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take home quiz based onlab5

# take home quiz based onlab5 - Price(\$/bu b The...

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Part 1: Year 1997 6.47 200 2626 7.6 1998 4.93 348 2596 13.4 1999 4.63 290 2716 10.7 2000 4.54 248 2804 8.8 2001 4.38 208 2933 7.1 2002 5.53 178 2791 6.4 2003 7.34 112 2525 4.4 2004 5.74 256 2986 8.6 Source: Agriculture Statistics (USDA) x^2 x*y 6.47 7.6 57.76 49.17 4.93 13.4 179.56 66.06 4.63 10.7 114.49 49.54 4.54 8.8 77.44 39.95 4.38 7.1 50.41 31.1 5.53 6.4 40.96 35.39 7.34 4.4 19.36 32.3 5.74 8.6 73.96 49.36 Sum 43.56 67 613.94 352.88 n 5 Mean 5.45 8.38 stdev 1.04 2.75 r -0.6 -0.23 Part 2: SB Price  (\$/bu) Ending  Stocks  (mil/bu) Use (mil/ bu) Ratio (%)  (col 3/col 4) y                (SB  Price) (Stocks/Use  Ratio) b 1 =r*(s y /s x )

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2 4 6 8 10 0 1 2 3 4 5 6 7 8 f(x) = -0.23x + 7.34 R² = 0.35 Price vs. Stock/Use Ratio Stock/Use Ratio (%)

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Unformatted text preview: Price (\$/bu) b. The coefficient (b1), which is -0.226, in the regression equation is how sen change in stock/use ratio. c. It is not appropriate to interpret the intercept coefficient (bo) because the zero when the price is 7.338. d. y = -0.226(6) + 7.338= 5.982 y = -0.226(14) + 7.338= 4.174 f. r= -.595147 (worked out above) There is a moderate amount of uncertainty on what price is based on stock/ g. b1= -.226 (worked out above) 12 14 nsitive price is to e stock/use will not be /use ratio....
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take home quiz based onlab5 - Price(\$/bu b The...

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