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Advanced Math Topics

Advanced Math Topics. Chapter 11 Review. A magazine publisher has determined that the monthly circulation of the magazine depends upon the price charged per issue as shown below:. 10. Find: Σ x = Σ y = Σ x 2 = Σ y 2 = Σ xy = x = n =. 253. 11,065. 18.125. 398. 1.6667. 6.

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Advanced Math Topics

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  1. Advanced Math Topics Chapter 11 Review

  2. A magazine publisher has determined that the monthly circulation of the magazine depends upon the price charged per issue as shown below: 10 Find: Σ x = Σ y = Σ x2 = Σ y2 = Σ xy = x = n = 253 11,065 18.125 398 1.6667 6

  3. 1) Compute the coefficient of correlation for this data. r = -0.9838

  4. 2) Is r significant? The critical r from the back of the book for n = 6 and r0.025 is + or -0.811. The computed R from the last slide is outside the region (closer to 1 or -1), so the correlation coefficient is significant.

  5. 3) Find the least-squares prediction equation. = 69.2143 = -16.2286 y = -16.2286x + 69.2143

  6. 4) If the magazine is priced to sell at $2.25, what is its predicted circulation? y = -16.2286(2.25) + 69.2143 y = 32.7000 which stands for 32,700 newspapers. If this number is used again, use 32.7000.

  7. 5) What is the value of the standard error of the estimate? = 1.7864

  8. 6) At the 5% level of significance, does the data indicate that the price charged per issue can be used as a predictor of its circulation? Find the critical t and calculate t. t0.025 with df = 4. The critical t-value is + or – 2.776. t = 10.9706 Since t is outside the interval, we reject that the slope is 0. Thus, the price is a predictor of circulation.

  9. 7) Find a 95% prediction interval for the circulation, in thousands, for the price per issue of $2.25. 26.8329 to 38.5671 thousand papers.

  10. HW: Complete #1-7 on this Powerpoint on your own(link on School Loop or my webpage to Chapter 11 Review) OR do the following: • P. 593 #5 • r = ?, is r significant? • LSR equation. • Find y when x = 6 • Find se • Can we use prediction line? • Find 95% interval for y when x = 6

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