(Requires Appendix Material)At a Recent County Fair,you Observed That at One

question 40

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: where the height is measured in inches and weight in pounds.(Small letters refer to deviations from means as in zi = Zi - )
(a)Calculate the slope and intercept of the regression and interpret these.
(b)Find the regression R2 and explain its meaning.What other factors can you think of that might have an influence on the weight of an individual?

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Definitions:

Inventory Management

The process of ordering, storing, and using a company's inventory, including raw materials, components, and finished products.

Predictable Variability

Variations or changes in processes or systems that can be forecasted with a degree of reliability based on historical data.

Demand

The amount of a product or service that customers are willing and able to purchase at a given price in a specific market context.

Subcontracting Cost

Expenses incurred when a company contracts out work to external suppliers or vendors.