According to flyer by a Prudential Insurance Company representative, the costs of approximate probate fees and taxes for selected net taxable estates are as follows:
Net Taxable Estate ($)
Approximate Probate Fees and Taxes ($)
600,000
30,000
750,000
92,500
1,000,000
203,000
1,500,000
438,000
2,000,000
688,000
2,500,000
1,037,000
3,000,000
1,350,000
Decide which variable should be the independent variable and which should be the dependent variable.
Make a scatter plot of the data.
Does it appear from inspection that there is a relationship between the variables? Why or why not?
Calculate the least squares line. Put the equation in the form of:
Find the correlation coefficient. Is it significant?
Find the estimated total cost for a net taxable estate of $1,000,000. Find the cost for $2,500,000.
Use the two points in (f) to plot the least squares line on your graph from (b).
Does it appear that a line is the best way to fit the data? Why or why not?
Are there any outliers in the above data?
Based on the above, what would be the probate fees and taxes for an estate that does not have any assets?
What is the slope of the least squares (best-fit) line? Interpret the slope.
Yes
0.9964; Yes
$208,872.49; $1,028,318.20
Yes
No
slope = 0.5463. As the net taxable estate increases by one dollar, the approximate probate fees and taxes increases by 0.5463 dollars (about 55 cents).
The following are advertised sale prices of color televisions at Anderson’s.
Size (inches)
Sale Price ($)
9
147
20
197
27
297
31
447
35
1177
40
2177
60
2497
Decide which variable should be the independent variable and which should be the dependent variable.
Make a scatter plot of the data.
Does it appear from inspection that there is a relationship between the variables? Why or why not?
Calculate the least squares line. Put the equation in the form of:
Find the correlation coefficient. Is it significant?
Find the estimated sale price for a 32 inch television. Find the cost for a 50 inch television.
Use the two points in (f) to plot the least squares line on your graph from (b).
Does it appear that a line is the best way to fit the data? Why or why not?
Are there any outliers in the above data?
What is the slope of the least squares (best-fit) line? Interpret the slope.
Below are the average heights for American boys. (Source:
Physician’s Handbook, 1990 )
Age (years)
Height (cm)
birth
50.8
2
83.8
3
91.4
5
106.6
7
119.3
10
137.1
14
157.5
Decide which variable should be the independent variable and which should be the dependent variable.
Make a scatter plot of the data.
Does it appear from inspection that there is a relationship between the variables? Why or why not?
Calculate the least squares line. Put the equation in the form of:
Find the correlation coefficient. Is it significant?
Find the estimated average height for a one year–old. Find the estimated average height for an eleven year–old.
Use the two points in (f) to plot the least squares line on your graph from (b).
Does it appear that a line is the best way to fit the data? Why or why not?
Are there any outliers in the above data?
Use the least squares line to estimate the average height for a sixty–two year–old man. Do you think that your answer is reasonable? Why or why not?
What is the slope of the least squares (best-fit) line? Interpret the slope.
Yes
0.9761; yes
72.2 cm; 143.13 cm
Yes
No
505.0 cm; No
slope = 7.0948. As the age of an American boy increases by one year, the average height increases by 7.0948 cm.
Questions & Answers
I'm interested in biological psychology and cognitive psychology
Communication is effective because it allows individuals to share ideas, thoughts, and information with others.
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miss
Every time someone flushes a toilet in the apartment building, the person begins to jumb back automatically after hearing the flush, before the water temperature changes. Identify the types of learning, if it is classical conditioning identify the NS, UCS, CS and CR. If it is operant conditioning, identify the type of consequence positive reinforcement, negative reinforcement or punishment
nature is an hereditary factor while nurture is an environmental factor which constitute an individual personality. so if an individual's parent has a deviant behavior and was also brought up in an deviant environment, observation of the behavior and the inborn trait we make the individual deviant.
Samuel
I am taking this course because I am hoping that I could somehow learn more about my chosen field of interest and due to the fact that being a PsyD really ignites my passion as an individual the more I hope to learn about developing and literally explore the complexity of my critical thinking skills
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Source:
OpenStax, Collaborative statistics homework book: custom version modified by r. bloom. OpenStax CNX. Dec 23, 2009 Download for free at http://legacy.cnx.org/content/col10619/1.2
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