1 / 10

Advanced Math Topics

Advanced Math Topics. Chapter 11 Review. A magazine publisher has determined that the monthly circulation of the magazine depends upon the price charged per issue as shown below:. 10. Find: Σ x = Σ y = Σ x 2 = Σ y 2 = Σ xy = x = n =. 253. 11,065. 18.125. 398. 1.6667. 6.

ciaran-wolf
Download Presentation

Advanced Math Topics

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Advanced Math Topics Chapter 11 Review

  2. A magazine publisher has determined that the monthly circulation of the magazine depends upon the price charged per issue as shown below: 10 Find: Σ x = Σ y = Σ x2 = Σ y2 = Σ xy = x = n = 253 11,065 18.125 398 1.6667 6

  3. 1) Compute the coefficient of correlation for this data. r = -0.9838

  4. 2) Is r significant? The critical r from the back of the book for n = 6 and r0.025 is + or -0.811. The computed R from the last slide is outside the region (closer to 1 or -1), so the correlation coefficient is significant.

  5. 3) Find the least-squares prediction equation. = 69.2143 = -16.2286 y = -16.2286x + 69.2143

  6. 4) If the magazine is priced to sell at $2.25, what is its predicted circulation? y = -16.2286(2.25) + 69.2143 y = 32.7000 which stands for 32,700 newspapers. If this number is used again, use 32.7000.

  7. 5) What is the value of the standard error of the estimate? = 1.7864

  8. 6) At the 5% level of significance, does the data indicate that the price charged per issue can be used as a predictor of its circulation? Find the critical t and calculate t. t0.025 with df = 4. The critical t-value is + or – 2.776. t = 10.9706 Since t is outside the interval, we reject that the slope is 0. Thus, the price is a predictor of circulation.

  9. 7) Find a 95% prediction interval for the circulation, in thousands, for the price per issue of $2.25. 26.8329 to 38.5671 thousand papers.

  10. HW: Complete #1-7 on this Powerpoint on your own(link on School Loop or my webpage to Chapter 11 Review) OR do the following: • P. 593 #5 • r = ?, is r significant? • LSR equation. • Find y when x = 6 • Find se • Can we use prediction line? • Find 95% interval for y when x = 6

More Related