Concept explainers
The following problem is reprinted from the November 1989 Actuarial Examination an Applied Statistical Methods. Source: Society of Actuaries.
Consider the following table of data.
x | 1 | 2 | 3 | 4 | 9 |
y | 1 | 2 | 3 | 4 | -20 |
(a) Calculate the least squares line and the
(b) Repeat part (a), but this time delete the last point,
(c) Draw a graph of the data, and use it to explain the dramatic difference between the answers to parts (a) and (b).
Want to see the full answer?
Check out a sample textbook solutionChapter 1 Solutions
Finite Mathematics (11th Edition)
Additional Math Textbook Solutions
Thinking Mathematically (7th Edition)
Algebra and Trigonometry: Graphs and Models (6th Edition)
Introductory Combinatorics
Thinking Mathematically (6th Edition)
Finite Mathematics & Its Applications (12th Edition)
Discrete Mathematics and Its Applications ( 8th International Edition ) ISBN:9781260091991
- For the following table of data. x 1 2 3 4 5 6 7 8 9 10 y 0 0.5 1 2 2.5 3 3 4 4.5 5 a. draw a scatterplot. b. calculate the correlation coefficient. c. calculate the least squares line and graph it on the scatterplot. d. predict the y value when x is 11.arrow_forwardUrban Travel Times Population of cities and driving times are related, as shown in the accompanying table, which shows the 1960 population N, in thousands, for several cities, together with the average time T, in minutes, sent by residents driving to work. City Population N Driving time T Los Angeles 6489 16.8 Pittsburgh 1804 12.6 Washington 1808 14.3 Hutchinson 38 6.1 Nashville 347 10.8 Tallahassee 48 7.3 An analysis of these data, along with data from 17 other cities in the United States and Canada, led to a power model of average driving time as a function of population. a Construct a power model of driving time in minutes as a function of population measured in thousands b Is average driving time in Pittsburgh more or less than would be expected from its population? c If you wish to move to a smaller city to reduce your average driving time to work by 25, how much smaller should the city be?arrow_forward
- Calculus For The Life SciencesCalculusISBN:9780321964038Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.Publisher:Pearson Addison Wesley,Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillLinear Algebra: A Modern IntroductionAlgebraISBN:9781285463247Author:David PoolePublisher:Cengage Learning
- Functions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage LearningBig Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt