Question
Hello, I am so confused by this example that I found. y = a + b1 * X1 y = the number of jobs supported
Hello,
I am so confused by this example that I found.
y = a + b1 * X1
y = the number of jobs supported by the seafood industry or the dependent variable
a = intercept
b1 = coefficient of the independent variable - X1
X1 = the total sales generated by the seafood industry or the independent variable
1. Enter regression equation and predicted number of jobs
2. Imagine that the state of North Carolina (not listed in the table) has seafood sales of $3,000 (million). Construct a confidence interval for the average number of jobs created by the seafood sales in North Carolina.
3. Use the t statistic to test to determine whether the slope is significantly different from zero using = .05.
Table 1 - Total sales generated by the seafood industry and the corresponding jobs supported by the seafood industry in the top 10 states by seafood sales. | ||
State | Total Sales Generated by the Seafood Industry (in $ millions) | Jobs Supported by the Seafood Industry (1000s) |
California | 22,776 | 125 |
Florida | 16,874 | 77 |
Massachusetts | 7,663 | 87 |
Washington | 7,464 | 55 |
New Jersey | 6,226 | 37 |
New York | 4,412 | 33 |
Alaska | 3,895 | 47 |
Maine | 2,582 | 42 |
Texas | 2,091 | 22 |
Louisiana | 2,022 | 36 |
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