3. (0.1 points each) For each of the following scenarios, indicate whether the q

Question

3. (0.1 points each) For each of the following scenarios, indicate whether the question would be most appropriately answered using inference on the model parameters (?s), the expected response (Yˆ ), or the population (prediction intervals) .

(a) An analyst wants to know how the average summertime high temperature in different real estate markets affects the difference in sales prices between homes with and without air conditioning in those markets.

(b) The analyst is planning to sell his house and wants to know if he can expect the increase in sales price to make up the cost of installing air conditioning.

(c) A chemist wishes to use the height of a peak in a spectrograph to estimate the most likely concentration of an impurity in a sample.

(d) The chemist also wants to know the range of plausible concentrations in the sample.

(e) A bank customer has applied for a car loan. The loan officer will approve the loan if she believes there is at least a 90% chance that the customer will pay it back.

(f) A biologist wants to determine whether increased ozone pollution reduces crop productivity.

(g) ... and wants to predict the average reduction in productivity that would occur across farms in the region with a 3% increase in ozone.

(h) ... and wants to establish a guideline for the maximum ozone concentration that should be allowed to ensure a 99% chance that no farms in the region will experience reductions larger than a particular threshold.

(i) A store owner has modeled the relationship between temperature and ice cream sales, and wants to know how much ice cream to order for next week, based on the weather forecast (assume the forecast is correct).

(j) A procrastinator wants to know whether there is a significant linear relationship between annual per capita mozzerella cheese consumption and the number of people who graduate each year with doctorates in civil engineering (R2 = 0.9189! Credit: http://www.tylervigen.com/spurious-correlations).

Explanation / Answer

a) Inference on the model parameters

b) Expected response

c) Expected response

d) Prediction intervals

e) Prediction intervals

f) Inference on the model parameters

g) Expected response

h) Prediction intervals

i) Expected response

j) Inference on the model parameters

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