The U.S. Bureau of Mines produces data on the price of minerals. Shown here are the average prices per year for several minerals over a decade. Use these data and a stepwise regression procedure to produce a model to predict the average price of gold from the other variables. Comment on the results of theprocess.
Answer to relevant QuestionsThe Shipbuilders Council of America in Washington, D.C., publishes data about private shipyards. Among the variables reported by this organization are the employment figures (per 1000), the number of naval vessels under ...Shown here are the data for y and three predictors, x1, x2, and x3.A stepwise regression procedure has been done on these data; the results are also given. Comment on the outcome of the stepwise analysis in light of thedata.Determine the error for each of the following forecasts. Compute MAD andMSE.The “Economic Report to the President of the United States” included data on the amounts of manufacturers’ new and unfilled orders in millions of dollars. Shown here are the figures for new orders over a 21-year ...Current Construction Reports from the U.S. Census Bureau contain data on new privately owned housing units. Data on new privately owned housing units (1000s) built in the West between 1980 and 2010 follow. Use these ...
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