Stats Question The Organisation for Economic Cooperation an

Stats Question :

The Organisation for Economic Co-operation and Development collects data on Main Economic Indicators (MEIs) for many countries. Each variable is recorded as an index with the year 2000 serving as a base year. This means that the variable for each year is reported as a ratio of the value for the year divided by the value for 2000. Use of indices in this way makes it easier to compare values for different countries. The following table gives the values of three MEIs for 21 countries:

1.) What is the predicted value of production for a country that has an index of 160 for dwelling permits?

(Use decimal notation. Give your answer with tolerance = ±1.)

Predicted value of production = .

2. )The country with ID = 15 has an index of 160 for dwelling permits. Find the residual for this country.

Residual is actual value minus predicted value.

(Use decimal notation. Give your answer with tolerance = ±1.)

Please someone help if you can; thanks

Country ID	Dwelling permits	Sales	Production
1	116	135	107
2	127	101	112
3	226	121	103
4	176	130	160
5	124	127	113
6	100	140	123
7	148	119	104
8	55	96	116
9	114	133	100
10	109	141	156
11	91	125	142
12	90	96	108
13	158	106	153
14	148	161	119
15	160	103	112
16	125	135	109
17	122	139	92
18	163	142	155
19	55	117	108
20	123	122	103

Thus the fitted equation is :

Prod. = 91.00 + 0.0736 (DP) + 0.1561(sales)

Note that we have assumed that sales too is an indepedent variable.

Dwelling permit = 160, Sales = 103

Predicted value = 118.86

Residual = -6.8686

This can be obtained from the residual output table.

Hope this helps.

Country ID	Dwelling permits	Sales	Production
1	116	135	107
2	127	101	112
3	226	121	103
4	176	130	160
5	124	127	113
6	100	140	123
7	148	119	104
8	55	96	116
9	114	133	100
10	109	141	156
11	91	125	142
12	90	96	108
13	158	106	153
14	148	161	119
15	160	103	112
16	125	135	109
17	122	139	92
18	163	142	155
19	55	117	108
20	123	122	103

Stats Question : The Organisation for Economic Co-operation and Development collects data on Main Economic Indicators (MEIs) for many countries. Each variable i

Stats Question The Organisation for Economic Cooperation an

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