The income of farmers depends on various factors. To predict the income of the next year, a study was undertaken and data was gathered considering as many as possible factors that might influence the yearly income. Regression methods are used to create such a prediction function, that is, we want to predict the profit for the next year. The following were determined. X₁ SIZE - farm size recorded x 1000 hectares X₂ = AGE - how long the farm has been in operation in years X3 = RATIO- the ratio of land size to field size recorded as 0.5, 0.75, 0.8 and 0.9 X4 = METHOD - rotational and non rotational method of planting Ŷ = INCOME - the income per year recorded in x R 1 000 000.00 The partial dataset is as follows INCOME Y 1.3 2.4 3.2 1.5 2.1 a. J Standardized Residual Sample Quantiles 10- 08-> 06- 04- 02- SIZE X₁ 00- 5 8 2 1.2 1.5 Predicted S AGE X₂ Theoretical Quantiles 20 100 80 50 11 1.1. The analyst did some exploratory analysis and below are some of the residual plots he constructed. Study the plots and answer the questions that follows. b. RATIO X3 Standardized Residual 0.5 0.75 0.8 0.8 0.75 METHOD X4 Predicted Rotational Rotational Non-rotational Rotational Non-rotational
The income of farmers depends on various factors. To predict the income of the next year, a study was undertaken and data was gathered considering as many as possible factors that might influence the yearly income. Regression methods are used to create such a prediction function, that is, we want to predict the profit for the next year. The following were determined. X₁ SIZE - farm size recorded x 1000 hectares X₂ = AGE - how long the farm has been in operation in years X3 = RATIO- the ratio of land size to field size recorded as 0.5, 0.75, 0.8 and 0.9 X4 = METHOD - rotational and non rotational method of planting Ŷ = INCOME - the income per year recorded in x R 1 000 000.00 The partial dataset is as follows INCOME Y 1.3 2.4 3.2 1.5 2.1 a. J Standardized Residual Sample Quantiles 10- 08-> 06- 04- 02- SIZE X₁ 00- 5 8 2 1.2 1.5 Predicted S AGE X₂ Theoretical Quantiles 20 100 80 50 11 1.1. The analyst did some exploratory analysis and below are some of the residual plots he constructed. Study the plots and answer the questions that follows. b. RATIO X3 Standardized Residual 0.5 0.75 0.8 0.8 0.75 METHOD X4 Predicted Rotational Rotational Non-rotational Rotational Non-rotational
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter3: Straight Lines And Linear Functions
Section3.CR: Chapter Review Exercises
Problem 15CR: Life Expectancy The following table shows the average life expectancy, in years, of a child born in...
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