A regression model relating the logValue of a state's annual lobster catch to the number of licensed lobster Dependent variable is: LogValue fishers is shown to the right. Complete parts a and b. R-squared = 20.1% R-squared (adjusted) = 18.6% s = 0.4459 with 55 - 2 = 53 degrees of freedom Variable Coeff Intercept 5.71597 Fishers SE(Coeff) 0.3327 0.0000 P-value 17.2 50.0001 3.71 t-ratio 1.41805e - 4 0.0005 a) The number of licensed lobster fishers has fluctuated over the years between roughly 5000 and 10,000. Recently the number has been just over 7000. But licenses are in demand (and tightly restricted). What does the model predict the value of the catch would be in a year if there were 8500 licensed fishers? (Take care to interpret the coefficient correctly and to compute the inverse of the log transformation.) The model predicts that if there were 8500 licensed fishers, then the value of the catch in a year would be million. (Round to the nearest million as needed.)

A regression model relating the logValue of a state's annual lobster catch to the number of licensed lobster Dependent variable is: LogValue fishers is shown to the right. Complete parts a and b. R-squared = 20.1% R-squared (adjusted) = 18.6% s = 0.4459 with 55 - 2 = 53 degrees of freedom Variable Coeff Intercept 5.71597 Fishers SE(Coeff) 0.3327 0.0000 P-value 17.2 50.0001 3.71 t-ratio 1.41805e - 4 0.0005 a) The number of licensed lobster fishers has fluctuated over the years between roughly 5000 and 10,000. Recently the number has been just over 7000. But licenses are in demand (and tightly restricted). What does the model predict the value of the catch would be in a year if there were 8500 licensed fishers? (Take care to interpret the coefficient correctly and to compute the inverse of the log transformation.) The model predicts that if there were 8500 licensed fishers, then the value of the catch in a year would be million. (Round to the nearest million as needed.)

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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