STAT 302 Midterm: STAT302 Midterm 2 Practice Version A Solution

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24 Oct 2018
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Statistics 302 practice midterm 2a solutions: (14 marks) fortune magazine publishes a list of the world"s billionaires each year. We will examine the top 97 of the 1992 list. Europe, middle east, united states, and other) are reported. Wealth is a right-skewed variable, so we will consider the natural logarithm log. wealth to be the response and will see if age and geographic location are predictors. (a) (2 marks) let. E be a variable that is 1 if the person is from europe and 0 otherwise, M be a variable that is 1 if the person is from the middle east and 0 otherwise, O be a variable that is 1 if the person is from the other region and and 0 otherwise, and. U be a variable that is 1 if the person is from the united states and 0 otherwise. State a linear model for the mean of log. wealth that includes age and the above 4 geographic variables.

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