Statistics Questions
(3 points): Table 1 (in Question 1) contains the value of the house and the amount of rental income in a year that the house brings in (“Capital and rental,” 2013). a.) Test at the 5% level for a positive correlation between house value and rental amount. b.) Find the standard error of the estimate. c.) Compute a 95% prediction interval for the rental income on a house worth $230,000.
(3 points): The World Bank collected data on the percentage of GDP that a country spends on health expenditures (“Health expenditure,” 2013) and also the percentage of woman receiving prenatal care (“Pregnant woman receiving,” 2013). The data for the countries where this information is available for the year 2011 are in Table 2 (in Question 2). a.) Test at the 5% level for a correlation between percentage spent on health expenditure and the percentage of woman receiving prenatal care. b.) Find the standard error of the estimate. c.) Compute a 95% prediction interval for the percentage of woman receiving prenatal care for a country that spends 5.0 % of GDP on health expenditure.
