4 Each Each year for eight years, an oil company recorded the number of barrels of...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
4 Each Each year for eight years, an oil company recorded the number of barrels of oil it produced that year and the total number of active wells it was using by the end of the year. Year Wells Barrels of oil (millions) 2010 2011 46 157 2012 237 337 419 2013 2014 2015 2016 2017 501 601 657 5 21 17 20 25 28 24 30 The company believes that the number of active wells and the number of barrels of oil produced in a year are positively correlated and can be modelled by a linear relationship. Using a 1% significance level, test to see if there is evidence that the company's beliefs are correct. 5 A city council collects data on the population densities in different areas of the city, in people per hectare, and the distances of those areas from the city centre, in km. It calculates the product moment correlation coefficient between the two sets of data and finds it to be -0.51. Given that the council collected data from 24 sample areas, test, at the 1% level of significance, the claim that there is a negative correlation between population density and the distance from the city centre. State your hypotheses clearly. (3 marks) 8 The Mercalli scale and the Richter scale are both used to measure earthquakes. The Mercalli scale is based on structural damage to buildings and the Richter scale is based on the amplitude of the ground vibrations. The table shows data from eight earthquakes. Mercalli intensity, M 9 7 8 6 5 8 6 8 Richter magnitude, R 6.3 5.3 6.0 5.5 4.0 5.4 4.7 7.1 a Calculate, to 3 decimal places, the product moment correlation coefficient between M and R. (1 mark) It is suggested that there is linear correlation between the structural damage and ground vibrations caused by an earthquake. b Test this suggestion at the 1% significance level, stating your null and alternative hypotheses clearly. (3 mark) 4 Each Each year for eight years, an oil company recorded the number of barrels of oil it produced that year and the total number of active wells it was using by the end of the year. Year Wells Barrels of oil (millions) 2010 2011 46 157 2012 237 337 419 2013 2014 2015 2016 2017 501 601 657 5 21 17 20 25 28 24 30 The company believes that the number of active wells and the number of barrels of oil produced in a year are positively correlated and can be modelled by a linear relationship. Using a 1% significance level, test to see if there is evidence that the company's beliefs are correct. 5 A city council collects data on the population densities in different areas of the city, in people per hectare, and the distances of those areas from the city centre, in km. It calculates the product moment correlation coefficient between the two sets of data and finds it to be -0.51. Given that the council collected data from 24 sample areas, test, at the 1% level of significance, the claim that there is a negative correlation between population density and the distance from the city centre. State your hypotheses clearly. (3 marks) 8 The Mercalli scale and the Richter scale are both used to measure earthquakes. The Mercalli scale is based on structural damage to buildings and the Richter scale is based on the amplitude of the ground vibrations. The table shows data from eight earthquakes. Mercalli intensity, M 9 7 8 6 5 8 6 8 Richter magnitude, R 6.3 5.3 6.0 5.5 4.0 5.4 4.7 7.1 a Calculate, to 3 decimal places, the product moment correlation coefficient between M and R. (1 mark) It is suggested that there is linear correlation between the structural damage and ground vibrations caused by an earthquake. b Test this suggestion at the 1% significance level, stating your null and alternative hypotheses clearly. (3 mark)
Expert Answer:
Related Book For
Business Statistics A First Course
ISBN: 9780321979018
7th Edition
Authors: David M. Levine, Kathryn A. Szabat, David F. Stephan
Posted Date:
Students also viewed these mathematics questions
-
Derrick Iverson is a divisional manager for Holston Company. His annual pay raises are largely determined by his divisions return on investment (ROI), which has been above 25% each of the last three...
-
Multinational oil company ExxonMobil faced many challenges related to climate change. Climate change is taking place because of the greenhouse effect. When solar radiation passes through the...
-
Assignment Description The final assignment for MBA 675 is to demonstrate one's understanding of the importance of the operations of a firm through an examination of the firm's operations strategy...
-
Assume that a company is going to invest 900,000 USD in a new project. We expect that the invested capital in the fixed assets will be fully depreciated within 3 years in a linear way. The project is...
-
If the blood pressure of a patient in shock as a result of a severe injury decreases greatly, how would you expect the volume of urine to change? Why?
-
Pure PCl 5 gas is placed in a 2.00-L flask. After heating to 250C the pressure of PCl 5 is initially 2.000 atm. However, the gas slowly but only partially decomposes to gaseous PCl 3 and Cl 2 . When...
-
Explain how an accounting gain or loss to the debtor may occur when a call privilege is exercised.
-
(Treasury Stock Transactions and Presentation) Clemson Company had the following stockholders equity as of January 1, 2010. Common stock, $5 par value, 20,000 shares issued $100,000 Paid-in capital...
-
PLEASE SHOW ALL WORK Yield to Maturity and Yield to Call Arnot International's bonds have a current market price of $1,200. The bonds have an 11% annual coupon payment, a $1,000 face value, and 10 ...
-
At the end of the fiscal year, the Precision Computer Centre has a $21,620 balance in Accounts Receivable. Here is a current schedule of accounts receivable: Assignment Although Accu Pacs account is...
-
This is a financial practice question that was given to us. I was wondering if someone could show me how to completely solve this question? for the sake of my understanding is it possible to show...
-
Employment Information 1. Tanja's received salary of $93,500 in 2023. In addition, she was awarded a year-end bonus of $12,000, all of which is payable in January 2024. 2. Tanja's employer sponsors a...
-
The trajectory of the object is not a straight line, its height h above the horizontal line depends on coordinate x. Find a function h(x) and plot over an interval [0, 10 m]. It is known that the...
-
11. If you begin saving at age 25 instead of age 20, how much more do you need to save per month to have $1M at retirement? 12. Why might some 20-year-olds have difficulty saving $360 per month for...
-
What strategic role does HR play in an MRO for its business development? What pathway does HR creates to ensure that MRO standards are aligned, adhered to, and properly executed?
-
Kirun is leaning a ladder (mass m = 15 kg and length L = 5.0 m) against the side of his house. An ice storm has just passed, so both the ground and the side of the house are frictionless. Kirun...
-
Botanical Company sells one product, herbal soap, by the case. On October 1, 20X7, part of the trial balance showed the following: (Click the icon to view the partial trial balance.) The company pays...
-
What are multinational corporations (MNCs) and what economic roles do they play?
-
Suppose that another bank branch, located in a residential area, is also concerned with the noon- to- 1: 00 p. m. lunch hour. The waiting time, in minutes, collected from a sample of 15 customers...
-
The file Hotel Prices contains the prices in British pounds (about US$ 1.52 as of July 2013) of a room at two-star, three-star, and four-star hotels in cities around the world in 2013. (Data...
-
The following table contains the probability distribution for the number of traffic accidents daily in a small town: a. Compute the mean number of accidents per day. b. Compute the standard...
-
Prepare a consolidated balance sheet from the following balance sheets of Pop Ltd and Son Ltd which were drawn up immediately after Pop Ltd had acquired the share capital of Son Ltd. Pop Balance...
-
Papa and Mamae Ltd buys 667/3 per cent of the shares in Son and Daughter Ltd. You are to draw up the consolidated balance sheet from the following balance sheets constructed immediately control had...
-
Immediately after Parental Times Ltd had acquired control of Offspring One Ltd and Offspring Two Ltd the following balance sheets were drawn up. You are to draw up a consolidated balance sheet....
Study smarter with the SolutionInn App