AG M 3190 Lecture Notes - Lecture 1: Sampling Distribution, Quartile, Variance

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carminelizard185

22 Nov 2017

School

Clemson University

Department

Agricultural Mechanization

Course

AG M 3190

Professor

Zhang

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Document Summary

Study guide on the first exam: different types of data (chapter 1) Quantitative data deals with numbers and data can be measured. Cross-sectional data are data collected at the same or approximately the same point in time. Time series data are data collected over several time periods. The graph above is quantitative and time series data: measures of data central tendency (chapter 3): mean, median, mode, Percentiles, quartiles: mean is an average value of a variable. Example: an individual"s raw score of 54 on the verbal portion of an admission test corresponds to the 70th percentile. It means approximately 70% of the students scored lower than this individual and approximately 30% of the students scored higher than this individual. Monthly starting salaries for a sample of 12 business school graduates! Approximately 85% of the students" starting salaries lower than 3730 and approximately. 15% of the students salaries higher than 3730!

Related Questions

Mulberry Realty sells homes in the northeast section of the United States. A frequently asked question by prospective buyers is: If we buy this house, how much can we expect to pay to heat it during the winter? The research division of Mulberry is asked to develop some guidelines for heating costs (Cost) (measured in $) for single family homes. The division decides three variables are related to heating costs: (1) the mean daily outside temperature (Temp) (in degrees Fahrenheit); (2) the number of inches of attic insulation (Insulation); and (3) the age of the furnace in the house (Age) (measured in years). The division collected data during the month of January for a sample of homes. Parentheses contain the variable names (in bold) as listed in the data set.

The data set for this scenario is included in an Excel file.

a. Is the information used in this analysis, cross-sectional data or time series data? (4 pts)

b. State your a priori hypothesis about the sign of the slope for each independent variable. (3 pts each)

c. Write out the estimated regression equation using variable specific names? (5 pts)

d. Interpret the slope coefficient for the variable with the largest slope coefficient. (5 pts)

e. For the slope coefficient with the smallest value (in absolute value), test to see if it has the directional relationship hypothesized in part (b). Alpha = 0.05. (15 pts)

Data Set:

Cost ($)	Temp (deg)	Insulation (ins.)	Age (yrs)
250	35	3	6
360	29	4	10
165	36	7	3
43	60	6	9
92	65	5	6
200	30	5	5
355	10	6	7
290	7	10	10
230	21	9	11
120	55	2	5
73	54	12	4
205	48	5	1
400	20	5	15
320	39	4	7
72	60	8	6
272	20	5	8
94	58	7	3
190	40	8	11
235	27	9	8
139	30	7	5

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AG M 3190 Lecture Notes - Lecture 1: Sampling Distribution, Quartile, Variance

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