Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Kindly solve this question 2. Consider the following five observations. You are to do all the parts of this exercise using only a calculator, or

Kindly solve this question

image text in transcribed
2. Consider the following five observations. You are to do all the parts of this exercise using only a calculator, or in an Excel spreadsheet. X x - X (x - x)2 y - y (x - x) ( y - D) 7.3 3 2.7 5 1.2 0 9 [v. = [x = Fill in the table. Put the sums in the last row. What are the sample means x and y? ge Calculate b, and by and state their interpretation. Compute )?_1 x7 , 27 1 x y;- Use the values to show that E(x - x)? = Ex; - nx2 and)(x - x) (y - y) = Exy - nxy d) Use the least squares estimates from part b to compute the fitted values of y and complete the remainder of the table below. Put the sums in the last row. X xe 7.3 3 2.7 1 5 2 1.2 0 9 4 Ine, = = = e) On graph paper (or a grid you draw), plot the points and sketch the fitted regression line " = bj + box;. Locate and plot the point of the means, (x, y). Does your fitted line pass through that point? f) Show that for the point of the means, (x, y), y = b, + b2x. g) Show that the mean of the predicted 9 is equal to y, the mean of the y. h) Compute 6. Compute the var(by)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistics Informed Decisions Using Data

Authors: Michael Sullivan

5th Global Edition

9781292157115

Students also viewed these Economics questions