Recent content by msoe414

1. Binomial Theorem

I'm trying to do this following below in R: The Harriet Hotel in downtown Boston has 100 rooms that rent for $150 per night. It costs the hotel$30 per room in variable costs (cleaning, bathroom items, etc.) each night a room is occupied. For each reservation accepted, there is a 5% chance...
2. Time Series modeling --criteria

Give criteria for aiding in the choice of a “best” time series model when two or more such models are available. What is, arguably, the most important criterion? I think that for the above, isn't the AIC, BIC the most arguable? I would look at autocorrelation plots, but I am trying to see what...
3. Time Series Analysis

Well, I have my own draft, but hoping if you can please explain them. I'm trying to learn. Thanks!
4. Time Series Analysis

Describe what role Exploratory Data Analysis (EDA) has in the application of time series modeling. Include: (a) Why is testing for a normal distribution important? (b) Why is testing for skew and kurtosis important? (c) What role does hypothesis testing play? (d) What distribution is used for...
5. Regression Analysis

I was working through the following set and needed some clarity on them. I attempted these questions (with my answers below) but need help to see which ones might be incorrect and if so, WHY Thanks (1) Linear regression assumes: a. The relationship between X and Y is a straight line...
6. Regression Analysis

I'm trying to better understand linear regression by the following questions. (1) Linear regression assumes: a. The relationship between X and Y is a straight line. b. The residuals are normally distributed. c. The residuals are homoscedastic. d. Both homoscedastic and...