment for life and guaranteed minimum wage. C) follow demand exactly and hold employment constant. D) incentive plans and piece-rate plans. E) full-time and part-time.
Which of the following is true of middle of the road managers?
A) They have an ideal combination of task and interpersonal behaviors and thus are the most effective type of leader B) They are great with people because they demonstrate a compromising leadership style that is especially effective for resolving conflicts C) They are good role models because they spend equal energy on task and interpersonal behaviors D) They are equally concerned at a medium level with task behaviors and interpersonal behaviors