Practice Midterm 1 Questions SP10

23 find the correlation between weight and price 24

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23. Find the correlation between weight and price. 24. Find the standard deviation of weight. 25. Predict the price of a diamond that weighs 1/3 of a carat. 26. Find the coefficient of determination for this problem. (No need to interpret.) 27. Write down one ordered pair (x, y) that lies on the regression line and does not fall outside the range of the data collected. For #28-30 use the following regression analysis output. Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Up Intercept 0.4 0.90396 0.442498 0.681004 -2.10979 2.909794 -2.10979 X Variable 0.885714 0.232115 3.815836 0.018845 0.241259 1.53017 0.241259 28. Find the equation of the best-fitting regression line. 29. On HW 3 you found the predicted values and residuals (errors) for a small data set, using the results of the regression analysis shown above. Repeat that process by filling in the blanks shown on the answer sheet for the data set given there. Show all work. 30. Now find the SSE for the data set described in Problem 29. Your answer should be a single number. 5
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For 31-37. A random sample of a certain number of shoppers was taken, and the amount of money spent (in dollars) by each shopper was recorded. Descriptive statistics and a histogram are shown below. Use this information to answer the following questions. Include proper units. No need to explain your answers. 31. How many shoppers were included in the sample? 32. What value best represents the center for this data set? 33. What value best represents the variation (spread, diversity) of this data set? 34. What is an appropriate label for the X-axis for the histogram? Your answer must be in the context of the problem and no more than 3 words. 35. What is an appropriate label for the Y-axis for the histogram? Your answer must be in the context of the problem and no more than 3 words. 36. If every shopper spent exactly twenty dollars more next time, what would be the median amount of money spent? 37. If every shopper spent exactly twenty dollars more next time, what would be the standard deviation of the amount of money spent? Descriptive Statistics: Dollars Spent Mean 34.7022 Median 27.855 Standard Deviation 21.69739844 Range 90.23 Minimum 3.11 Maximum 93.34 Q1 19.5 Q3 45.4 RECORD ALL YOUR WORK ON THE ANSWER SHEET.
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