Question
In: Statistics and Probability
Use Minitab and produce the appropriate output to answer the following questions. Attach or include the...
Use Minitab and produce the appropriate output to answer the following questions. Attach or include the relevant Minitab output.
- Construct a scatter plot. Recalling what scatter plots are used for, write a couple of sentences addressing what you observed from the plot. Be sure to relate your observations to the purpose of using scatter plots in regression. (4 points)
- Can we conclude that median family income helps in predicting median home price? Follow the 7 steps for hypothesis testing. (10 points)
- Find the sample regression equation and interpret the coefficients. Remember your interpretations should be in terms of the problem. (4 points)
- Find the coefficient of determination, and interpret its value. (3 points)
- Use residual analysis to check the validity of the model and fully explain your findings and conclusions. (6 points)
- Estimate with 95% confidence the average median home price for all families with a median income of $45,000. Predict with 95% confidence the estimated median home price for an individual family with a median income of $45,000. Write at least one sentence using your confidence interval and at least one sentence using your prediction interval. (6 points)
- Verify that the p-value for the F is the same as the slope’s t statistic’s p-value, and show that t2 = F. (3 points)
- Attach or include the relevant Minitab output. (6 points)
Income and Home Prices in U.S. States (n = 51) State X = Income Y = MedPrice AvPrice AK 40933 241750 263931 AL 57848 128969 153099 AR 46896 120560 139124 AZ 38587 147669 182553 CA 54283 330037 391609 CO 60233 217558 267924 CT 65998 266845 341436 DC 55214 404380 506654 DE 56928 216902 247793 FL 44066 144501 183843 GA 44117 129446 159657 HI 59539 499837 587760 IA 47050 118036 139543 ID 50728 140436 164999 IL 46139 152387 186308 IN 49016 113416 132068 KS 46054 118687 135301 KY 41104 130344 150614 LA 39300 152413 171584 MA 47931 306363 373062 MD 64201 256411 292254 ME 60934 175175 209697 MI 46276 96398 116143 MN 52321 164105 194336 MO 38160 123754 147162 MS 45817 126484 140317 MT 41280 178188 206439 NC 52504 154481 191255 ND 51200 133473 147844 NE 66633 120415 139325 NH 62968 220625 254399 NJ 45134 282633 325722 NM 49781 161176 188610 NV 43830 153364 179627 NY 51006 245858 299812 OH 45886 113730 132093 OK 43103 118771 137614 OR 50602 206977 234853 PA 48314 153439 178266 RI 51623 230354 269788 SC 41698 135855 171514 SD 45352 156243 175849 TN 38591 123613 158176 TX 47266 134854 160510 UT 56701 194147 226030 VA 55928 229420 268338 VT 60367 203970 236773 WA 56163 248555 284782 WI 42777 153935 177864 WV 50351 129369 150706 WY 52201 183202 21112
Solutions
orchestra answered 3 years agoRelated Solutions
Begin by re-writing the problem. Minitab is required; attach or include your output. Type (use Word)...
Begin by re-writing the problem. Minitab is required; attach or
include your output. Type (use Word) your assignment; you may
handwrite equations.
Semester GPAs are compared for seven randomly chosen students
in each class level at Oxnard University. Do the data show a
significant difference in mean GPAs?
GPA for Randomly Selected Students in Four Business
Majors
Accounting
Finance
Human Resources
Marketing
2.48
3.16
2.93
3.54
2.19
3.01
2.89
3.71
2.62
3.07
3.48
2.94
3.15
2.88
3.33
3.46
3.56
3.33...
Begin by re-writing the problem. Minitab is required; attach or include your output. Type (use Word)...
Begin by re-writing the problem. Minitab is required; attach or
include your output. Type (use Word) your assignment; you may
handwrite equations.
Semester GPAs are compared for seven randomly chosen students
in each class level at Oxnard University. Do the data show a
significant difference in mean GPAs?
GPA for Randomly Selected Students in Four Business
Majors
Accounting
Finance
Human Resources
Marketing
2.48
3.16
2.93
3.54
2.19
3.01
2.89
3.71
2.62
3.07
3.48
2.94
3.15
2.88
3.33
3.46
3.56
3.33...
Begin by re-writing the problem. Minitab is required; attach or include your output. Type (use Word)...
Begin by re-writing the problem. Minitab is required; attach or
include your output. Type (use Word) your assignment; you may
handwrite equations.
Semester GPAs are compared for seven randomly chosen students
in each class level at Oxnard University. Do the data show a
significant difference in mean GPAs?
GPA for Randomly Selected Students in Four Business
Majors
Accounting
Finance
Human Resources
Marketing
2.48
3.16
2.93
3.54
2.19
3.01
2.89
3.71
2.62
3.07
3.48
2.94
3.15
2.88
3.33
3.46
3.56
3.33...
Begin by re-writing the problem. Minitab is required; attach or include your output. Type (use Word)...
Begin by re-writing the problem. Minitab is required; attach or
include your output. Type (use Word) your assignment; you may
handwrite equations.
Semester GPAs are compared for seven randomly chosen students
in each class level at Oxnard University. Do the data show a
significant difference in mean GPAs?
GPA for Randomly Selected Students in Four Business
Majors
Accounting
Finance
Human Resources
Marketing
2.48
3.16
2.93
3.54
2.19
3.01
2.89
3.71
2.62
3.07
3.48
2.94
3.15
2.88
3.33
3.46
3.56
3.33...
Use Minitab to answer the questions. Make sure to copy all output from the Minitab: The...
Use Minitab to answer the questions. Make sure to copy
all output from the Minitab:
The U.S. Bureau of Labor Statistics publishes a variety of
unemployment statistics, including the number of individuals who
are unemployed and the mean length of time the individuals have
been unemployed. For November 1998, the Bureau of Labor Statistics
reported that the national mean length of time of unemployment was
14.5 weeks.
The mayor of Chicago has requested the study on the status of
unemployment...
Begin by re-writing the problem. Minitab is required; attach or include your output. Use Word; you may...
Begin by re-writing the problem. Minitab is required;
attach or include your output. Use Word; you may handwrite
equations. You may want to refer to the Minitab handout for Chapter
11, which may be found on Canvas.
Quarterly GPAs are compared for seven randomly chosen students
in each of the four business majors at Catalyst University. Do the
data show a significant difference in mean GPAs? The
data is in the file named GPA1.
GPA for Randomly Selected Students in Four Business...
Use Minitab to answer the questions. Make sure to copy all output from the Minitab: Followings...
Use Minitab to answer the questions. Make sure to copy
all output from the Minitab:
Followings Tables shows previous 11 months stock market
returns.
Date
Monthly
SP500 Return
Monthly DJIA Return
12/7/2007
-0.8628
-0.7994
1/8/2008
-6.1163
-4.6323
2/8/2008
-3.4761
-3.0352
3/8/2008
-0.5960
-0.0285
4/8/2008
4.7547
4.5441
5/8/2008
1.0674
-1.4182
6/8/2008
-8.5962
-10.1937
7/8/2008
-0.9859
0.2468
8/8/2008
1.2191
1.4548
9/8/2008
-9.2054
-6.0024
10/8/2008
-16.8269
-4.8410
1. Let consider we know the variance of monthly return for all
stock were 25 percent...
Use Minitab to answer the questions. Make sure to copy all output from the Minitab: 1. ...
Use Minitab to answer the questions. Make sure to copy
all output from the Minitab:
1. Followings Tables shows previous 11 months stock
market returns.
Date
Monthly
SP500 Return
Monthly DJIA Return
12/7/2007
-0.8628
-0.7994
1/8/2008
-6.1163
-4.6323
2/8/2008
-3.4761
-3.0352
3/8/2008
-0.5960
-0.0285
4/8/2008
4.7547
4.5441
5/8/2008
1.0674
-1.4182
6/8/2008
-8.5962
-10.1937
7/8/2008
-0.9859
0.2468
8/8/2008
1.2191
1.4548
9/8/2008
-9.2054
-6.0024
10/8/2008
-16.8269
-4.8410
Let’s consider the population mean of SP500 as µ1 and that of
DJIA as µ2...
1.) Now use Minitab and attach "Output" for the problem below? A random sample of 59...
1.) Now use Minitab and attach "Output" for the problem
below?
A random sample of 59 students was selected from the PSU student
data base. Each student was asked their Sex and Height (in inches).
Below are the summary results:
Sex
N
Mean
SD
Female
42
66.10
2.58
Male
17
70.12
3.66
a.) Using the summary information, estimate with 99% confidence
the difference in heights between the sexes and interpret these
results. What are the exact degrees of freedom used...
1.) Now use Minitab and attach output for the problem below? A random sample of 59...
1.) Now use Minitab and attach output for the problem
below?
A random sample of 59 students was selected from the PSU student
data base. Each student was asked their Sex and Height (in inches).
Below are the summary results:
Sex
N
Mean
SD
Female
42
66.10
2.58
Male
17
70.12
3.66
Using the summary information, estimate with 99% confidence the
difference in heights between the sexes and interpret these
results. What are the exact degrees of freedom used in...
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