Scores from Exam 1: 41 59 10 71 0 45 57 49 78 64 62 12 89 71 52 68 84 65 90 69 31 55 63 20 64 52 80 51 45 95 32 97 76 54 41 82 60 What is the mean and standard deviation of the above sample? If we assume performance is a bell-shape curve: If A’s should have a z-score of at least 1.25 (top 10%), what score would be the cut-off for an A? If B’s should have a z-score of at least .25 (top 30%), what score would be the cut-off for a B? If C’s should have a z-score of at least -.25 (above bottom 30%), what would be the cut-off? Location of the k percentile: L = k * n (where if you’re looking for the top 10%, k = .1) (note, we use this formula for the first and third quartile with k = .25 and .75) Class Curve: Top 10% (90th percentile) of class gets an A, what’s the position in the above the lowest A? Top 30% (to 10%, the 70th percentile) gets a B, what’s the position in the above of the lowest B? Middle 40% gets a C (30th percentile to 70th percentile), what’s the position in the above of the lowest C? Year Poverty% Unemp% 1980 1985 1990 1992 1995 1998 2000 2002 2005 2007 2009 13 14 13.5 14.8 13.8 12.7 11.3 12.1 12.6 12.5 14.3 Predicted Y (Y ) Residual 7.6 7.4 5.2 7.8 5.6 4.5 4 5.8 5 4.6 9.5 Regress the Poverty Rate (Y) on the Unemployment Rate (X) For each Unemployment Rate, calculate the predicted Poverty Rate (the 4th column) Then find the residual (error, 5th column) What is the r and r2, interpret both of these Interpret b1 Interpret the Y intercept Find the X intercept and interpret that Predictions: If the unemployment rate was to fall by 3% points, predict what happens to the poverty rate If the unemployment rate rose to 11%, predict the poverty rate Control (important assumption): What the unemployment rate need to be in order to get the poverty rate to 10%? Car Weight (pounds) 3175 3450 3225 3985 2440 2500 2290 Mileage (mpg) Predicted Y (Y ) Residual 27 29 27 24 37 34 37 Regress the Mileage on the Car Weight Calculate the Predicted Y and the Residual What is the r and r2, interpret both of these Interpret b1 Interpret the Y intercept Find the X intercept and interpret that Predictions: If you add 500 pounds to a car, what happens to the mileage? If a car weighs 2800 pounds, what is the predicted mileage? Control (important assumption): How heavy should a car be if you want the mileage to be 50 mpg?