Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The average daily cost of living in dollars [1:] and the average wage in dollars (y) in 12 regions of a country are shown in

image text in transcribedimage text in transcribed
The average daily cost of living in dollars [1:] and the average wage in dollars (y) in 12 regions of a country are shown in the following table. x 77 84 88 77 89 105 69 85 78 91 78 110 y 134 149 136 157 164 194 137 159 156 167 158 172 Assume that the averages are jointly normally distributed. Use the z-values rounded to two decimal places to obtain the answers. (a) Find a regression line relating the wage to the cost of living. Round your answer to one decimal place (e.g. 98.7}. g : 65.8192 Round your answer to two decimal places (e.g. 98.76). A )31 : 1.0603 (b) Test for the signicance of regression using a x 0.0]. hypothesis thatl = 0. (c) Estimate the correlation coefficient. Round your answer to three decimal places (e.g. 98.765). r= 0.742 (d) Test the hypothesis that p = 0, using a = 0.1. Reject v hypothesis that p = 0. (e) Test the hypothesis that p = 0.5, using a = 0.01. Fail to reject w|hypothesis that p = 0.5. (f) Construct a 99% confidence interval for the correlation coefficient. Round your answers to three decimal places (e.g. 98.765). HI 0.293 i 0.923

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Spherical Radial Basis Functions, Theory And Applications

Authors: Simon Hubbert, Quoc Thong Le Gia, Tanya M Morton

1st Edition

331917939X, 9783319179391

More Books

Students also viewed these Mathematics questions

Question

=+1. Is it OK for a firm to profit from poverty?

Answered: 1 week ago