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Question 2 Play the following game and record the observation in a table. You will roll two fair dice for 30 times. Let X, the
Question 2 Play the following game and record the observation in a table. You will roll two fair dice for 30 times. Let X, the random variable, be the sum of the two numbers. (a) Construct a frequency distribution for this experiment. (5 mark) (b ) Construct a probability distribution based on (a). (5 marks) (c) Calculate the mean and standard deviation for the sum of the two numbers. (5 marks) Question 3 The file (RetirePlan.XLS) provides information on 54 couples, their, average nonmortgage debt, and percentage of combined income invested in tax-deferred retirement plans. You are investigating how the average nonmortgage debt influences the percentage of combined income invested in tax-deferred retirement plans. Randomly select 30 records from the attached file (RETIREPLAN.XLS) and answer the following questions. (i) Determine the dependent and independent variable. (2 marks) (ii) Construct scatter plots between the dependent and the independent variable. (3 marks) (iii) Comment briefly on the relationship between the two variables based on the diagram you obtained in part (i). (2 marks) (iv) Compute the coefficient of correlation and coefficient of determination and interpret these values. (9 marks) (V ) Determine the regression equation. (8 marks)
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