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Prices of crude oil have been steadily rising over the last two years (The Wall Street Journal, December 14, 2010). Consider the following portion of monthly data on price per gallon of unleaded regular gasoline in the U.S from January 2009 to December 2010; the full data set can be found on the text website, labeled Gas Price Forecast.
a. Plot the above series to identify an appropriate polynomial trend model. You may ignore seasonality.
b. Compare the adjusted R2 of the linear, the quadratic, and the cubic trend models.
c. Use the appropriate model to make a forecast for the price of regular unleaded gasoline for January and February of 2011.
Auntie Pam's Home Made Wild Grape Jelly has been a great hit through online sales. She has recently expanded her small factory and acquired a new filler machine to accommodate the increased demand, especially for the 12 ounce jar, which is the mos..
Compute the value of t. What is your decision regarding the null hypothesis?
completion time from start to finish of a building remodeling project is normally distributed with a mean of 200
Data from the Motor Vehicle Department indicate that 80% of all licensed drivers are older than age 25. In a sample of n=60 people who recently received speeding tickets, 38 were older than 25 years and the other 22 were age 25 or younger.
He argues that the regression effort says people who perform very poorly in their previous job tend to perform well in their next job. Is this what the regression effect says? Explain.
Run the simple linear regression and give the equation of the least-squares regression line. Do the residuals appear to be approximately Normal? Explain
A person spins the pointer and is awarded the amount indicated by the pointer. It costs $6 to play the game. Determine: The fair price to play the game
Create an appropriate graph of these data.- Do these data indicate that driving near home is particularly dangerous? Explain.
What is the probability that the average weight of the sample is less than 11.34 pounds.
Find the width of each interval by subtracting the lower proportion from the upper proportion, and state which interval is wider.
Construct a scatter plot for the data and do the data appear to have a positive linear correlation, a negative linear correlation, or no linear correlation?
When the rats In the sample reach 10 weeks old, each rat is weighed. The mean weight for this sample is M=974. Sketch the appropriate distribution, and locate the critical region for the alpha level =.05.
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