Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Need help with the question asap!! There are 2 pics as not all could fit in on picture. The redlined ones is what needs to
Need help with the question asap!! There are 2 pics as not all could fit in on picture. The redlined ones is what needs to be given an answer for. Thank you
sidential Tenan. Contact us - Find... Customer and Pro... View Listings 7 Internet reporting.. S Ex = 644 Zy = 484 SSxx = 23,394 SSyy - 9,618 Reading SSxy = 11,845 a. Find the values of a and b in the least square line y = a + bx for predicting the Expenditure (y) as a function of Income (x). (Note: Express a and b to 2 decimal places of accuracy.) Least square regression line: y = a + bx b. Use the equation of the regression line in part (a) to predict Expenditure if the Income is 130. Round the value to 2 decimal places of accuracy and enter in the answer box. c. Compute the lincar correlation coefficient between Expenditure (y) and Income (x). Express answer to 2 decimal places of accuracy. d. Test at a = 0.1 level of significance whether the correlation coefficient p is positive. Complete the table below, round t-values to three decimals. Hypotheses HO: p =0, HI: p >0 Critical Value of t Test Statistic Value si Reject HO? Enter 1 if you reject, enter 2 otherwise.)Question 16 Household Expenditure and Income Rea 11 points A researcher collected the following data (in thousands of dollars) from a random sample of 8 people who work downtown. Income Expenditure (x) (y 67 43 200 108 21 31 75 59 41 30 100 125 30 27 110 61 To save computational time, you may use the following sums and sums of squares and cross-products for subsequent calculations: Ex = 644 Ey = 484 SSxx = 23,394 SSyy = 9,648 SSxy = 11,845 a. Find the values of a and b in the least square line y = a + bx for predicting the Expenditure () as a function of Income (x) (Note: Express a and b to 2 decimal places of accuracy.) Least square regression line: y = a + bx a = b = BE b. Use the equation of the regression line in part (a) to predict Expenditure if the Income is 130. Round the value to 2 decimal places of accuracy and enter in the answer boxStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started