Question
In: Statistics and Probability
The following data give the average price received by fishermen for several species of fish in...
The following data give the average price received by fishermen for several species of fish in 2000 and 2010. The price is in cents per pound.
| Fish | Year 2000 Price (x) | Year 2010 Price (y) |
|---|---|---|
| COD | 13.1 | 29.0 |
| FLOUNDER | 15.3 | 28.4 |
| HADDOCK | 25.8 | 71.5 |
| MENHADEN | 1.8 | -3.5 |
| PERCH | 4.9 | 8.2 |
| CHINOOK | 55.4 | 152.8 |
| COHO | 39.3 | 108.6 |
| ALBACORE | 26.7 | 87.3 |
| SOFT SHELLED CLAMS | 47.5 | 147.0 |
| LOBSTERS AMERICAN | 94.7 | 284.8 |
| SEA SCALLOPS | 135.6 | 373.0 |
| SHRIMP | 47.6 | 131.4 |
- Create a regression equation for the data.
ˆy= (Round to 2 decimal places) - What is the correlation coefficient between the 2000 and 2010
prices?
_____(Round to 2 decimal places.) - If a type of fish was 41.3 cents per pound in 2000, how much
would you expect to pay for it in 2010?
_____¢ per lbs (Round to 1 decimal places.)
Solutions
orchestra answered 2 years agoRelated Solutions
The following data give the average price received by fishermen for several species of fish in...
The following data give the average price received by fishermen
for several species of fish in 2000 and 2010. The price is in cents
per pound.
Fish
Year 2000 Price (x)
Year 2010 Price (y)
COD
13.1
129.5
FLOUNDER
15.3
112.2
HADDOCK
25.8
101.5
MENHADEN
1.8
26.3
PERCH
4.9
33.2
CHINOOK
55.4
244.8
COHO
39.3
118.8
ALBACORE
26.7
89.4
SOFT SHELLED CLAMS
47.5
227.5
LOBSTERS AMERICAN
94.7
317.5
SEA SCALLOPS
135.6
397.6
SHRIMP
47.6
198.0
Create a regression equation for...
The following data give the average price received by fishermen for several species of fish in...
The following data
give the average price received by fishermen for several species of
fish in 2000 and 2010. The price is in cents per pound.
Fish
Year 2000 Price
(x)
Year 2010 Price
(y)
COD
13.1
56.0
FLOUNDER
15.3
166.7
HADDOCK
25.8
105.5
MENHADEN
1.8
41.3
PERCH
4.9
104.2
CHINOOK
55.4
236.8
COHO
39.3
135.6
ALBACORE
26.7
84.6
SOFT SHELLED CLAMS
47.5
222.6
LOBSTERS AMERICAN
94.7
374.7
SEA SCALLOPS
135.6
432.6
SHRIMP
47.6
225.4
Create a regression equation for...
The following table shows data on the average number of customers processed by several bank service...
The following table shows data on the average number of
customers processed by several bank service units each day. The
hourly wage rate is $15, the overhead rate is 1.2 times labor cost,
and material cost is $4 per customer.
Unit
Employees
Customers Processed / Day
A
5
38
B
6
46
C
7
61
D
3
33
a. Compute the labor productivity and the multifactor productivity
for each unit. Use an eight-hour day for multifactor
productivity.(Round your "Labor Productivity"...
QUESTION 14 If the price received by a producer is less than average variable cost in...
QUESTION 14
If the price received by a producer is less than average
variable cost in the short run, then the firm
A.
is earning zero economic profits
B.
is earning positive economic profits
C.
should continue to produce in the short run
D.
should shut down immediately
5 points
QUESTION 15
The short-run price elasticity of demand for gasoline in the US
is roughly equal to -0.25, which tells us that
A.
the short-run demand for gasoline is...
The following data give the selling price and square footage of houses that have sold in...
The following data give the selling
price and square footage of houses that have sold in Bend, OR in
the past 6 months.
Selling Price
($)
Square Footage
84,000
1,670
79,000
1,339
91,500
1,712
120,000
1,840
127,500
2,300
132,500
2,234
145,000
2,311
164,000
2,377
155,000
2,736
168,000
2,500
172,500
2,500
174,000
2,479
175,000
2,400
177,500
3,124
184,000
2,500
195,500
4,062
195,000
2,854
Graph the data to see whether a linear equation might describe
the relationship between selling price and the...
The following data represent the inventory figures for 55-gallon fish tanks at an aquarium. 55-Gallon Fish...
The following data represent the inventory figures for 55-gallon
fish tanks at an aquarium. 55-Gallon Fish Tanks Inventory Amount
January 1 Beginning Inventory 48 units @ $38.00 March 12 Purchase
70 units @ $36.50 July 19 Purchase 135 units @ $39.70 September 2
Purchase 85 units @ $41.75 Fish Tanks Available for Sale: Cost of
Tanks Available for Sale: (a) How many fish tanks did the aquarium
have available for sale? fish tanks (b) Calculate the total cost
(in $)...
Isabella gathered data on the average percentage of tips received by waitstaff in 31 restaurants in...
Isabella gathered data on the average percentage of tips
received by waitstaff in 31 restaurants in New York City. She works
through the testing procedure:
H0:μ=14%; Ha:μ≠14%
α=0.1 (significance level)
The test statistic is t0=x¯−μ0sn√=1.489.
The critical values are ±t0.05=±1.697.
Conclude whether to reject or not reject H0. Select two
responses below.
Select all that apply:
Reject H0.
Fail to reject H0.
The test statistic falls within the rejection region.
The test statistic is not in the rejection
region.
The following is average weekly per pound price data for apple pears in the US (from...
The following is average weekly per pound price data for apple
pears in the US (from usda.gov) starting May. Your
employer wants you to determine forecasted average weekly price for
all the weeks starting in May.
Week of (2019 Calendar Year)
Actual ($/lb)
Naïve Previous Period ($/lb)
Moving Average ($/lb)
Weighted Moving Average ($/lb)
Exponential Smoothing ($/lb)
May 6
1.72
May 13
2.43
May 20
2.99
May 27
1.72
June 3
1.59
June 10
3.50
June 17
3.50
June 24...
The following data give the selling price, square footage, number of bedrooms, and age of houses...
The following data give the selling price, square footage,
number of bedrooms, and age of houses that have sold in a
neighborhood in the past 6 months. Develop three regression models
to predict the selling price based upon each of the other factors
individually. Which of these is best? use 1 for yes and 0 for
no
develop a regression model to predict selling price based on the
square footage and number of bedrooms. Use this to predict the
selling...
The following data give the selling price, square footage, number of bedrooms, and age of houses...
The following data give the selling price, square footage,
number of bedrooms, and age of houses that have sold in a
neighborhood in the past 6 months. Develop three regression models
to predict the selling price based upon each of the other factors
individually. Which of these is best?
Selling Price
Square Footage
Bedrooms
Age (Years)
84000
1670
2
30
79000
1339
2
25
91500
1712
3
30
120000
1840
3
40
127500
2300
3
18
132500
2234
3
30...
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