Gen Combo Ll Statistical Techniques In Business And Economics; Connect Ac
Gen Combo Ll Statistical Techniques In Business And Economics; Connect Ac
17th Edition
ISBN: 9781260149623
Author: Lind
Publisher: MCG
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Chapter 13, Problem 49CE

a.

To determine

Find and interpret the regression equation.

Check whether more bidders tend to increase or decrease the amount of winning bid.

b.

To determine

Find the amount of the winning bid if there were seven bidders.

c.

To determine

Construct a 95% prediction interval for the winning bid when there is 7 bidders on the project.

d.

To determine

Find and interpret the value of coefficient of determination.

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7. [10] Suppose that Xi, i = 1,..., 5, are independent normal random variables, where X1, X2 and X3 have the same distribution N(1, 2) and X4 and X5 have the same distribution N(-1, 1). Let (a) Find V(X5 - X3). 1 = √(x1 + x2) — — (Xx3 + x4 + X5). (b) Find the distribution of Y. (c) Find Cov(X2 - X1, Y). -

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