Question

In: Statistics and Probability

QUESTION 1: An owner of a home in the Midwest installed solar panels to reduce heating...

QUESTION 1:

An owner of a home in the Midwest installed solar panels to reduce heating costs. After installing the solar panels, he measured the amount of natural gas used yy (in cubic feet) to heat the home and outside temperature xx ( in degree-days, where a day's degree-days are the number of degrees its average temperature falls below 65 oFoF) over a 23-month period. He then computed the least-squares regression line for predicting y from x and found it to be:

yˆ=y^=85 + 14x

The predicted amount of gas used when the outside temperature is 15 degree-days

is about:  cubic feet. (Answer to the nearest cubic foot.)

QUESTION 2:

The toco toucan, the largest member of the toucan family, possesses the largest beak relative to body size of all birds. This exaggerated feature has received various interpretations, such as being a refined adaptation for feeding. However, the large surface area may also be an important mechanism for radiating heat (and hence cooling the bird) as outdoor temperature increases. Here are data for beak heat loss, as a percent of total body heat loss, at various temperatures in degrees Celsius:

Temperature(oC)(oC) 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Percent heat loss from beak 36 36 32 36 33 44 52 51 40 54 44 51 63 56 65 66

The equation of the least-squares regression line for predicting beak heat loss, as a percent of total body heat loss from all sources, from temperature is

yˆ=y^= + x

(Use decimal notation. Give your answer to four decimal places.)

Use the equation to predict (±0.01)(±0.01) beak heat loss, as a percent of total body heat loss from all sources, at a temperature of 25 degrees Celsius.

%

What percent (±0.01)(±0.01) of the variation in beak heat loss is explained by the straight-line relationship with temperature?

%

Find the correlation rr (±± 0.001) between beak heat loss and temperature:

r=

Solutions

Expert Solution

The answers are obtained using R- software. Codes and output are attached below.


Related Solutions

Question 8 You are considering installing solar panels on your roof, which you expect will reduce...
Question 8 You are considering installing solar panels on your roof, which you expect will reduce your utility bill by $1300 in the first year (assume end of year), with the savings growing at a 3.4% annual rate thereafter for the foreseeable future (assume perpetual). If the installation costs $13,000 after all federal and state tax credits and the appropriate discount rate is 13%, what is the NPV of this investment? Round to the nearest cent. Question 9 What is...
A solar collector installed on the roof of a SoCal home is used to heat water...
A solar collector installed on the roof of a SoCal home is used to heat water flowing through ducts attached at the back of the collector. The absorbing surface has an area of 2 m2 with an emissivity of 0.9. The surface temperature of the absorber is 35 °C, and solar radiation is incident on the absorber at 450 W/m2. Temperature of surrounding air is 22 °C. Heat transfer coefficient at the absorber surface is 5 W/m2·K. If water is...
QUESTION 4 (30) 4.1 Lonewolf Ltd is the sole manufacturer and supplier of solar panels in...
QUESTION 4 (30) 4.1 Lonewolf Ltd is the sole manufacturer and supplier of solar panels in the country. As a result of this the CEO claimed in a recent meeting that he can set any price he wishes and sell as many units of his product as he wants at that price. Is this correct? Motivate your answer. (7) 4.2 Explain using properly labelled diagrams, why a perfectly competitive firm will earn only normal profit in the long-run. (16) 4.3...
Outdoor Living Ltd., an owner-managed company, has developed a new type of heating using solar power,...
Outdoor Living Ltd., an owner-managed company, has developed a new type of heating using solar power, and has financed the development stages from its own resources. Market research indicates the possibility of a large volume of demand and a significant amount of additional capital will be needed to finance production. Advise Outdoor Living Ltd. on: (a) the advantages and disadvantages of loan and equity capital (b) the various types of capital likely to be available and the sources from which...
1. Review, in detail, the economics of the private decision to acquire solar panels. a. Explain...
1. Review, in detail, the economics of the private decision to acquire solar panels. a. Explain the private incentive to purchase a solar paneled home as expressed by the inequality: Additional price of house + cost of maintaining panels over their life < savings in electricity bills over life of panels b. Explain the private incentive to install solar panels as expressed by the inequality: Cost of purchasing, installing, maintaining panels over their life - increase in value of house...
Question 1:- Application A solar photovoltaic (PV) power system was installed outdoor near your house. The...
Question 1:- Application A solar photovoltaic (PV) power system was installed outdoor near your house. The objective is to study the environmental effects ( Temp, Humidity, Dust, Wind….) on the PV panels total generated electric power. The environmental data should be acquired and monitored from a remote center in your house ( YOUR TASK IS NOT TO MEASURE PV OUTPUT POWER ) Tasks To design a measurement system to meet the application requirement. Assume the availability of the following six...
Jannsen Limited is contemplating investing in solar panels to reduce its need to purchase electricity from its local hydro company.
Jannsen Limited is contemplating investing in solar panels to reduce its need to purchase electricity from its local hydro company. The panels are estimated to cost $2,000,000 and will have a 15-year useful life with no salvage value. The electricity cost savings are expected to be about $200,000 per year. Management expects there will be some intangible benefits arising from purchasing the solar panels such as increased goodwill among its younger customers who are, on average, environmentally conscious. This could...
Question 2. A family in Eastern Australia installs solar panels to run an air-source heat pump...
Question 2. A family in Eastern Australia installs solar panels to run an air-source heat pump to heat their swimming pool. The panels produce a total of around 6 kW of electricity during the day. The heat pump draws 5 kW of electricity and delivers 23 kW of heating to the pool. a) The pool contains 40,000 litres of water. When the heat pump is running, estimate the rate at which the temperature of the water in the pool rises,...
1. The​ Bar-None Manufacturing Co. manufactures fence panels used in cattle feed lots throughout the Midwest....
1. The​ Bar-None Manufacturing Co. manufactures fence panels used in cattle feed lots throughout the Midwest. ​ Bar-None's management is considering three investment projects for next year but​ doesn't want to make any investment that requires more than three years to recover the​ firm's initial investment. The cash flows for the three projects​ (Project A, Project​ B, and Project​ C) are as​ follows:   0 ​$(900) ​ $(9,800​) ​ $(5,500​) 1     550     4,000   800 2     225     3,500   800 3     180     3,500   ...
Two methods can be used to produce solar panels for electric power generation. Method 1 will...
Two methods can be used to produce solar panels for electric power generation. Method 1 will have an initial cost of $560,000, an AOC of $170,000 per year, and $115,000 salvage value after its 3-year life. Method 2 will cost $870,000 with an AOC of $115,000 and a $170,000 salvage value after its 5-year life. Assume your boss asked you to determine which method is better, but she wants the analysis done over a three-year planning period. You estimate the...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT