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Chapter 14: Q. 14.47 (page 570)

In this section, we used the statistic b1as a basis for conducting a hypothesis test to decide whether a regression equation is useful for prediction. Identify two other statistics that can be used as a basis for such a test.

Short Answer

Expert verified

The other two statistics are the coefficient of determination and the correlation coefficient.

Step by step solution

01

Definition

A statistical hypothesis test is a statistical inference method for determining if the data available adequately support a given hypothesis.

02

Explanation

Other statistics that can be utilized as a foundation for such a test include

  • The coefficient of determination r2
  • The correlation coefficientr

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Most popular questions from this chapter

Corvette Prices. The Kelley Blue Book provides information on wholesale and retail prices of cars. Following are age and price data for 10randomly selected Corvettes between 1and 6years old.

Here, xdenotes age, in years, and ydenotes price, in hundreds of dollars.

14.96 Crown-Rump Length. Following are the data on age of fetuses and length of crown-rump from Exercise 14.26.

x
10
10
13
13
18
19
19
23
25
28
y
66
66
108
106
161
166
177
288
235
280

a. Determine a point estimate for the mean crown-rump length of all 19-week-old fetuses.
b. Find a 90% confidence interval for the mean crown-rump length of all 19-week-old fetuses.
c. Find the predicted crown-rump length of a 19-week-old fetus.

d. Determine a 90%prediction interval for the crown-rump length of a 19 -week-old fetus.

The data from Exercise 14.43 for volume, in cubic feet, and diameter at breast height, in inches, for 70 shortleaf pines are on the WeissStats site.


Find a95%prediction interval for the value of the response variable corresponding to the specified value of the predictor variable.

a. Obtain a point estimate for the mean tax efficiency of all mutual fund portfolios with6%of their investments in energy securities.

b. Determine a95%confidence interval for the mean tax efficiency of all mutual fund portfolios with6%of their investments in energy securities.

c. Find the predicted tax efficiency of a mutual fund portfolio with 6%of its investments in energy securities.

d. Determine a 95%prediction interval for the tax efficiency of a mutual fund portfolio with 6%of its investments in energy securities.

In this Exercise 14.53, we repeat the information from Exercise 14.17.

a. Decide, at the 10%significance level, whether the data provide sufficient evidence to conclude that xis useful for predicting y:

b. Find a 90%confidence interval for the slope of the population regression line.

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