The table below shows the average weekly wages (in dollars) for state government employees and federal government employees for 10 years. Construct and interpret a 98% prediction interval for the average weekly wages of federal government employees when the average weekly wages of state government employees is $879. The equation of the regression line is y = 1.631x - 205.266. Wages (state), x Wages (federal), y 756 757 793 822 860 883 914 931 953 958 1,018 1,031 1,097 1,148 1,180 1,251 1,275 1,298 1,336 1,385 Construct and interpret a 98% prediction interval for the average weekly wages of federal government employees when the average weekly wages of state government employees is $879. Select the correct choice below and fill in the answer boxes to complete your choice. (Round to the nearest cent as needed.) O A. We can be 98% confident that when the average weekly wages of state government employees is $879, the average weekly wages of federal government employees will be between S and $ O B. There is a 98% chance that the predicted average weekly wages of federal government employees is between S weekly wage of $879. and S given a state average
Minimization
In mathematics, traditional optimization problems are typically expressed in terms of minimization. When we talk about minimizing or maximizing a function, we refer to the maximum and minimum possible values of that function. This can be expressed in terms of global or local range. The definition of minimization in the thesaurus is the process of reducing something to a small amount, value, or position. Minimization (noun) is an instance of belittling or disparagement.
Maxima and Minima
The extreme points of a function are the maximum and the minimum points of the function. A maximum is attained when the function takes the maximum value and a minimum is attained when the function takes the minimum value.
Derivatives
A derivative means a change. Geometrically it can be represented as a line with some steepness. Imagine climbing a mountain which is very steep and 500 meters high. Is it easier to climb? Definitely not! Suppose walking on the road for 500 meters. Which one would be easier? Walking on the road would be much easier than climbing a mountain.
Concavity
In calculus, concavity is a descriptor of mathematics that tells about the shape of the graph. It is the parameter that helps to estimate the maximum and minimum value of any of the functions and the concave nature using the graphical method. We use the first derivative test and second derivative test to understand the concave behavior of the function.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 6 images
