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A researcher wanted to find the relationship between the monthly household spending on grocires Y ( in dollars ) and the housholds monthly income X(in
A researcher wanted to find the relationship between the monthly household spending on grocires Y ( in dollars ) and the housholds monthly income X(in dollars) | ||||||||||||||||
10 households were randomly selected and data were obtained in the following table | ||||||||||||||||
Grocery Spending Y | 715 | 583 | 484 | 425 | 418 | 418 | 418 | 407 | 405 | 385 | 336 | |||||
Monthly income X | 5232 | 4316 | 4238 | 3600 | 4000 | 3730 | 4730 | 3005 | 3800 | 4127 | 3800 | |||||
the data stored in the excel sheet | ||||||||||||||||
a) Find the regression equation for the data | ||||||||||||||||
b) Find the coefficient of determaination and interpret its value | ||||||||||||||||
c) Interpret carefully the regression coefficients . | ||||||||||||||||
d) At the 5% significance level , do the data provide sufficient eveidence to conclude that the households monthly income is good predictor of the monthly grocery spending? | ||||||||||||||||
e) Estimate a point predection for the mean monthly grocery spending of all of the households that have amonthly income 6000 dollars . | ||||||||||||||||
f) Estimate a 95% predection interval the monthly grocery spending of a housholds that have monthly income 6000 dollars | dollars | |||||||||||||||
g) Estimate a 95 % confidence intereval the mean monthly grocery spending of all households that have monthly income 6000 dollars |
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