A Grass Seed Company Conducts a Study to Determine the Relationship

question 8

Multiple Choice

A grass seed company conducts a study to determine the relationship between the density of seeds planted (in pounds per 500 sq ft) and the quality of the resulting lawn.Eight similar plots of land are selected and each is planted with a particular density of seed.One month later the quality of each lawn is rated on a scale of 0 to 100.The regression analysis and summary statistics are given below.A 99% prediction interval for the lawn quality of a lawn sown with a seed density of 2.9 was determined to be $$( 10.6,82.0 )$$ . $$\begin{array} { l c l l c } \text { Variable } & \text { Count } & \text { Mean } & \text { StdDev } & \text { Range } \\\text { Seed Density } & 8 & 2.75 & 0.49099 & 4 \\\text { Lawn Quality } & 8 & 45.625 & 3.712611 & 35\end{array}$$ Dependent variable is: Lawn Quality R-squared = 36.0%
S = 9.073602 with 8 - 2 = 6 degrees of freedom $$\begin{array} { l l l l l } \text { Variable } & \text { Coefficient } & \text { SE(Coeff) } & \text { t-ratio } & \text { P-value } \\\text { Constant } & 33.14815 & 7.510757 & 4.413423 & 0.004503 \\\text { Seed Density } & 4.537037 & 2.469522 & 1.837213 & 0.115825\end{array}$$

• A)Based on this regression,we are 99% confident that the mean seed density will increase between 10.6 and 82.0 for each additional point of lawn quality over 2.9 pounds.
• B)Based on this regression,we are 99% confident that the mean lawn quality will increase between 10.6 and 82.0 for each additional pound of seed density over 2.9 pounds.
• C)Based on this regression,we are 99% confident that a lawn with a seed density of 2.9 pounds per 500 square feet will have a lawn quality between 10.6 and 82.0.
• D)Based on this regression,we are 99% confident that the mean lawn quality for lawns with a seed density of 2.9 pounds per 500 square feet will be between 10.6 and 82.0.
• E)Based on this regression,we know that 99% of all random samples will have a lawn quality between 10.6 and 82.0.

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Definitions:

Pro Forma Statements

Financial statements that project the future financial position of a company, based on current data and assumptions about future activity.

Payout Ratio

The proportion of earnings paid out as dividends to shareholders, often expressed as a percentage of the company's total net income.

Short-term Debt

Financial obligations that are due to be paid within one year, often used as part of a company's operational financing strategy.

Capital Intensity Ratio

A measure of how much capital is required to produce one unit of output, indicating the extent of capital employed in production.