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Q1) A multiple regression equation for list price of homes in certain community in USA is=170,000 -850 X1 + 28,000 X2, where X1 signifies age in years and X2 signifies number of rooms. If prospective purchaser is interested in the older, well-constructed home about 55 years old with 10 rooms, what would be predicted list price in that community? (Illustrate your procedure.)
Q2) It is known that if correlation is not important, the best predictor for dependent variable is not? From regression equation. Rather it is the mean of sample values of dependent variable. Compute the best predicted value for following problem? Assume the regression line for 8 pairs of data linking cost of advertising Suppose the products are heavy duty tractors. If rxy= 0.647 and 60 tractors sold, how many tractors would be sold if $5000 were spent on advertising? (Suppose that $5000 is in scope of the sampled data.) Illustrate your method.
The population of lengths of aluminium-coated steel sheets is normally distributed with a mean of 30.05 inches and a standard deviation of 0.2 inches.
If the decision in the hypothesis test of population correlation is to reject the null hypothesis, what can we conclude about the population correlation.
If we select a crew member at random, what is the probability the crew member earns:
What control chart(s) would you use for this data and what are the final control limits?
The number of customers at a specialty meat store averages about 1500/day. The exact number varies from day to day. On Fridays before long weekends, the number of customers increases to about 3000. Which of the following statements is correct
Suppose you are given a grant to run a controlled experiment. Explain how you would structure the experiment in order to estimate the casual effect of hours on sat.
Speed of cars travelling on I-85 in Gaston County is normally distributed with average speed (µ) of 66 MPH and standard deviation (σ) of 8 MPH.
Random samples of 25 observations were selected from each of 3 populations. For these data, SSTR= 120 and SSE = 216.
In a binomial distribution n = 8 and π = 0.2. Determine the probabilities of the following events.
Mean=63.6 Standard deviation=2.5 If 36 data points are arbitrarily chosen, determine the probability that mean is less than 64.
Determine the probability that gas tank's capacity is above 15.25 gallons?
Define the decision rule. Calculate the value of the test statistic.
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