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A real estate agent wishes to estimate the monthly rental for apartments based on the size (square feet) and the location of the apartments. She chose the following model: y = β0 + β1x1 + β2x2 + ? where, x1 = square footage of the apartment; and x2 = 1 if located in the town center, and 0 if not located in the town center. This linear regression model was fitted to a sample of size 50 to produce the following regression equation: yhat = 145 + 1.2x1 + 300x2.
a) Predict the average monthly rent for an apartment located in the town center that has 1,500 square feet.
b) Predict the average monthly rent for an apartment located in the suburbs that has 1,500 square feet.
c) Interpret b2.
Draw the distribution of the random variable X, representing her time of arrival. (Be sure to include labels and values on the axes.)
At 0.01 significance level can we conclude that mean fare has increased? Determine the p-value?
Explain finding value of test statistic and P-value also understand the result. At the .01 significance level can we compute that the mean fare has increased.
Survey on What do you think is the biggest problem facing education today. One problem with exit polls may be that the wrong "key precincts" were chosen.
Records also point to that interviewing committee of bank officers approves 85% of individuals they interview. Determine probability that Ann's loan request is approved.
What is the predictive value of a negative test result? In other words, what is the probability that an individual who returns a negative tests for hypertension is not hypertensive? Please give your answer to 3 decimal places.
If the city manager knows the average salary nationally is $38,300, which test of significance should be used? Why?
Suppose that X1,..,Xn form a random sample from the normal distribution with unknown mean M and unknown standard deviation S, and let m and s denote the MLEs of M and S. for the sample size n=17, find a value of k such that P(m > M +ks) = 0.95
The National Survey of Student Engagement (NSSE) surveys freshmen and seniors about their level of engagement in campus and classroom activities that enhance learning.
The flashlight batteries produced by one of the northern manufacturers are known to have an average life of 60 hours with a standard deviation of 4 hours. Use Chebyshev's theorem to answer the following questions.
A professor of math refutes the claim that the average student spends 3 hours studying for the midterm exam. Which hypothesis is used to test the claim?
Consider a binomial distribution with 15 identical trials, and a probability of success of 0.5. Use the normal approximation to find the probability that x = 2.
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