Question

In: Statistics and Probability

The table below shows data collected on the vessel calls for a port in Ghana, from...

The table below shows data collected on the vessel calls for a port in Ghana, from 2007-2016 to study the relationship between the number of Commercial Vessels (C.V.) and Offshore Vessels (O. V.). Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 C. V. (X) 527 486 481 558 623 611 606 543 615 673 O. V. (Y ) 67 129 475 719 1175 1053 758 844 910 928 Assuming a linear regression model E(Y |X = x) = α + β(x − x¯): a. Fit a regression model of the number of offshore vessels on commercial vessels, and give practical interpretation of the regression parameter estimates. [10 Marks] b. Construct a 95% confidence and prediction intervals for the number of offshore vessels corresponding to 742 commercial vessels.

Solutions

Expert Solution

Create a table of all summations as below

n Commerical Vessels (X) Offshore Vessels (Y) X^2 Y^2 XY
1 527 67 277729 4489 35309
2 486 129 236196 16641 62694
3 481 475 231361 225625 228475
4 558 719 311364 516961 401202
5 623 1175 388129 1380625 732025
6 611 1053 373321 1108809 643383
7 606 758 367236 574564 459348
8 543 844 294849 712336 458292
9 615 910 378225 828100 559650
10 673 928 452929 861184 624544
SUM → 5723 7058 3311339 6229334 4204922

Tabulate the values using regression parameters as below on excel

Regression Parameters Commerical Vessels (X) Offshore Vessels (Y) Estimated Values SSE
a -1922.409 527 67 497.7659852 185559.334
b 4.59236236 486 129 309.4791286 32572.71586
481 475 286.5173168 35525.72186
558 719 640.1292183 6220.600207
623 1175 938.6327715 55869.46671
611 1053 883.5244232 28721.97113
606 758 860.5626114 10519.08926
543 844 571.2437829 74395.95394
615 910 901.8938726 65.70930079
673 928 1168.250889 57720.48983
SUM → 487171.0521


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