Question
In: Statistics and Probability
3. The regional transit authority for a major metropolitan area wants to determine whether there is...
3. The regional transit authority for a major metropolitan area wants to determine whether there is any linear relationship between the mileage of a bus and the market resale value of the bus. A very small random sample resulted in the following data:
| Bus Mileage in thousands | Resale value in thousands |
| 5 | 58 |
| 3 | 90 |
| 4 | 85 |
| 2 | 96 |
| 5 | 64 |
| 5 | 57 |
a. Use the method of OLS to compute the slope and intercept of sample linear regression line. You need to decide which one is the dependent variable. In addition, write down the estimated sample regression line. Show all of your computations.
b. Explain the meaning of estimated sample intercept and slope in the context of this problem and in plain English.
c. Use a level of significance of 0.05 to check if the population slope is statistically equal to or different from zero. What is your conclusion? Why? Make sure the null and alternative hypotheses are explained in plain English. Also, show the decision rule and critical points or the p-value.
d. Compute the value of coefficient of determination. Explain what it means in the context of this problem and plain English.
Solutions
orchestra answered 2 years agoRelated Solutions
3. The regional transit authority for a major metropolitan area wants to determine whether there is...
3. The regional transit authority for a major
metropolitan area wants to determine whether there is any linear
relationship between the mileage of a bus and the market resale
value of the bus. A very small random sample resulted in the
following data:
Bus Mileage Resale Value
(In 1000 of Miles)
(In $1000)
5 58
3 90
4 85
2 96
5 64
5 57
a. Use the method of OLS to compute the slope and
intercept of sample linear...
The regional transit authority for a major metropolitan area wants to determine whether there is any...
The regional transit authority for a major metropolitan area
wants to determine whether there is any linear relationship between
the mileage of a bus and the market resale value of the bus. A very
small random sample resulted in the following data:
Bus Mileage
Resale Value
(In 1000 of Miles)
(In $1000)
5
58
3
90
4
85
2
96
5
64
5
57
a. Use the method of OLS to compute the slope and intercept of
the sample linear...
The regional transit authority for a major metropolitan area wants to determine whether there is any...
The regional transit authority for a major metropolitan area
wants to determine whether there is any linear relationship between
the mileage of a bus and the market resale value of the bus. A very
small random sample resulted in the following data:
Bus Mileage
Resale Value
(In 1000 of Miles)
(In $1000)
5
58
3
90
4
85
2
96
5
64
5
57
a. Use the method of OLS to compute the slope and intercept of
the sample linear...
A regional transit company wants to determine whether there is a relationship between the age of...
A regional transit company wants to determine whether there is a
relationship between the age of a bus and the annual maintenance
cost. A sample of 10 buses resulted in the following data:
Age of Bus (years)
Annual Maintenance Cost ($)
1
350
2
370
2
480
2
520
2
590
3
550
4
750
4
800
5
790
5
950
Instructions:
Input the data into an SPSS work sheet making sure that all
your variables are labelled appropriately
Create...
A regional transit company wants to determine whether there is a relationship between the age of...
A regional transit company wants to determine whether there is a
relationship between the age of a bus and the annual maintenance
cost. A sample of 10 buses resulted in the following data:
Age of Bus (years)
Annual Maintenance Cost ($)
1
350
2
370
2
480
2
520
2
590
3
550
4
750
4
800
5
790
5
950
Instructions:
Input the data into an SPSS work sheet making sure that all
your variables are labelled appropriately
Create...
The transit authority wants to increase its bus services. The transit authority would purchase 300 new...
The transit authority wants to increase its bus services. The
transit authority would purchase 300 new energy-efficient buses.
They would replace the 150 buses now in operation, doubling the
size of the transit system. At a unit cost of $800,000 for each
bus, the total expenditure would be $240 million. The projected
salvage value of the old buses is $20,000 per bus, leaving $237
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The transit authority would purchase the buses,...
he commuter trains on the Red Line for the Regional Transit Authority (RTA) in Cleveland, OH,...
he commuter trains on the Red Line for the Regional Transit
Authority (RTA) in Cleveland, OH, have a waiting time during peak
rush hour periods of eight minutes ("2012 annual report," 2012).
a.) Find the height of this uniform distribution. b.) Find the
probability of waiting between four and five minutes. c.) Find the
probability of waiting between three and eight minutes. d.) Find
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The Philadelphia Area Transit Authority wishes to estimate the proportion of central city workers that use public transportation to get to work.
The Philadelphia Area Transit Authority wishes to estimate the proportion of central city workers that use public transportation to get to work. A sample of 100 workers revealed that 64 used public transportation. Develop a 95% confidence interval for the population proportion.
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There are two coal-fired power plants located in the vicinity of
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which causes respiratory issues for the metro population as well as
resulting in acidic rainfall. The EPA has determined
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There are two coal-fired power plants located in the vicinity of
a major metropolitan area. These power plants emit sulphur dioxide,
which causes respiratory issues for the metro population as well as
resulting in acidic rainfall. The EPA has determined that the
amount of sulphur dioxide emitted needs to be reduced by 169 tons.
The marginal abatement cost function for the first power plant is
given by MC(x) = 4x and the marginal abatement cost function for
the second power...
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