### Determining a linear-power and exponential model

Assignment Help Basic Statistics
##### Reference no: EM1319183

Q1) Annual world crude oil production, 1880 - 1998 (millions of barrels)

 Year Mbbl Year Mbbl Year Mbbl 1880 30 1945 2595 1976 20188 1890 77 1950 3803 1978 21922 1900 149 1955 5626 1980 21722 1905 215 1960 7674 1982 19411 1910 328 1962 8882 1984 19837 1915 432 1964 10310 1986 20246 1920 689 1966 12016 1988 21338 1925 1069 1968 14104 1990 22100 1930 1412 1970 16690 1992 22028 1935 1655 1972 18584 1994 22234 1940 2150 1974 20389 1996 23380 1998 24441

Data table gives information on world crude production from 1880 to 1998.

a) Produce scatter plot that shows the relationship between years since 1800 and crude oil production. Comments on what you see.

(b) It seems that no single model will explain the relationship between these variables effectively, Produce a scatter plot of data from 1880 to 1972. (Make sure to use years since 1800!) Use transformation to liberalize data, and then do an inverse transformation to obtain either a power or exponential model that describe the relationship. Give explanation for your choice of transformation with suitable statistical evidence.

(c) Use your model from (b) to forecast crude oil production in 1974. How comfortable do you feel with this prediction? Support your answer with suitable statistical evidence.

d) Now make a scatter plot of data from 1982 to 1998 (again, use years since 1800). Determine a linear, power, or exponential model that explains the crude oil production during this time period.

(e)  Use your model from (d) to forecast crude oil production in 2002. How comfortable do you feel with this prediction? Support your answer with suitable statistical evidence.

#### Finding and comparing the level of significance

If the same sample results had been obtained from a random sample of 16 students, could the students' claim be accepted at a lower level of significance?

#### Normally distributed variable

Average number of mosquitoes in pond is 80 per square meter with a standard deviation of 12. If 16 square meters are choses at random for a mosquiot count, find probabilty t

#### Find the maximum weight allowed by the airline

The standard deviaiton is 2 pounds. If 15% of the suitcases are overweight, find the maximum weight allowed by the airline. Assume the variable is normally distributed.

#### Find probability that mean of sample of families is in range

Assume the standard deviation of the distribution is 2.5 pounds. Find the probability that the mean of a sample of 55 families will be between 17 & 18 pounds.

#### Knowledge about hypothesis testing of mean

System data for a job shop revealed that the average time spent by a job in the shop was approximately n = 5 working days. Construct a statistical test using a level of signif

#### Create new bindings for variables by means

Scheme allows us to create new bindings for variables by means of define, but provides no way to get rid of bindings. Implement for the evaluator a special form makeunbound!

#### Conduct a formal hypothesis test of the claim

Five pair of shoes print length and height were used to conduct a formal hypothesis test of the claim that there is linear correlation between the two variables. Use the val

#### Difference in the mean selling price of homes

Refer to the real estate data in Blackboard. Determine whether there is a difference in the mean selling price of homes with an attached garage and homes without an attached