Log out Go to App
Go to App

Learning Materials

Features

Discover

Chapter 14: Q14.114 (page 585)

Is 'p' a parameter or a statistic ? What about r? Explain your answer

Short Answer

Expert verified

p is parametric correlation coefficient of population, r is statistic estimate from sample.

Step by step solution

01

Parameter and Statistic 

Parameter is a statistical measure of entire population, where population involves all the units of data.

Statistic is an estimate of population parameter, where sample involves only selected units (out of population) of data

02

Correlation Coefficients p and r

Variables are linearly correlated when they change at a constant rate, their relationship is denoted by a straight line graph.

pand rare statistical linear correlation coefficients

p(rho) is the Parameter - linear correlation coefficient, for entire population

r is the sample based 'statistic' estimate of - linear correlation coefficient r(rho)

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Start your free trial

Over 30 million students worldwide already upgrade their learning with Vaia!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

Gas Guzzelrs. Use the data on the WeissStats site for gas mileage and engine displacement for 121vehicles referred to in Exercise 14.41

a. Decide whether you can reasonably apply the regression t-test. If so, then also do part (b).

b. Decide, at the 5%significance level, whether the data provide sufficient evidence to conclude that the predictor variable is useful for predicting the response variable.

In Exercises 14.12-14.21, we repeat the data and provide the sample regression equations for Exercises 4.48 -4.57.

a. Determine the standard error of the estimate.

b. Construct a residual plot.

c. Construct a normal probability plot of the residuals.

y^=1+2x

The data from Exercise 14.43 for volume, in cubic feet, and diameter at breast height, in inches, for 70 shortleaf pines are on the WeissStats site.

Following are the data on age of fetuses and length of crown-rump.useα=0.10presuming that the assumption for regression inference are met, decide at the specified significance level whether the data provide sufficient evidence to conclude that the predictor variable is useful for providing the response variable.

14.22 Tax Efficiency. Tax efficiency is a measure ranging from 0 to 100 - of how much tax due to capital gains stock or mutual funds investors pay on their investments each year, the higher the tax efficiency, the lower the tax. The paper "At the Mercy of the Manager" (Financial Planning, Vol. 30(5), pp. 54-56 ) by C. Israelsen examined the relationship between investments in mutual fund portfolios and their associated tax efficiencies. The following table shows the percentage of investments in energy securities (x)and tax efficiency (y)for 10 mutual fund portfolios.
See all solutions

Recommended explanations on Math Textbooks

Mechanics Maths

Read Explanation

Applied Mathematics

Read Explanation

Pure Maths

Read Explanation

Geometry

Read Explanation

Probability and Statistics

Read Explanation

Theoretical and Mathematical Physics

Read Explanation
View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.

Sign-up for free