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Sports and Leisure
A recent study suggests that, for NASCAR racers, yearly winnings are related to average finish.15 A random sample of NASCAR racers was obtained, and the average finish (x) and total winnings (y, in millions of dollars) through 31 races in 2013 were recorded for each.16
a. Construct a scatter plot of the data. Describe the relationship between average finish and winnings.
b. Find the sample correlation coefficient. Is the value of r consistent with your interpretation in part (a)? Why or why not?
c. Find the estimated regression line, and complete the ANOVA table.
d. Using your results from part (c), what would the average finish have to be in order to win at least $6 million through 31 races?
We want to test a hypothesis at the .01 level of significance. Based on your computations, would we reject or fail to reject the null hypothesis?
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What are appropriate null and alternative hypotheses?- Explain what type I and II errors are in this context and discuss their relative seriousness.
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The following estimated regression model was developed relating yearly income (Y in $1,000s) of 30 individuals with their age (X 1 ) and their gender (X 2 ) (0 if male and 1 if female).
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(a) There are 15 juniors and 20 seniors in the UMUC Stat Club. The club is to send four representatives to the Joint Statistical Meetings. If the members of the club decide to send two juniors and two seniors, how many different groupings are poss..
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