# 420Exam1Bans - STAT 420 Fall 2008 Version B Name ANSWERS...

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STAT 420 Fall 2008 Version B Name ANSWERS . Exam 1 Page Possible Earned 1 5 2 11 3 10 4 9 5 10 6 7 7 12 8 6 9 10 Total 80 Be sure to show all your work; your partial credit might depend on it. No credit will be given without supporting work. The exam is closed book and closed notes. You are allowed to use a calculator and one 8½" x 11" sheet with notes on it. ___________________________________________________________________________ Academic Integrity The University statement on your obligation to maintain academic integrity is: If you engage in an act of academic dishonesty, you become liable to severe disciplinary action. Such acts include cheating; falsification or invention of information or citation in an academic endeavor; helping or attempting to help others commit academic infractions; plagiarism; offering bribes, favors, or threats; academic interference; computer related infractions; and failure to comply with research regulations. Rule 33 of the Code of Policies and Regulations Applying to All Students gives complete details of rules governing academic integrity for all students. You are responsible for knowing and abiding by these rules.

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We wish to examine the relationship between the age of a vehicle in years ( x ) and the selling price ( y ) (in thousands of \$) for a particular brand of SUV at Honest Harry’s Used Car Dealership . The data are as follows: x y 2 19 3 16 4 11 4 17 5 14 6 7 Σ x = 24, Σ y = 84, Σ x 2 = 106, Σ y 2 = 1272, Σ x y = 310, Σ ( x x ) 2 = 10, Σ ( y y ) 2 = 96, Σ ( x x ) ( y y ) = Σ ( x x ) y = – 26. Consider the model Y i = α + β x i + ε i , where ε i ’s are i.i.d. N ( 0, σ 2 ). a) (5) Find the equation of the least-squares regression line. ( ) ( ) ( ) 10 26 2 ˆ - - - - = = x x y y x x = 2.6 . OR ( )( ) ( ) 60 156 24 106 6 84 24 310 6 2 2 2 ˆ - - - - - = = = x x n y x y x n = 2.6 . 6
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420Exam1Bans - STAT 420 Fall 2008 Version B Name ANSWERS...

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