Question 1 The income of farmers depends on various factors. To predict the income of the next year, a study was undertaken and data was gathered considering as many as possible factors that might influence the yearly income. Regression methods are used to create such a prediction function, that is, we want to predict the profit for the next year. The following were determined. X₁ = SIZE-farm size recorded x 1000 hectares X₂ = AGE - how long the farm has been in operation in years X₁ = RATIO - the ratio of land size to field size recorded as 0.5, 0.75, 0.8 and 0.9 X₁ = METHOD-rotational and non rotational method of planting P = INCOME - the income per year recorded in x R 1 000 000.00 The partial dataset is as follows INCOME Y 1.3 2.4 3.2 1.3 2.1 SIZE X₁ 5 8 2 1.2 1.5 AGE X₂ 20 100 80 30 11 RATIO X₂ 0.5 0.75 0.8 0.8 0.75 METHOD X₂ Rotational Rotational Pedal Non-rotational Rotational Non-rotational 1.1. The analyst did some exploratory analysis and below are some of the residual plots he constructed. Study the plots and answer the questions that follows.
Question 1 The income of farmers depends on various factors. To predict the income of the next year, a study was undertaken and data was gathered considering as many as possible factors that might influence the yearly income. Regression methods are used to create such a prediction function, that is, we want to predict the profit for the next year. The following were determined. X₁ = SIZE-farm size recorded x 1000 hectares X₂ = AGE - how long the farm has been in operation in years X₁ = RATIO - the ratio of land size to field size recorded as 0.5, 0.75, 0.8 and 0.9 X₁ = METHOD-rotational and non rotational method of planting P = INCOME - the income per year recorded in x R 1 000 000.00 The partial dataset is as follows INCOME Y 1.3 2.4 3.2 1.3 2.1 SIZE X₁ 5 8 2 1.2 1.5 AGE X₂ 20 100 80 30 11 RATIO X₂ 0.5 0.75 0.8 0.8 0.75 METHOD X₂ Rotational Rotational Pedal Non-rotational Rotational Non-rotational 1.1. The analyst did some exploratory analysis and below are some of the residual plots he constructed. Study the plots and answer the questions that follows.
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.CR: Chapter 2 Review
Problem 111CR: Respiratory Rate Researchers have found that the 95 th percentile the value at which 95% of the data...
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