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A local tire dealer wants to predict the number of tires sold each month. He believes that the number of tires sold is a linear function of the amount of money invested in advertising. He randomly selects 6 months of data consisting of tire sales (in thousands of tires) and advertising expenditures (in thousands of dollars). Based on the data set with 6 observations, the simple linear regression model yielded the following results. (X is advertising expenditure in thousand dollars and Y is tires sold in thousands): ∑X =24; ∑Y =42; ∑X2 = 124; ∑Y2 = 338; ∑XY = 196
Find the Intercept and slope and Write the Regression Equation. Also predict the amount of tires (in thousand tires) sold when money invested in advertising is 5 thousand dollars. Calculate the correlation coefficient, coefficient of determination. Check whether there is a relation between correlation coefficient and coefficient of determination. Calculate SSE and MSE and standard error of the slope coefficient.
X has a normal distribution with a mean of 80.0 and a standard deviation of 3.5. Find the following probabilities:
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Suppose you went to the Bureau of Labor Statistics web site and found several predictors of your salary. State three possible predictors and a simulated multilinear regression equation along with their p-values. What does your p-values tell you ab..
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The cutoff (or cutoffs), and the score of the sample on this distribution. Then explain your answer to someone who has never had a course in statistics (but who is familiar with mean, standard deviation, and Z scores).
At the .10 significance level, can we conclude that there is a difference in the amounts quoted?
A teacher claims that the variance on a calculus test is 68. A sample of 28 students had a standard deviation of 5.8. Test the teacher's claim at the 0.05 level of significance.
What is the standard deviation for the sample proportion? What is the probablily that in this group over 18% of the new cars will be found to have electrical problems?
If you randomly select 3 vials from the shipment, in how many ways can at least one of the 3 selected vials have a hairline crack if the order of selection does not matter?
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