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The State Department of Taxation wishes to investigate the effect of experience, x, on the amount of time, y, required to fill out Form ST 1040AVG, the state income-averaging form. In order to do this, nine people whose financial status makes income averaging advantageous are chosen at random. Each is asked to fill out the form and report (1) the time y (in hours) required to complete the form and (2) the number of times x (including this one) that he or she has filled out this form. The following data are obtained:
Completion time, 8.0 4.7 3.7 2.8 8.9 5.8 2.0 1.9 3.3
y (in hours)
Experience, x 1 8 4 16 1 2 12 5 3
A model of these data is shown below:
y = βo + β1 (1/x) + €
a) Plot y versus x, with y being the vertical axis.
b) Plot y versus 1/x, with y being the vertical axis. Does this plot support the given simple linear regression model for y? If your answer is yes, what is the dependent variable and what is the independent variable?
Methods of Forecasting Various techniques which are generally used in business forecasting are as under: 1. Forecasting through the opinion of heads of department
a) List down several measures of central tendency and define the difference among them? b) What do you mean by confidence interval, and why it is useful? What is a confidence lev
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Grid is the set of pairs {1, 2, 3, 4} x {1, 2, 3, 4}. Image is the power set of Grid. An element of Image is a subset of Grid and can be represented by a diagram on a 4 by 4
Question 1 Suppose that you have 150 observations on production (yt) and investment (it), and you have estimated the following ADL(3,2) model: (1 – 0.5L – 0.1L2 – 0.05L3)yt = 0.7
BCBSRI was able to reduce MSD related Workers Compensation cases with lost workdays by implementing a New Ergonomic Program in March 2000 and increasing workstation evaluations. Ex
Simple Linear Regression One calculate of the risk or volatility of an individual stock is the standard deviation of the total return (capital appreciation plus dividends) over
applications of normal probability distribution
Question: A car was machine washes each car in 5 minutes exactly. It has been estimated that customers will arrive according to a Poisson distribution at an average of 8 per hour.
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