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A forester wishes to predict the volume (in cubic feet) of usable lumber in a certain species of trees from the height (in feet) and diameter (in inches) of the trees. The height and diameter of 31 trees of a certain species were measured, the trees were cut down, and the volume of usable lumber was determined. The multiple linear regression model
Volume = β0 + β1(Diameter) + β2(Height) + βi
is assumed to hold, where the deviations i are independent and Normally distributed with mean 0 and standard deviation . This model is fit to the data using the method of least squares using statistical software, and the following parameter estimates and their standard errors are obtained.
Based on these results, a 99% confidence interval for β0 is found to be -57.99 ± 23.87. We may conclude
A. if we tested the hypotheses H 0: β0 = 0, Ha: β0 ≠ 0, the P-value would be less than 0.01.B. the estimate of β0 would tell us the volume of a tree of this species when height and diameter are 0.C. Both choices are correct.
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A random variable has a standard deviation of 16, and an unknown mean. Find the lowest size of a simple random sample so that the sample mean estimates the population mean with a standard error no larger than 0.25.
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Do the above values appear to be in statistical control, justify your answer?
The mean of a normal probability distribution is 60; the standard deviation is 5.
Set up hypotheses and test to find out whether or not population variance is larger than $100.
An economist is interested in studying the spending habits of consumers in a particular region. The population variance is known to be $1,000,000. A random sample of 50 individuals resulted in an average expense of $15,000. What is the width of th..
At the 0.10 significance level, can we conclude that the annual rates of return are higher on the big board?
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