(a) A random sample of 10 houses in a particular area, each of which is heated with natural gas, is selected and the amount of gas (therms) used during the month of January is determined for each house. The resulting observations are 122, 109, 145, 103, 138, 147, 87, 125, 118, 99. Let u denote the average gas usage during January by all houses in this area. Compute a point estimate of u. therms (b) Suppose there are 24,000 houses in this area that use natural gas for heating. Let r denote the total amount of gas used by all of these houses during January. Estimate T using the data of part (a). therms What estimator did you use in computing your estimate? (c) Use the data in part (a) to estimate p. the proportion of all houses that used at least 100 therms. (d) Give a point estimate of the population median usage (the middle value in the population of all houses) based on the sample of part (a). therms What estimator did you use? O s/x IN IX
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps