Question
The weekly consumption expenditure ($) and disposable income ($) of a random sample of 5 individuals are shown in the following table: Consumption ($) Income($)
The weekly consumption expenditure ($) and disposable income ($) of a random sample of 5 individuals are shown in the following table: Consumption ($) Income($) 206.3 226.5 216.7 238.6 230 252.6 236.5 257.4 254.4 275.3 (a) Identify the independent and dependent variables. (b) Estimate the simple regression model for predicting weekly consumption and interpret the estimated intercept, slope of the regression line. (c) Calculate 95% confidence interval for the population slope parameter.
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