MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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- An economic organization tracks summary statistics of various countries. These include GDP (gross domestic product per capita) and trade balances (measured as a percentage of GDP). Exporting countries tend to have large positive trade balances. Importers have negative balances. The data are shown in the accompanying table. Formulate the SRM with GDP as the response and Trade Balance as the explanatory variable. Complete parts (a) through (c) below. Click the icon to view the data table. (a) Country X reported the highest positive balance of trade, 24.2% of GDP and per capita GDP equal to $63,000. Fit the least squares equation both with and without country X and compare the results. Does the fitted slope change by very much? Find the least squares equation without country X. Complete the equation below. Estimated GDP ($ per cap) = ☐ ☐ Trade Bal (%GDP) (Round to the nearest integer as needed.) Data Table - X Trade Balance (%GDP) GDP ($ per capita) -6.3 16,876 15.7 44,932 -0.9 9,334 -7.9…arrow_forward1. Provide an example of a data set whose histogram you would expect to be skewed to the left. Explain why you would expect the histogram to be skewed left. 2. A report on US annual income states both the mean and the median. Which measure of center do you think is larger, the mean or the median? Which would better represent US annual income? Explain.arrow_forwardWhat type of data (categorical, discrete numerical, continuous numerical) is each of the following variables? If there is any ambiguity about the data type, explain why the answer is unclear. Your college program. The number of college credits you have earned. Length of a TV commercial. The country with the most 2021 Olympic medalsarrow_forward
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