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15. What is the mean value of weekly consumption expenditure (Y) and weekly family income (X)? A. 29520 and 260000 B. 57200 and 550.6667 C. 23.3333 and 420 D. 15.3333 and 130

15. What is the mean value of weekly consumption expenditure (Y) and weekly family income (X)? A. 29520 and 260000 B. 57200 and 550.6667 C. 23.3333 and 420 D. 15.3333 and 130

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter12: Probability
Section12.3: Conditional Probability; Independent Events; Bayes' Theorem
Problem 81E
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4 Answer Question 15-26 based on the information below: Table 1 gives data on weekly consumption expenditure (Y - in dollars) and weekly family income (X - in dollars). 15. 16. CONFIDENTIAL 17. 18. 19. 20. 21. 23. 24. A. 29520 and 260000 B. 57200 and 550.6667 C. 23.3333 and 420 D. 15.3333 and 130 26. What is the mean value of weekly consumption expenditure (Y) and weekly family income (X)? A. 0.0979 B. 0.2415 C. 2.6061 D. 4.6515 A. 0.0979 B. 0.2415 C. 2.6061 D. 4.6515 Y 4 7 8 10 13 What is the value of Ex² and Ey², given that x₁ = X₁ X while y₁=Y-Y? A. 29520 and 260000 B. 57200 and 550.6667 C. 23.3333 and 420 D. 15.3333 and 130 What is the value of Y and Σe, given that Y₁ = b₁ + b₂X, while e = Y₁-₁? A. 184 and 0 B. 184 and 2.4149 C. 15.3333 and 0 D. 15.3333 and 2.4149 A. 16.3124 B. 18.2704 15 17 Based on the method of Ordinary Least Squares (OLS), what is the value of intercept (b₁)? 18 20 22 24 26 A. 0.0021 B. 0.0915 C. 0.2415 D. 0.3025 Based on the method of Ordinary Least Squares (OLS), what is the value of slope coefficient (b₂)? CONFIDENTIAL 3/10 B. 0.0915 C. 0.2415 D. 0.3025 X 20 40 60 80 100 120 140 160 180 200 220 240 What is the predicted value of weekly consumption expenditure (1) when weekly family income (X) is $200? C. 20.2284 D. 22.1865 What is the variance for the intercept (o,)? A. 0.0979 and 2.2280 B. 2.6061 and 2.2280 C. 8.6166 and 2.2280 D. 47.6474 and 2.2280 What is the standard error for the slope coefficient (o)? A. 0.0021 4/10 BT22203 What is the estimated variance (82) and standard error (a) of the residual? A. 0.0021 and 0.4914 B. 0.0915 and 7.1322 C. 0.2415 and 0.4914 D. 0.3025 and 7.1322 25. Based on two-tail test of significance, what is the value of t-statistics and t-critical for b₂ at 5 percent significance level? BT22203 A. Yes, because absolute value of t-statistics is larger than t-critical B. Yes, because absolute value of t-statistics is smaller than t-critical At 5 percent significance level, does weekly family income (X) is statistically significant in explaining the movement of weekly consumption expenditure (Y). C. No, because absolute value of t-statistics is larger than t-critical D. No, because absolute value of t-statistics is smaller than t-critical
Transcribed Image Text:4 Answer Question 15-26 based on the information below: Table 1 gives data on weekly consumption expenditure (Y - in dollars) and weekly family income (X - in dollars). 15. 16. CONFIDENTIAL 17. 18. 19. 20. 21. 23. 24. A. 29520 and 260000 B. 57200 and 550.6667 C. 23.3333 and 420 D. 15.3333 and 130 26. What is the mean value of weekly consumption expenditure (Y) and weekly family income (X)? A. 0.0979 B. 0.2415 C. 2.6061 D. 4.6515 A. 0.0979 B. 0.2415 C. 2.6061 D. 4.6515 Y 4 7 8 10 13 What is the value of Ex² and Ey², given that x₁ = X₁ X while y₁=Y-Y? A. 29520 and 260000 B. 57200 and 550.6667 C. 23.3333 and 420 D. 15.3333 and 130 What is the value of Y and Σe, given that Y₁ = b₁ + b₂X, while e = Y₁-₁? A. 184 and 0 B. 184 and 2.4149 C. 15.3333 and 0 D. 15.3333 and 2.4149 A. 16.3124 B. 18.2704 15 17 Based on the method of Ordinary Least Squares (OLS), what is the value of intercept (b₁)? 18 20 22 24 26 A. 0.0021 B. 0.0915 C. 0.2415 D. 0.3025 Based on the method of Ordinary Least Squares (OLS), what is the value of slope coefficient (b₂)? CONFIDENTIAL 3/10 B. 0.0915 C. 0.2415 D. 0.3025 X 20 40 60 80 100 120 140 160 180 200 220 240 What is the predicted value of weekly consumption expenditure (1) when weekly family income (X) is $200? C. 20.2284 D. 22.1865 What is the variance for the intercept (o,)? A. 0.0979 and 2.2280 B. 2.6061 and 2.2280 C. 8.6166 and 2.2280 D. 47.6474 and 2.2280 What is the standard error for the slope coefficient (o)? A. 0.0021 4/10 BT22203 What is the estimated variance (82) and standard error (a) of the residual? A. 0.0021 and 0.4914 B. 0.0915 and 7.1322 C. 0.2415 and 0.4914 D. 0.3025 and 7.1322 25. Based on two-tail test of significance, what is the value of t-statistics and t-critical for b₂ at 5 percent significance level? BT22203 A. Yes, because absolute value of t-statistics is larger than t-critical B. Yes, because absolute value of t-statistics is smaller than t-critical At 5 percent significance level, does weekly family income (X) is statistically significant in explaining the movement of weekly consumption expenditure (Y). C. No, because absolute value of t-statistics is larger than t-critical D. No, because absolute value of t-statistics is smaller than t-critical
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