Question
Consider the relationship between the number of bids an item on eBay received and the item's selling price. The following is a sample of 5items
Consider the relationship between the number of bids an item on eBay received and the item's selling price. The following is a sample of 5items sold through an auction
Price In Dollars | 103 | 128 | 156 | 171 | 172 |
Number of Bids | 11 | 11 | 11 | 17 | 17 |
Step 1 of 5:
Calculate the sum of squared errors (SSE). Use the valuesb0=0.9024andb1=0.0856for the calculations. Round your answer to three decimal places.
Step 2 of 5:
Calculate the estimated variance of errors,s2e. Round your answer to three decimal places.
Step 3 of 5:
Calculate the estimated variance of slope,s2b1
Step 4 of 5:
Construct the95%confidence interval for the slope. Round your answers to three decimal places.
Step 5 of 5:
Construct the90%confidence interval for the slope. Round your answers to three decimal places.
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