Completely analyze each model

Assignment Help Operation Management

Reference no: EM131854889

Lumber Cutters wish to use readily available measurements to estimate the number of board feet of lumber in a tree.

Assume they measure the diameter of the tree in inches at waist height. Develop a model that predicts board feet as a function of diameter in inches.

Use the following data for your test:

x 17 19 20 23 25 28 32 38 39 41

y 19 25 32 57 71 113 123 252 259 294

The variable x is the diameter of a ponderosa pine in inches, and y is the number of board feet divided by 10

a. Consider two seperate assumptions, allowing each to lead to a model. Completely analyze each model.

i. Assume that all trees are right-circular cylinders and are approximately the same height

ii. Assume that all trees are right-circular cylinders and that the height of the tree is proportional to the diameter

b. Which model appears to be better? Why? Justify your conclusions.

Reference no: EM131854889

Questions Cloud

Calculate the slack or surplus for each constraint : Calculate the Slack or Surplus for each constraint (Make sure and indicate if the calculated amount is Slack or Surplus)

Earth most precious metals : For thousands of? years, gold has been considered one of the? Earth's most precious metals. One hundred percent pure gold is? 24-karat gold

Derive an equation passing through the points : The number of corporate fraud cases pending stood at 545 at the beginning of 2008 (t=0) and was 726 cases at the beginning of 2012.

Draw from the companies free cash flow : What inference can you draw from the companies’ free cash flow?

Completely analyze each model : Assume that all trees are right-circular cylinders and that the height of the tree is proportional to the diameter.

Does a company have to act selflessly : Does a company have to act selflessly to be considered socially responsible? For example, when building a new plant, a corporation voluntarily invested.

What is known as characteristic line of modern investment : What is known as the characteristic line of modern investment analysis is simply the regression line obtained from the following model:

Solve the following system of equations : Solve the following system of equations:

How to outline a layout an actual contract for a business : This is an assignment for a Business Law class and the direction has been minimal as to how to outline a layout an actual contract for a business.

User Account

All Pages