Programming. A student is using a computer program to estimate the parameters for his model by fitting
Question:
Programming. A student is using a computer program to estimate the parameters for his model by fitting in different sets of initial values. He determines that his program needs different amounts of time (in minutes) to estimate the parameters. He selects 12 different sets of initial values and records the time used to get the estimated parameters as follows:
a) Plot the data. Are any of the observations outliers?
Explain.
b) Find a 95% confidence interval for the true mean. If another student used the same program to estimate parameters with an average running time of 25 minutes, what can you conclude about this? If there are outliers, find intervals with and without the outliers present. Explain.
Step by Step Answer:
Business Statistics
ISBN: 9781292269313
4th Global Edition
Authors: Norean Sharpe, Richard De Veaux, Paul Velleman