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Significance SS MS F Regression 238520.8333 238520.8 67.6122047 0.00017466 Residual 21166.66667 3527.778 Total 259687.5 Coefficients Standard Error 1 Stat P-value Lower 95% Upper 95% Intercept
Significance SS MS F Regression 238520.8333 238520.8 67.6122047 0.00017466 Residual 21166.66667 3527.778 Total 259687.5 Coefficients Standard Error 1 Stat P-value Lower 95% Upper 95% Intercept 1735 147.8926037 11.73149 2.3148E-05 1373.11984 2096.8802 Years of education -89.16667 10.84401183 -8.222664 0.00017466 -115.70101 62.63233 Using the information provided, answer the following questions. Question 10 Determine the least squares regression line. And interpret the value of the slope of the regression line. [10 marks] H. = B A X X 2- E 6 xAn ardent fan of television game shows has observed that, in general, the more educated the contestant, the less money he or she wins. To test her belief, she gathers data about the last eight winners of her favourite game show. She records their winnings in dollars and their years of education and performs a simple linear regression, with the Excel output provided. SUMMARY OUTPUT Regression Statistics Multiple R 0.9583798 R Square 0.9184918 Adjusted R Square 0.9049071 Standard Error 59.395099 Observations ANOVA Significance F dif SS MS F Regression 238520.8333 238520.8 67.6122047 0.00017466 Residual 6 21166.66667 3527.778 Total 259687.5Question 11 Determine the standard error of estimate, and describe what this statistic tells you about the regression line. [5 marks] B I A X, X"
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