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# Regression Analysis for life insurance data

Would like step-by-step guidance with the attached statistics problems.

1. Compute the regression equation (Solving of both "a" and "b") and compute the standard error of the estimate.

Sample size = 20
X= amount of disposable Income (000\$)
Y= amount of life insurance (000\$)
Sum of X = 334
Sum of Y = 799
Sum of X*Y=14,168
Sum of X2 = 6118
Sum of Y2=33,511

Explain the values of "a" and "b" in reference to this problem.

2. The following sample data pertain to shipments received by the U.S. Department of the Army from three different vendors.

FDX UPS CF
Rejected 12 08 20
Not Perfect But Acceptable 23 12 30
Perfect 85 60 110

Use a ten percent significance level to test whether the three vendors ship products of equal quality.

3. In Cy 2006, the American Statistical Association randomly selected ten working women ages 35 to 45; to determine the relationship between annual income (y) and years of formal education (x). The following represents their statistical findings.

Y=\$1400 + \$800x

a. predict the annual income for a working woman who has completed three years of formal education.

b. Would it be fair to say that each year of formal education is worth \$2200? Why or why not?

4. There are 2500,000 eligible voters in Alaska of whom 37,500 are Hispanic. A random sample of 500 voters is to be selected. Determine the mean, variance, and the standard deviation of Hispanic voters.

5. Suppose that the percentage distribution of U.S. college students classed as Freshmen, Sophomores, Juniors, Seniors, Graduates and Post Graduate has been established by the 2000 census as follows:

Class Percentage Distribution
Freshmen 15
Sophomore 10
Juniors 25
Seniors 30
Total 100

Suppose we took a random sample of 1000 students from a university and found the following distribution to be:

Class Percentage Distribution
Freshmen 180
Sophomore 260
Juniors 210
Seniors 150