Companies in the shipping industry vary greatly in terms of the sides of the fleet and annual revenue. The following table shows the data for eight smaller companies in the industry: Company Ships (100s) Revenue ($millions) A 13.5 152 B 10.0 135 C 8.0 100 D 5.6 65 E 4.5 40 F 3.3 32 G 6.2 80 H 9.2 120 Please answer the following questions: a. Use the least squares method to develop the estimated regression equation. Please do show your computation steps. b. Panda Inc. has 500 ships in service. Use the estimated regression equation developed in part (a) to predict annual revenue for Panda Inc. c. At α = 0.05, please use t-test to test for the significance of the slope. Please do your computation steps. d. Compute the coefficient of correlation. Please show your computation step

a. Develop the least squares estimated regression equation that relates labor hours to house square footage and type of flooring. b. Use the regression equation developed in part (a) to predict labor hours when the house size is 3350 square feet and the type of flooring is wood.

Explain the concept and use of the method of Least Squares

An article gave data on a measure of pollution (in micrograms of particulate matter per cubic meter of air) and the cost of medical care per person over age 65 for six geographical regions of the United States. Find the equation of the least-squares line describing the relationship between y = medical cost and x = pollution. (Give the answer to two decimal places.) ŷ = Region North eBook Upper South Deep South West South Big Sky West Additional Materials Pollution Cost of Medical 30.0 922 31.8 898 32.1 975 26.8 979 30.4 959 40.0 906

The following data show the number of hurricanes to directly strike a certain country each decade. A major hurricane is one with a strength rating of 3, 4 or 5. Decade 1941 - 1950 1951 – 1960 1961 – 1970 1971 - 1980 1981 - 1990 1991 - 2000 2001 - 2004 Using only completed decades (1941 – 2000), calculate the least squares line for the number of major hurricanes expected based on the total number of hurricanes. (Round your answers to three decimal places.) ý = + X Total Number of Hurricanes Number of Major Hurr 21 11 18 8 13 12 4 15 14 9. 3 %3D

A high school has 44 players on the football team. The summary of the players' weights is given in the box plot. Approximately, what is the percentage of players weighing greater than or equal to 245 pounds? 191 217 245 164 262 - 0o 150 160 170 180 190 200 210 220 230 240 250 260 270 00 Weight unds) Answer E Tables E Keypad Keyboard Shortcuts % Submit Answer © 2022 Hawkes Learning

This table shows the average heights for American boys in 1990.   Age (years) Height (cm) birth 50.8 2 83.8 3 91.4 5 106.6 7 119.3 10 137.1 14 157.5   Decide which variable should be the independent variable and which should be the dependent variable. Draw a scatter plot of the data. Does it appear from inspection that there is a relationship between the variables? Why or why not? Calculate the least-squares line. Put the equation in the form of: ŷ = a + bx Find the correlation coefficient. Is it significant? Find the estimated average height for a one-year-old. Find the estimated average height for an eleven-year-old. Does it appear that a line is the best way to fit the data? Why or why not? Are there any outliers in the data? Use the least squares line to estimate the average height for a sixty-two-year-old man. Do you think that youranswer is reasonable? Why or why not? 10. What is the slope of the least-squares (best-fit) line?…

During oil drilling operations, components of the drilling assembly may suffer from sulfide stress cracking. An article reported on a study in which the composition of a standard grade of steel was analyzed. The following data on y = threshold stress (% SMYS) and x = yield strength (MPa) was read from a graph in the article (which also included the equation of the least squares line). X 634 643 712 709 y S = 100 92 87 83 835 78 (b) Compute the estimated standard deviation s 820 810 75 74 870 63 856 923 878 937 57 55 ΣΥ, = 10,575, ΣΥ, = 892, Σχιζ = 8,739,877, = 8,739,877, Σy? L x = 65,852, ExY, = 701,865 (a) What proportion of observed variation in stress can be attributed to the approximate linear relationship between the two variables? (Round your answer to four decimal places.) (Round your answer to four decimal places.) SB₁ 47 Does it appear that this true average change has been precisely estimated? O This is a fairly wide interval, so has been precisely estimated. 0 O This is a…