In 2011, home prices and mortgage rates fell so far that in a number of cities themonthly cost of owning a home was less expensive than renting. The following datashow the average asking rent and the monthly mortgage on the median-priced home(including taxes and insurance) for 10 cities where the average monthly mortgagepayment was less than the average asking rent (The Wall Street Journal, November26–27, 2011).7.CityRent ($)Mortgage ($)Atlanta84053910621002ChicagoDetroit823626DATA fileJacksonville, Fla.Las Vegas779711796655RentMortgage1071953Miami977MinneapolisOrlando, Fla.776851695762651654PhoenixSt. Louis723Develop a scatter diagram for these data, treating the average asking rent as the inde-pendent variable. Does a simple linear regression model appear to be appropriate?b. Use a simple linear regression model to develop an estimated regression equation topredict the monthly mortgage on the median-priced home given the average askingrent. Construct a standardized residual plot. Based upon the standardized residualplot, does a simple linear regression model appear to be appropriate?Using a second-order model, develop an estimated regression equation to predict themonthly mortgage on the median-priced home given the average asking rent.d. Do you prefer the estimated regression equation developed in part (a) or part (c)?Explain.а.с.

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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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The total sales made by a salesperson was $25,000 after 3 months and $68,000 after 23 months. Predict the total sales after 28 months. O A. $78,750 B. $78,850 O C. $78,720 O D. $78,792
World's Richest. Each year,Forbes magazine publishes alist of the world's richest people. In 2009, the six richest people,their citizenship, and their wealth (to the nearest billion dollars) are as shown in the following table. Consider these five people a population of interest. Wealth ($ billion) Name William Gates III (G) Warren Buffett (B) Carlos Slim Helu (H) Lawrence Ellison (E) Ingvar Kamprad (K) 40 38 35 23 22 a. Find the mean, µ, of the variable. b. For each of the possible sample sizes 2, 3, 4 construct a table and draw a dotplot for the sampling distribution of the sample mean c. Construct a graph and interpret your results.
Find the Fan Cost Index for the New York Giants. Team Ticket Soft Drink Other Drink Hot Dog Parking Hat FCINew York Giants $123.40 $3.00 $9.50 $6.00 $30.00 $24.95
A congressperson wants to come up with a single value to describe the prices of homes in their district. However, their district consists of a few homes that are extremely expensive compared to the others. Which descriptive statistic should they use? a. Range b. Mode c. Median d. Mean
Solve
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Official unemployment rates for the U.S. population are reportedon a monthly basis by the Bureau of Labor Statistics.For the period October, 2011, through January, 2012, theofficial unemployment rates were 8.9% (Oct.), 8.7% (Nov.),8.5% (Dec.), and 8.3% (Jan.). (Source: U.S. Bureau of LaborStatistics, www.bls.gov.) If the unemployment rateswere to continue to decrease following a linear model,(a) predict the unemployment rate on January, 2013.(b) predict when the United States would reach a zero unemploymentrate.
Many countries, especially those in Europe, have significant gold holdings. But many of these countries also have massive debts. The following data show the total value of gold holdings in billions of U.S. dollars and the debt as a percentage of the gross domestic product for nine countries (WordPress and Trading Economics websites, February 24, 2012). Click on the datafile logo to reference the data. Country Gold Value Debt China 63 17.7 France 146 81.7 Germany 203 83.2 Indonesia 33 69.2 Italy 147 119 Netherlands 36 63.7 Russia 50 9.9 Switzerland 62 55 U.S. 487 93.2 Using the entire data set, develop the estimated regression equation that can be used to predict the debt of a country given the total value of its gold holdings. y^ = (to 4 decimals) (to 4 decimals) Gold Value Suppose that after looking at the scatter diagram in part (a) that you were able to visually identify what appears to be an…
Answer the following questions regarding the population of Hamilton County in 2016. a. If you predict the population of Hamilton County in 2016, should you use the average growth rate of 2000-2009 or the average growth rate of 2009-2015? Explain your choice in a complete sentence. b. Predict the population of Hamilton Country in 2016. Show your work. Express your answer in “thousand people” rounded to the nearest whole number.
Construction and building inspectors ensure that construction meets local and national buillding codes and ordinances, zoning regulations, and contract specifications. They spend considerable time inspecting worksites, alone or as part of a team. Most work full time during regular business hours. Many states and local jurisdictions require some type of license or certification. The median annual wage was $56,040 in May 2014. SOURCE: Bureau of Labor and Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2016 - 2017 Edition E, Construction and Building Inspectors A wheelchalir ramp with a length of 614 Inches has a horizontal distance of 610 Inches. What is the ramp's vertical distance (height)? inches State your response to the nearest 0. 1 Construction laws are very specific when it comes to access ramps for the disabled. Every vertical rise of 1 inch requires a horizontal run of at least 12 inches. Does the ramp above satisfy the requirement? O Yes O No
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The Sea Wharf Restaurant would like to determine the best way to allocate a monthly advertising budget of $1,000 between newspaper advertising and radio advertising. Management decided that at least 25% of the budget must be spent on each type of media and that the amount of money spent on local newspaper advertising must be at least two and a half times the amount spent on radio advertising. A marketing consultant developed an index that measures audience exposure per dollar of advertising on a scale from 0 to 100, with higher values implying greater audience exposure. If the value of the index for local newspaper advertising is 50 and the value of the index for spot radio advertising is 80, how should the restaurant allocate its advertising budget to maximize the value of total audience exposure? (a) Formulate a linear programming model that can be used to determine how the restaurant should allocate its advertising budget in order to maximize the value of total audience exposure. If…

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