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Consider a hypothetical dataset where we want to explore the association between sex {which is categorized by male. female}. race {which is categorized by Asian. Black. Latino. White). and salary {in USD. continuous). Suppose we run a multiple linear regression. where the outcome Y is salary. Xme is race. Xsex is the indication of sex. which has the value 1 if the individual is male. otherwise I]. In the data to be analyzed. we have 3 columns. the column names are salary. race. sex. the data are loaded as name data.
1. Write down the multiple linear regression that includes two coyariates only
2. How many coef?cients can you obtain from the model? How many for each coyariate
3. Assume in the model. the coef?cient of Xsex is -1??. how will you explain this number to a non-statistician? What if it is l??? Write down the two explanations.
Popularity of a first name. The Social Security Administration maintains lists of the top 1000 names for boys and girls born each year since 1879.30
At a large company, the Director of Research found that the average work time lost by employees due to accidents was 104hours per year. She used a random sample
Compare the mean absolute error, root mean square error, and the mean absolute percent of error for all four of these forecasting techniques - what do these statistics tell you about the forecasts? Which one is the best forecast and why?
a. Estimate a multiple linear regression model and interpret its coefficients.
The standard deviation of 0.01 inches. What is the probability that a randomly selected pencil will be less than 0.285 inches?
The Yankees and the Mets are playing a best-four-of-seven series. The winner takes all of the prize money of one million dollars. Unexpectedly
What is the standard deviation of the number of service calls and compute the coefficient of variation of the number of service calls.
Your client wants to save $500,000 for his retirement. He plans to retire in 20 years. How much must he deposit in his individual retirement
If there were a number of models that might explain the data, as in the textile experiment, how might you decide empirically which model to employ?
Assuming that the risk-free rate is 4.2% and the market risk premium is 6.2%, calculate Michalko's weighted-average cost of capital.
A cyclic equilibrium process in n moles of an ideal gas with cV = 2.5R is formed of three sub-processes: a → b is a constant pressure doubling of the volume; b → c is at constant volume with decreasing pressure;c → a is adiabatic.
A newly married couple plans to have four children. Assume that boys and girls are equally likely each time the child is born. Determine the probability couple will have no more than 2 boys?
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