Find the predicted value of y given x 75. give an, Ask an Expert

Statistics

A store wants to predict net profit as a function of sales for next year. Historical data for 8 years is given in the table below.

Year Sales
(thousands of dollars) Net Profit
1 59 5.0
2 50 8.4
3 51 9.5
4 65 8.6
5 80 1.5
6 85 -2.1
7 95 1.2
8 90 1.8

(a) Make a scatter diagram for the data, using Sales for the independent variable and Net Profit for the dependent variable. Insert the trend line and add the equation and R2 value to the diagram.
(b) Determine the correlation coefficient. Comment on the value of the correlation coefficient.
(c) Find the predicted value of Y given X = 75. Give an interpretation of the predicted value in the context of the problem.
(d) Construct an ANOVA table and attach the summary output.

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M9108188

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

The director of research and development is testing a new

The director of research and development is testing a new drug. She wants to know if there is evidence at the 0.02 level that the drug stays in the system for more than 339 minutes. After performing a hypothesis test, sh ...

In an intro psychology class all 83 students have completed

In an Intro Psychology class, all 83 students have completed an aggression rating scale. The possible ratings range from 1-7 with low scores indicating low aggression. Results showed that the average rating was 4.23 with ...

Q1 what would the best approach to evaluating whether the

Q1. What would the best approach to evaluating whether the extension to the new line be? would an IRR / NPV approach be adequate? Q2. My understanding is that we would take the sales of the extension of the modern line ( ...

Suppose that 1 of the employees of a certain company use

Suppose that 1% of the employees of a certain company use illegal drugs. This company performs random drug tests that return positive results 99% of the time if the person is a drug use. However, it also has a 2% false p ...

The random variable x takes on the values 5 20 30 and 200

The random variable X takes on the values 5, 20, 30, and 200 with probabilites 0.60, 0.30, 0.08, and 0.02 respectively. Use the statistical capacity of your calculator to find the expected value of Xrounded to one place ...

In a pre-election poll a candidate for district attorney

In a pre-election poll, a candidate for district attorney receives 304 of 600 votes. Assuming that the people polled represent a random sample of the voting population, test the claim that a majority of voters support th ...

For a population of individuals that has a standard

For a population of individuals that has a standard deviation of 10, what is the standard error of the mean for samples of size (a) 2, (b) 3, (c) 4, (d) 5, (e) 10, (f) 20, (g) 100?

A forest district has 2 helicopters available for fighting

A forest district has 2 helicopters available for fighting forest fires. Given the following information, what is the probability that no helicopters are available in the event of a fire? P (helicopter 1 functions) = 0.9 ...

If we believe the percent to be 75 how many police officers

If we believe the percent to be 75%, how many police officers must we survey to estimate the proportion of officers who graduated from a police academy if we want to ensure we can be 90% we are within 2% of the true prop ...

Military often provides a form of qualification test for

Military often provides a form of qualification test for people to enter special career fields. Suppose that a large number of people have taken a test for a certain career field. Suppose that the mean of all people taki ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Statistics and Probability Expert