Reference no: EM131818229
A large sample of students was surveyed at a particular university. Among other things, they were asked to report their age and how much money they had earned in the previous year, in thousands of dollars.
a. Use software to access the student survey data and produce a scatterplot of earnings versus age. Which of these best expresses the circumstances for this particular data set?
1. The responses are non-normal and the sample size is small.
2. The responses are non-normal and the sample size is large.
3. The responses are normal and the sample size is small.
4. The responses are normal and the sample size is large.
b. Find the correlation r and the P-value, and choose the best word in both cases to summarize the results: There is (1) weak/borderline/strong evidence of a (2) weak/moderate/strong relationship in the population.
c. Produce the regression equation and complete this rough summary of the relationship: Take a student's age and subtract ______ to find an estimate for how many thousands of dollars we predict to be earned.
d. According to the regression output, predictions of earnings based on age tend to be off by about how many dollars?
e. In general, which is narrower: a confidence interval for the mean response or a prediction interval for an individual response?
f. Considering that the students' mean age was about 20 years, which would be narrower: interval estimates when age equals 20 or when age equals 30?
g. Use software to produce a confidence interval for mean earnings and prediction interval for individual earnings when age equals 20, and also for when age equals 30. Indicate which is the narrowest of the four intervals and which is the widest.
h. A value of 3.5 thousand dollars is not plausible for which one of the following: mean earnings of all 20-year-old students in the population, mean earnings of all 30-year-old students in the population, earnings of an individual 20-year-old in the population, or earnings of an individual 30-year-old student in the population?
Prepare malicious network activity report
: Consortium of Banks represented by the Financial Services Information Sharing and Analysis Center - Who breached the networks and what happened to the extracted
|
How do children differ from adults in the area
: How do children differ from adults in the area? Are there differences based on age within each group?
|
Permanent debt and uses the proceeds to repurchase shares
: Suppose Gartner adds $48 million in permanent debt and uses the proceeds to repurchase shares. What will Gartner's levered value be in this case?
|
Compute the amount of gain or loss to Elton
: Elton, Inc., which owes Boston Co. $900,000 in notes payable, is in financial difficulty. Compute the amount of gain or loss to Elton, Inc. on the transfer
|
Student survey data and produce a scatterplot
: Use software to access the survey data and produce a 95% confidence interval for the proportion of all students who never eat meat
|
Estimate AMRs equity cost of capital and share price
: Amarindo, Inc. (AMR), is a newly public firm with 11.0 million shares outstanding. Estimate AMR's equity cost of capital. Estimate AMR's share price.
|
How does this work create empathy in you
: Research, briefly, the context of this author and work. Write at least four sentences about the context andmake sure to properly cite your source.
|
Sample of students was surveyed at a particular university
: A large sample of students was surveyed at a particular university. Among other things, they were asked to report their weight, and how many minutes
|
Relationship between number of credits taken
: If there is indeed a relationship between number of credits taken and hours slept, should we expect it to be positive or negative? Explain.
|