Use the method of least squares to fit a straight line trend and estimate the number of salesmen in 1985.
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- Fit a straight line trend by the method of least squares for the following consumer price index numbers of the industrial workers. Year 2010 2011 2012 2013 2014 Index number 166 177 198 221 225A world wide fast food chain decided to carry out an experiment to assess the influence of income on number of visits to their restaurants or vice versa. A sample of households was asked about the number of times they visit a fast food restaurant (X) during last month as well as their monthly income (Y). The data presented in the following table are the sums and sum of squares. (use 2 digits after decimal point) ∑ Y = 393 ∑ Y2 = 21027 ∑ ( Y-Ybar )2 = SSY = 1720.88 ∑ X = 324 ∑ X2 = 14272 ∑ ( X-Xbar )2 = SSX = 1150 nx=8 ny=11 ∑ [ ( X-Xbar )( Y-Ybar) ] =SSXY=1090.5 PART A Sample mean income is Answer Sample standard deviation of income is Answer 90% confidence interval for the population mean income (hint: assume that income distributed normally with mean μ and variance σ2) is [Answer±Answer*Answer] 90% confidence interval for the population variance of income (hint: assume that income distributed normally with mean μ and variance σ2) is…Table 7 gives the number of visitors per year at YosemiteNational Park.(a) Find the least-squares line for these data.(b) Estimate the number of visitors in 2017.
- The percentage of adults in the labor force ages 65 and older who are still working has risen since 1990. The table below shows the data from 1990 to 2007. Let x represent the number of years after 1990. (a) Use the method of least squares to find the best line that fits these data. (b) Estimate the percent for the year 1991. (c) If the trend determined by the straight line in part (a) continues, when will the percent reach 16.8? Year 1990 1995 2000 2005 2007 % of Labor Force 11.4 12.1 13.3 13.9 15.1 (a) The line is y = X+ (Type an expression using x as the variable. Use integers or decimals for any numbers in the expression. Round to the nearest thousandth as needed.) (b) In the year 1991, the labor ce is predicted to 65 years old and older. (Use the answer from part a to find this answer. Round to the nearest tenth as needed.) (c) The percent will reach 16.8 in the year (Use the answer from part a to find this answer. Round to the nearest year as needed.)The percentage of adults in the labor force ages 65 and older who are still working has risen since 1990. The table below shows the data from 1990 to 2007. Let x represent the number of years after 1990. (a) Use the method of least squares to find the best line that fits these data. (b) Estimate the percent for the year 1991. (c) If the trend determined by the straight line in part (a) continues, when will the percent reach 16.8? Year 1990 1995 2000 2005 2007 % of Labor Force 11.4 12.1 13.3 13.9 15.1 (a) The line is y = x+ %3D (Type an expression using x as the variable. Use integers or decimals for any numbers in the expression. Round to the nearest thousandth as needed.) (b) In the year 19 the labor force is predicted to be 65 years old and older. (Use the answer from part a to find this answer. Round to the nearest tenth as needed.) (c) The percent will reach 16.8 in the year (Use the answer from part a to find this answer. Round to the nearest year as needed.)The percentage of adults in the labor force ages 65 and older who are still working has risen since 1990. The table below shows the data from 1990 to 2007. Let x represent the number of years after 1990. (a) Use the method of least squares to find the best line that fits these data. (b) Estimate the percent for the year 1992. (c) If the trend determined by the straight line in part (a) continues, when will the percent reach 17.1? Year 1990 1995 2000 2005 2007 % of Labor Force 11 11.8 12.4 13.8 14.5 (a) The line is y= x+. %3D (Type an expression using x as the variable. Use integers or decimals for any numbers in the expression. Round to the nearest thousandth as needed.)
- Suppose a special type of small data processing firm is so specialized that some have difficulty making a profit in their first year of operation. what is the value of k?7) An accountant wishes to predict direct labor cost (y) on the basis of the batch size (x) of a product produced in a job shop. Using data for 12 production runs, the least squares line has an intercept of 18.488 and a slope of 10.146. Please interpret the meanings of the intercept and the slope in this context. Do you think that the interpretation of the intercept does make practical sense?Suppose a car's city miles per gallon rating can be determined by the car's weight. The means and standard deviations of these variables and the correlation coefficient between them are reported in the following table. Determine the coefficients of the least squares line for predicting a car's miles per gallon rating from its weight. Report the equation of this line. 2 decimals for "a" and 5 decimals for "b"
- 9. Fit a straight line trend by the method of least squares. Year: 1990 1991 1992 1993 1994 1995 Production: 70 72 88 80 90 92 (000's tons)what is the least squares mean ADG for Hereford15. Fit a straight line trend by the method of least squares. Year: 1987 1988 1989 1990 1991 1992 1993 1994 1995 Death: 175 190 185 195 180 200 185 190 205 Estimate the number of death for year 2002. CS Scanned with CamScanner
