Problem 6. Our next attempt is a simple linear regression model using Income (in thousands of dollars)as the only predictor. Use the Parameter Estimates table (below) to answer all parts.Parameter EstimatesVariablet ValuePr >Parameter EstimateStandard Error655.64111.967654.7847(Intercept)1.81476e-771.811230.1881489.626605.46340e-16IncomeA.Write the equation used by this model to predict median school API from Income.t] Name three plots that we should look at to determine whether model assumptions are met.Construct (don't interpret) a 95% confidence interval for the population slope of the modelPredict the median school API for a neighborhood in which the median income is $40,000.D.E.With a margin of error 92.20867 and given these values and your answer to part D,construct and interpret a 90% prediction interval for the median school API in a neighborhoodwhose median income is $40,000

Question
Asked May 7, 2019

questions d and e

Problem 6. Our next attempt is a simple linear regression model using Income (in thousands of dollars)
as the only predictor. Use the Parameter Estimates table (below) to answer all parts.
Parameter Estimates
Variable
t Value
Pr >
Parameter Estimate
Standard Error
655.641
11.9676
54.7847
(Intercept)
1.81476e-77
1.81123
0.188148
9.62660
5.46340e-16
Income
A.
Write the equation used by this model to predict median school API from Income.
t] Name three plots that we should look at to determine whether model assumptions are met.
Construct (don't interpret) a 95% confidence interval for the population slope of the model
Predict the median school API for a neighborhood in which the median income is $40,000.
D.
E.With a margin of error 92.20867 and given these values and your answer to part D,
construct and interpret a 90% prediction interval for the median school API in a neighborhood
whose median income is $40,000
help_outline

Image Transcriptionclose

Problem 6. Our next attempt is a simple linear regression model using Income (in thousands of dollars) as the only predictor. Use the Parameter Estimates table (below) to answer all parts. Parameter Estimates Variable t Value Pr > Parameter Estimate Standard Error 655.641 11.9676 54.7847 (Intercept) 1.81476e-77 1.81123 0.188148 9.62660 5.46340e-16 Income A. Write the equation used by this model to predict median school API from Income. t] Name three plots that we should look at to determine whether model assumptions are met. Construct (don't interpret) a 95% confidence interval for the population slope of the model Predict the median school API for a neighborhood in which the median income is $40,000. D. E.With a margin of error 92.20867 and given these values and your answer to part D, construct and interpret a 90% prediction interval for the median school API in a neighborhood whose median income is $40,000

fullscreen
check_circle

Expert Answer

Step 1

Part D:

The aim is to predict the median school API for a neighbourhood in which the median income is $40,000.

Step 2

Denote y as the response variable, median school API and x as the predictor, income. In the given output, the column “Parameter Estimate” gives the coefficient corresponding to the variable under the “Variable” column.

The ‘estimate’ of “Intercept” is the intercept of the regression model, which is 655.641. The coefficient of “Income” is the slope, which is given as 1.81123. Using these values, the equation for predicting y using x is: y = 655.641 + 1.81123 x.

Here, x = 40 (in thousand dollars)

fullscreen
Step 3

Part E:

The aim is to find the 90% prediction interval for the median school API for a neighbourhood in whose median income is $40,000.

We assume that the margin of error, E of 92.20867 ...

fullscreen

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in

Math

Statistics

Related Statistics Q&A

Find answers to questions asked by student like you

Show more Q&A add
question_answer

Q: Total blood volume (in ml) per body weight (in kg) is important in medical research. For healthy adu...

A: The provided information are:

question_answer

Q: A simple random sample of n=23 professors at a local community college have a mean course evaluation...

A: Solution:Null and alternative hypotheses:Null hypothesis: µ = 4Alternative hypothesis: µ ≠ 4Test sta...

question_answer

Q: In a fishing logde brochure, the lodge advertises that 75% of its guest catch northern pike over 20 ...

A: The provided information are:

question_answer

Q: The numbers of faculty at 32 randomly selected state-controlled colleges and universities with enrol...

A: Confidence interval:The (1-α) % confidence interval for population mean µ, when σ is known is given ...

question_answer

Q: Is there a difference in the weights of contents in a can of Diet Coke versus a regular can of Coke?...

A: Solution:Null and alternative hypotheses:Null hypothesis: µ1−µ2 = 0Alternative hypothesis: µ1−µ2 ≠ 0...

question_answer

Q: Find the standard deviation, s, of sample data summarized in the frequency distribution table given ...

A: Using the provided formula, the sample standard deviation of the provided frequency distribution is ...

question_answer

Q: After you determine the mean annual return, how do you find the standard deviation?

A: Click to see the answer

question_answer

Q: Leah Peschel is the bottling department manager for a bottling company that produces various soft dr...

A: GivenNull hypothesis H0:  µ1 = µ2Alternative hypothesis Ha :  µ1 ≠ µ2Sample mean number of cola bott...

question_answer

Q: Q5. You are considering two investment choices: a. 1 year CD that pays 2% for sure; b. investing in ...

A: Portfolio Mean and SDI am answering all the sub-partsQ5. You are considering two investment choices:...