Question

In: Statistics and Probability

3. (3 pt) A certain data scientist is testing his predictor (essentially a tool given historical...

3.

(3 pt) A certain data scientist is testing his predictor (essentially a tool given historical

data and would make predictions using said data) that would make predictions about

Philadelphia’s temperatures. The predictor produces a correct temperature if the

prediction falls within three standard deviations from the target value. Assume that the

expected value of each prediction equals the target value. What is the accuracy of the

predictor if the distribution of measurements is uniform?

Solutions

Expert Solution

Answer:-

Given That:-

A certain data scientist is testing his predictor (essentially a tool given historical

data and would make predictions using said data) that would make predictions about

Philadelphia’s temperatures. The predictor produces a correct temperature if the

prediction falls within three standard deviations from the target value. Assume that the

expected value of each prediction equals the target value.

What is the accuracy of the predictor if the distribution of measurements is uniform?

Let us assume be the random variable which denotes the predictor

Standard deviation =

P(Correct temperature) =

[since from z table]

So the predictor predicts with accuracy of


Related Solutions

The regression line, standard error, and Sxx for the data set are given below. The predictor...
The regression line, standard error, and Sxx for the data set are given below. The predictor value is x=2. Use the information to do parts (a) through (d). Y(hat)=2.00+0.00x Se=2.64575 Sxx= 5 x values: 3,4,1,2 y values: 2,3,4,-1 Part A) Determine a point estimate for the conditional mean of the response variable corresponding to the specified value of the predictor variable. Part B) Find a 90% confidence interval for the response variable corresponding to the specified value of the predictor...
3. Measuring stand-alone risk using realized (historical) data Returns earned over a given time period are...
3. Measuring stand-alone risk using realized (historical) data Returns earned over a given time period are called realized returns. Historical data on realized returns is often used to estimate future results. Analysts across companies use realized stock returns to estimate the risk of a stock. Consider the case of Celestial Crane Cosmetics Inc. (CCC): Five years of realized returns for CCC are given in the following table. Remember: 1. While CCC was started 40 years ago, its common stock has...
3. Go to federalreserve.gov and choose a currency that has historical data under "Country Data." Use...
3. Go to federalreserve.gov and choose a currency that has historical data under "Country Data." Use Excel to chart the direct spot from 1/1/20 to the present (label axes, add a title). Copy and paste the graph into your Word doc. Did your currency appreciate or depreciate against the USD? Does your currency seem to have a lot of volatility? Any other observations? Data below is for South African Rand. I need assistance with questions and creating a chart. 1-Jan-20...
1 point) According to data from the Tobacco Institute Testing Laboratory, a certain brand of cigarette...
1 point) According to data from the Tobacco Institute Testing Laboratory, a certain brand of cigarette contains an average of 1.4 milligrams of nicotine. An advocacy group questions this figure, and commissions an independent test to see if the the mean nicotine content is higher than the industry laboratory claims. The test involved randomly selecting ?=15n=15 cigarettes, measuring the nicotine content (in milligrams) of each cigarette. The data is given below. 1.7,1.6,1.8,2.0,1.4,1.4,1.9,1.6,1.3,1.5,1.2,1.4,1.7,1.2,1.51.7,1.6,1.8,2.0,1.4,1.4,1.9,1.6,1.3,1.5,1.2,1.4,1.7,1.2,1.5 (a) Do the data follow an approximately Normal...
Characteristic Line You are given the following set of data: Historical Rates of Return Year NYSE...
Characteristic Line You are given the following set of data: Historical Rates of Return Year NYSE Stock Y 1 4.0 % 3.5 % 2 14.3 17.7 3 19.0 9.2 4 - 14.7 - 9.0 5 - 26.5 - 12.2 6 37.2 32.1 7 23.8 6.7 8 - 7.2 3.5 9 6.6 13.9 10 20.5 22.7 11 30.6 17.0 Mean = 9.8 % 9.6 % σ = 19.6 % 13.1 % Use a spreadsheet or a calculator with a linear regression...
You are given the following set of data: HISTORICAL RATES OF RETURN Year      NYSE         Stock X...
You are given the following set of data: HISTORICAL RATES OF RETURN Year      NYSE         Stock X 1 - 26.5% - 19.0% 2 37.2    16.0    3 23.8    15.5    4 - 7.2    3.0    5 6.6    9.1    6 20.5    19.4    7 30.6    19.5    The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. Open spreadsheet Use a spreadsheet (or a calculator with a linear regression function) to determine...
You are given the following set of data: HISTORICAL RATES OF RETURN Year      NYSE         Stock X...
You are given the following set of data: HISTORICAL RATES OF RETURN Year      NYSE         Stock X 1 - 26.5% - 10.0% 2 37.2    21.0    3 23.8    18.5    4 - 7.2    2.0    5 6.6    8.9    6 20.5    19.9    7 30.6    18.8    Use a spreadsheet (or a calculator with a linear regression function) to determine Stock X's beta coefficient. Round your answer to two decimal places. Beta = Determine the arithmetic average rates of return for Stock X and the NYSE over...
Characteristic Line and Security Market Line You are given the following set of data: HISTORICAL RATES...
Characteristic Line and Security Market Line You are given the following set of data: HISTORICAL RATES OF RETURN Year      NYSE         Stock X 1 - 26.5% - 17.0% 2 37.2    16.0    3 23.8    14.0    4 - 7.2    5.0    5 6.6    9.9    6 20.5    19.4    7 30.6    17.9    Use a spreadsheet (or a calculator with a linear regression function) to determine Stock X's beta coefficient. Round your answer to two decimal places. Beta = Determine the arithmetic average rates of return for...
Historical data suggest the probability of an earthquake greater than magnitude 3 in Colorado occurring in...
Historical data suggest the probability of an earthquake greater than magnitude 3 in Colorado occurring in any given year is 5%. a. What is the likelihood of having two earthquakes in Colorado greater than magnitude 3 in the coming decade? b. What is the likelihood of having no earthquakes in Colorado greater than magnitude 3 in the coming decade? c. What are some factors which might make this statistical approach inaccurate?
The sales of certain products in three cities are given in the 4 by 3 matrix...
The sales of certain products in three cities are given in the 4 by 3 matrix below. City 1 City 2 City 3 Tablets 61 68 37 Laptop Computers 51 66 39 Cell Phones 58 77 65 Personal DVR 38 76 40 The cost of the items depend if they were sold "Retail" or "Wholesale". The Retail costs were: $182 for tablets, $301 for laptops, $434 for cell phones, and $1,657 for DVRs. The Wholesale costs were: $349 for tablets,...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT