Solution-Least-squares line prediction for the cost of

Least-squares line prediction for the cost of overrun

Reference no: EM1319363

1. In a random sample of eight military contracts involving cost overruns, the following information was obtained. x = big price of the contract (in millions of dollars) and y = cost of overrun (expressed as a percent of the bid price).

x	6	10	3	5	9	18	16	21
y	31	25	39	35	29	12	17	8

If an overrun contract was bid at 12 million dollars, what does the least-squares line predict for the cost of overrun (as a percent of bid price)?

2. Let x be a random variable that represents the length of time it takes a student to write a term paper for Dr. Adam's Sociology class. After interviewing many students, it was found that x has an approximately normal distribution with mean μ = 6.8 hours and standard deviation σ = 2.1 hours. 0 ≤ z ≤ 2

Reference no: EM1319363

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Least-squares line prediction for the cost of overrun

Reference no: EM1319363

Reference no: EM1319363

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