Statistical Techniques in Business and Economics
Statistical Techniques in Business and Economics
18th Edition
ISBN: 9781260788785
Author: Lind, Douglas
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 13, Problem 55CE

A regression analysis relating the current market value in dollars to the size in square feet of homes in Greene County, Tennessee, follows. The regression equation is: Value = −37,186 + 65.0 Size.

Chapter 13, Problem 55CE, A regression analysis relating the current market value in dollars to the size in square feet of

  1. a. How many homes were in the sample?
  2. b. Compute the standard error of estimate.
  3. c. Compute the coefficient of determination.
  4. d. Compute the correlation coefficient.
  5. e. At the .05 significance level, does the evidence suggest a positive association between the market value of homes and the size of the home in square feet?
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30. An individual who has automobile insurance from a certain company is randomly selected. Let Y be the num- ber of moving violations for which the individual was cited during the last 3 years. The pmf of Y isy      | 1       2      4       8      16p(y) | .05   .10   .35   .40   .10 a.Compute E(Y).b. Suppose an individual with Y violations incurs a surcharge of $100Y^2. Calculate the expected amount of the surcharge.
24. An insurance company offers its policyholders a num- ber of different premium payment options. For a ran- domly selected policyholder, let X = the number of months between successive payments. The cdf of X is as follows: F(x)=0.00  :  x < 10.30  :  1≤x<30.40  :  3≤ x < 40.45  :  4≤ x <60.60  :  6≤ x < 121.00  :  12≤ x a. What is the pmf of X?b. Using just the cdf, compute P(3≤ X ≤6) and P(4≤ X).

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Statistical Techniques in Business and Economics

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