Table 9.11 shows annual U.S. beer production (X), in millions of barrels, and the number of married
Question:
Table 9.11 shows annual U.S. beer production (X), in millions of barrels, and the number of married people (Y), in millions. Draw a scatter diagram and estimate the equation Y = α + βX + ε by least squares to see if there is a statistically significant relationship at the 5 percent level. If so, do you think that beer drinking leads to marriage, marriage leads to drinking, or what?
Table 9.11
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SOLUTION To solve this problem we will follow these steps 1 Draw a scatter diagram of the data 2 Estimate the equation Y X using the least squares method 3 Determine if there is a statistically signif...View the full answer
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Related Book For 
Essential Statistics Regression And Econometrics
ISBN: 9780123822215
1st Edition
Authors: Gary Smith
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