(Requires Appendix Material)At a Recent County Fair, You Observed That

question 30

Essay

(Requires Appendix material)At a recent county fair, you observed that at one stand
people's weight was forecasted, and were surprised by the accuracy (within a range).
Thinking about how the person could have predicted your weight fairly accurately
(despite the fact that she did not know about your "heavy bones"), you think about how
this could have been accomplished.You remember that medical charts for children
contain 5%, 25%, 50%, 75% and 95% lines for a weight/height relationship and decide to
conduct an experiment with 110 of your peers.You collect the data and calculate the
following sums: $$\begin{array} { c } \sum _ { i = 1 } ^ { n } Y _ { i } = 17,375 , \quad \sum _ { i = 1 } ^ { n } X _ { i } = 7,665.5 \\\\\sum _ { i = 1 } ^ { n } y _ { i } ^ { 2 } = 94,228.8 , \sum _ { i = 1 } ^ { n } x _ { i } ^ { 2 } = 1,248.9 , \quad \sum _ { i = 1 } ^ { n } x _ { i } y _ { i } = 7,625.9\end{array}$$
where the height is measured in inches and weight in pounds. (Small letters refer to deviations from means as in $z _ { i } = Z _ { i } - \bar { Z }$ .) (a)Calculate the slope and intercept of the regression and interpret these.

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Definitions:

Liability Insurance

An insurance policy that provides protection against claims resulting from injuries and damage to people and/or property.

Merchandising Firm

A business that purchases finished goods for resale, making profit through the markup of those goods.

Period Costs

Costs that are taken directly to the income statement as expenses in the period in which they are incurred or accrued.

Inventory Accounts

Accounts used to track the cost of inventory that has been purchased but not yet sold to customers.