Exercise 2.4. A private organization PQR was interested in estimating the average amount of real estate farm loans (in $000) during 1997in the United States. The organization collected information from 15 states, the real estate (y) and non-real estate (x) farm loans, included in an SRSWOR sample taken from a list of 50 states and observed the following results: n i=1 n = 18867.089, ₁ = 12525.246, i=1 n n n [x² = 48780336.98, y = 18001501.38 and Exy₁ = 2659171056. i=1 i=1 i=1 The average amount of non-real estate farm loans is $878.16 (in $000) for the year 1997 is known. (a)Obtain a ratio estimate for the average amount of the real estate farm loans (in $000) during 1997. Develop an estimator of the mean squared error of the ratio estimator and hence deduce the 95% confidence interval.
Exercise 2.4. A private organization PQR was interested in estimating the average amount of real estate farm loans (in $000) during 1997in the United States. The organization collected information from 15 states, the real estate (y) and non-real estate (x) farm loans, included in an SRSWOR sample taken from a list of 50 states and observed the following results: n i=1 n = 18867.089, ₁ = 12525.246, i=1 n n n [x² = 48780336.98, y = 18001501.38 and Exy₁ = 2659171056. i=1 i=1 i=1 The average amount of non-real estate farm loans is $878.16 (in $000) for the year 1997 is known. (a)Obtain a ratio estimate for the average amount of the real estate farm loans (in $000) during 1997. Develop an estimator of the mean squared error of the ratio estimator and hence deduce the 95% confidence interval.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 13PPS
Related questions
Question
2.4
Transcribed Image Text:Exercise 2.4. A private organization PQR was interested in estimating the average amount of
real estate farm loans (in $000) during 1997in the United States. The organization collected
information from 15 states, the real estate (y) and non-real estate (x) farm loans, included in an
SRSWOR sample taken from a list of 50 states and observed the following results:
12
11
n
Σ x = 18867.089, Σ = 12525.246, x² = 48780336.98, y = 18001501.38 and
i=1
i=1
i=1
11
Σ xixi
= 2659171056.
The average amount of non-real estate farm loans is $878.16 (in $000) for the year 1997 is
known.
2
(a)Obtain a ratio estimate for the average amount of the real estate farm loans (in S000) during
1997. Develop an estimator of the mean squared error of the ratio estimator and hence deduce
the 95% confidence interval.
Transcribed Image Text:(b) Obtain a regression estimate for the average amount of the real estate farm loans
during 1997. Develop an estimator of the mean squared error of the regression esti-
hence deduce the 95% confidence interval.
(c) Comment on the interval estimates.
la with their weekly inco
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 6 steps with 16 images
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill