An agribusiness performed a regression of wheat yield (bushels per acre) using observations on 25 test plots with four predictors (rainfall, fertilizer, soil acidity, hours of sun). The standard error was 1.17 bushels. Find the approximate width of a 95 percent prediction interval for wheat yield, assuming that the predictor values for a test plot are near the means of the sample predictors. Would the quick rule give similar results?
Answer to relevant QuestionsA regression model to predict the price of a condominium for a weekend getaway in a resort community included the following predictor variables: number of nights needed, number of bedrooms, whether the condominium complex ...Observations are taken on sales of a certain mountain bike in 30 sporting goods stores. The regression model was Y = total sales (thousands of dollars), X1 = display floor space (square meters), X2 = competitors' advertising ...Perform the regression and write the estimated regression equation (round off to 3 or 4 significant digits for clarity). Do the coefficient signs agree with your a priori expectations? If you did not already do so, request leverage statistics. Are any observations influential? Explain. A sports enthusiast created an equation to predict Victories (the team's number of victories in the National Basketball Association regular season play) using predictors FGP (team field goal percentage), FTP (team free throw ...
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