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Homework3

# Homework3 - University of California Davis ARE 106 Winter...

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University of California, Davis ARE 106 - Winter 2011 Homework 3 There will be no quiz based on these homework problems, however this material will be covered on the midterm exam held Thursday, January 27, 2011 Conceptual Questions 1. What are null and alternative hypotheses? Explain the diﬀerence between them. 2. What is an interval estimate? 3. What is a test statistic? 4. When could we use a Z-test and when could we use a t-test to assess the signiﬁcance of our estimated regression coeﬃcient, b 2 ? 5. What is a Type I error? 6. What is a Type II error? 7. How could we be 100% sure never to make a Type I error? Why might this not be a good idea? Computational Questions 1. You are the marketing manager for mid-sized paper supply company. You gather data on monthly advertising expenditure and sales in order to assess the eﬀectiveness of the company’s ad spending. You want to consider the eﬀect of ad spending on sales and conduct (Note that all ﬁgures are in thousands of dollars.) Advertising Spending 3 3 6 8 5 6 5 4 4 Sales 40 34 55 49 48 50 38 42 50 (a) Write out the population regression function . (b) Obtain estimates for the slope and intercept of the regression equation using the

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Homework3 - University of California Davis ARE 106 Winter...

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