In Exercises, use the technology of your choice to do the following tasks.a. Decide whether you can reasonably apply the conditional mean and predicted value t-interval procedures to the data. If so, then also do parts (b)–(f).b. Determine and interpret a point estimate for the conditional mean of the response variable corresponding to the specified value of the predictor variable.c. Find and interpret a 95% confidence interval for the conditional mean of the response variable corresponding to the specified value of the predictor variable.d. Determine and interpret the predicted value of the response variable corresponding to the specified value of the predictor variable.c. Find and interpret a 95% prediction interval for the value of the response variable corresponding to the specified value of the predictor variable.d. Determine and interpret the predicted value of the response variable corresponding to the specified value of the predictor variable.e. Find and interpret a 95% prediction interval for the value of the response variable corresponding to the specified value of the predictor variable.f. Compare and discuss the differences between the confidence interval that you obtained in part (c) and the prediction interval that you obtained in part (e).U.S. Presidents. The data from Exercise for the ages at inauguration and of death of the presidents of the United States are on theWeissStats site. Specified value of the predictor variable: 53 years.ExerciseWorking with Large Data SetsIn Exercises, use the technology of your choice toa. obtain and interpret the standard error of the estimate.b. obtain a residual plot and a normal probability plot of the residuals.c. decide whether you can reasonably consider Assumptions 1–3 for regression inferences met by the two variables under consideration.U.S. Presidents. The Information Please Almanac provides data on the ages at inauguration and of death for the presidents of the United States.We give those data on theWeissStats site for those presidents who are not still living at the time of this writing.
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.
In Exercises, use the technology of your choice to do the following tasks.
a. Decide whether you can reasonably apply the conditional mean and predicted value t-interval procedures to the data. If so, then also do parts (b)–(f).
b. Determine and interpret a point estimate for the conditional mean of the response variable corresponding to the specified value of the predictor variable.
c. Find and interpret a 95% confidence interval for the conditional mean of the response variable corresponding to the specified value of the predictor variable.
d. Determine and interpret the predicted value of the response variable corresponding to the specified value of the predictor variable.
c. Find and interpret a 95% prediction interval for the value of the response variable corresponding to the specified value of the predictor variable.
d. Determine and interpret the predicted value of the response variable corresponding to the specified value of the predictor variable.
e. Find and interpret a 95% prediction interval for the value of the response variable corresponding to the specified value of the predictor variable.
f. Compare and discuss the differences between the confidence interval that you obtained in part (c) and the prediction interval that you obtained in part (e).
U.S. Presidents. The data from Exercise for the ages at inauguration and of death of the presidents of the United States are on theWeissStats site. Specified value of the predictor variable: 53 years.
Exercise
Working with Large Data Sets
In Exercises, use the technology of your choice to
a. obtain and interpret the standard error of the estimate.
b. obtain a residual plot and a normal probability plot of the residuals.
c. decide whether you can reasonably consider Assumptions 1–3 for regression inferences met by the two variables under consideration.
U.S. Presidents. The Information Please Almanac provides data on the ages at inauguration and of death for the presidents of the United States.We give those data on theWeissStats site for those presidents who are not still living at the time of this writing.
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