Question

In: Statistics and Probability

Consider the following data : 1.5, 1.5, 1.7, 1.7, 2.1, 2.3 a) If you were to...

Consider the following data : 1.5, 1.5, 1.7, 1.7, 2.1, 2.3

a) If you were to construct a normal probability plot by hand for the above data, what are the numerical values (in order) of the first five numbers that would go on the x-axis? Separate your answers with a comma

b) If you were to construct a normal probability plot by hand for the above data, what are the numerical values (in order) of the first five numbers that would go on the y-axis? Separate your answers with a comma.

Solutions

Expert Solution

Steps for constructing normal probability plot by hand:

  • Arrange your x-values in ascending order.
  • Calculate fi = (i-0.375)/ (n+0.25), where i is the position of the data value in the
    ordered list and n is the number of observations.
  • Find the z-score for each fi
  • Plot your x-values on the horizontal axis and the corresponding z-score
    on the vertical axis.

a)

The numerical values (in order) of the first five numbers that would go on the x-axis are 1.5, 1.5, 1.7, 1.7, 2.1.

( which are arrange in ascending order )

b)

Calculate  

where

i = position of the data value

n = number of observation

And find the value of Z from Z-score table corresponding to the probability( area) f i

position(i) X i f i Z i
1 1.5 0.10 -1.28
2 1.5 0.26 -0.64
3 1.7 0.42 -0.20
4 1.7 0.58 0.20
5 2.1 0.74 0.64
6 2.3 0.90 1.28

Here, Z i is the value that would go on the Y-axis

Therefore,  the first five numbers that would go on the y-axis are -1.28, -0.64, -0.20, 0.20 and 0.64.


Related Solutions

You have estimated spot rates as follows: r1= 1.5%,  r2= 1.8%,  r3= 2.1%,  r4= 2.3%,  r5= 3.5%, r6= 4.5%. Calculate...
You have estimated spot rates as follows: r1= 1.5%,  r2= 1.8%,  r3= 2.1%,  r4= 2.3%,  r5= 3.5%, r6= 4.5%. Calculate the price of bond with an annual coupon rate of 4.5% and six years to maturity. Face value of the bond is $1000. $1011.5 $1050.5 $1000 $1032.5 $1025.5
2016 1.4 1.0 0.9 1.1 1.0 1.0 0.8 1.1 1.5 1.6 1.7 2.1 1.3 2017 2.5...
2016 1.4 1.0 0.9 1.1 1.0 1.0 0.8 1.1 1.5 1.6 1.7 2.1 1.3 2017 2.5 2.7 2.4 2.2 1.9 1.6 1.7 1.9 2.2 2.0 2.2 2.1 2.1 2018 2.1 2.2 2.4 2.5 2.8 2.9 2.9 2.7 2.3 2.5 2.2 1.9 2.4 2019 1.6 1.5 1.9 2.0 1.8 find the inflation data for the last 3 years: 1. What are your thoughts about the current state of the economy in terms of the historical inflation data for the last 3...
Invoices Time 103 1.5 173 2.0 149 2.1 193 2.5 169 2.5 29 0.5 188 2.3...
Invoices Time 103 1.5 173 2.0 149 2.1 193 2.5 169 2.5 29 0.5 188 2.3 19 0.3 201 2.7 58 1.0 110 1.5 83 1.2 60 0.8 25 0.4 60 1.8 190 2.9 233 3.4 289 4.1 45 1.2 70 1.8 241 3.8 163 2.8 120 2.5 201 3.3 135 2.0 80 1.7 77 1.7 222 3.1 181 2.8 30 1.0 61 1.9 120 2.6 You are an accountant for a large department store and have been given the...
Consider the following term structure: Term Yield 1 1.5% 2 2.3% 3 3.5% 4 3.7% Compute...
Consider the following term structure: Term Yield 1 1.5% 2 2.3% 3 3.5% 4 3.7% Compute the implied forward rate on a one-year security 1 year from now and 2 years from now. What is the economic interpretation of these rates according to the pure expectations theory? …according to the liquidity preference (modified expectations) theory? Suppose that you believe that the actual future one-year rates will be greater than the implied forward rates. How would you alter your desired borrowing...
    2.1) What is the kernel mode?     2.2) What is the user mode?     2.3)...
    2.1) What is the kernel mode?     2.2) What is the user mode?     2.3) Which mode has more different instructions?     2.4) Why do we need these two modes in designing an operating system?
2.1 What is the difference between a performance measure and a utility function? 2.3 Choose a...
2.1 What is the difference between a performance measure and a utility function? 2.3 Choose a domain that you are familiar with, and write a PAGE description of an agent for the environment. Characterize the environment as being accessible, deterministic, episodic, static, and continuous or not. What agent architecture is best for this domain? 2.4 While driving, which is the best policy? a. Always put your directional blinker on before turning, b. Never use your blinker, c. Look in your...
Group 1: 4.2, 4.2, 3.4 Group 2: 4.5, 2.1, 2.3 Group 3: 1.2, 0.3, -0.3, 2.3...
Group 1: 4.2, 4.2, 3.4 Group 2: 4.5, 2.1, 2.3 Group 3: 1.2, 0.3, -0.3, 2.3 Use the Bonferronni method to test each of the 3 possible hypotheses at the 3% significance level. (a) Find the value of the test statistic for each of the 3 possible hypotheses. (b) Which pairs of means are significantly different (using the Bonferronni method at the 3% significance level?
Assume that the real risk free rate is constant at 1.5 %. The yield is 2.3%...
Assume that the real risk free rate is constant at 1.5 %. The yield is 2.3% on 1-year treasury, 3.0% on 2-year treasury, 3.5% on 3-year treasury, and 5.0% on 5-year treasury securities. What is the expected rate on three year treasury securities, 2 years from now? What is the expected rate on 3year treasury securities, 2 years from now? Show all the work with formula
Suppose the real risk-free rate is 2.3%, the average future inflation rate is 2.1%, and a...
Suppose the real risk-free rate is 2.3%, the average future inflation rate is 2.1%, and a maturity premium of 0.05% per year to maturity applies, i.e., MRP = 0.05%(t), where t is the years to maturity. What rate of return would you expect on a 5-year Treasury security, assuming the pure expectations theory is NOT valid? Group of answer choices 4.65% 4.30% 5.35% 5.00% 5.70% Your portfolio consists of $31,232 invested in a stock that has a beta = 1.9,...
A steam boiler of volume 2.3 m3 initially contained 1.7 m3 liquid water in equilibrium with...
A steam boiler of volume 2.3 m3 initially contained 1.7 m3 liquid water in equilibrium with 0.6 m3 of vapour at 100 kPa. The boiler is heated keeping the inlet and discharge valves closed. The relief valve is set to lift when the pressure in the boiler reaches 5500 kPa. Determine the amount of heat supplied to the contents in the boiler before the relief valve lifts.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT