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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% condence interval for the population slope parameter
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