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Forecast values using multiple regression models.
A air conditioning and heating repair firm conducted a study to determine if the outside temperature, thickness of the insulation and age of the equipment could be used to predict the cost of an electric bill for homes during the winter months in Houston. Texas. The resulting regression equation was:Y = 256.89 - 1.45 X1 - 11.26X2 - 6.10X3, where y = monthly cost,X1 = temperature, X2 = insulation thickness, X3 = age of equipment
(a) If December has an average temperature of 45 degrees and the heater is 2 years old with insulation that is 6 inches thick, what is the forecasted monthly electric bill?
(b) If January has an average temperature of 40 degrees and the heater is 12 years old with insulation that is 2 inches thick, what is the forecasted monthly electric bill?
Reading highway signs is not always easy, especially if your vision is imperfect. Vision in general tends to deteriorate with age. Two researchers conducted a study to determine if the distance at which a standard highway sign could be recognized ..
Test the claim that the mean age of the prison population in one city is less than 26 years. Sample data are summarized as n = 25, x = 24.4 years, and s = 9.2 years. Use a significance level of α = 0.05.
How much time should the employer allow employees to finish the job? (Round up to the nearest minute).
Compute the within group variability. Do you require any post hoc testing? Why or why not? Decribe in detail.
Calculate a 95% confidence interval for the population mean, based on the sample 10, 12, 13, 14, 15, 16, and 49.
Interpret this data using regression and interpret all the findings, R 2 , F, IV coefficient, and the intercept.
What is the likelihood the sample mean is greater than $22.50 but less than $25.00?
Explain the logic of what you have done, writing as if you are speaking to someone who has never heard of correlation (but who does understand the mean, deviation scores, and hypothesis testing);
Researcher is interested in testing whether there are differences in mean between population one and population two.
Consider a Poisson distribution with a mean of two occurrences per time period.
A researcher was interested in determining whether incentives affect the response rate in surveys. A simple random sample of 50 adult residents of a large city was selected. All were mailed a survey and promised a check upon returning a completed ..
A probability value of .25 means that an event will occur:
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