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Use the provided output to solve the problem: Calculate a 95% confidence interval for the mean wage (in thousands of dollars) of union members with

Use the provided output to solve the problem:

Calculate a 95% confidence interval for the mean wage (in thousands of dollars) of union members with 10 years of service.

Mean Wage = 70.48333

Regression Output:

Simple linear regression results:

Dependent Variable: Wages Independent Variable: LOS Wages = 43.898554 + 0.059247663 LOS Sample size: 58 R (correlation coefficient) = 0.30409097 R-sq = 0.092471321 Estimate of error standard deviation: 9.6517109

Parameter estimates:

Parameter Estimate Std. Err. Alternative DF T-Stat P-value
Intercept 43.898554 2.1319695 0 56 20.590611 <0.0001
Slope 0.059247663 0.02480298 0 56 2.3887317 0.0203

Analysis of variance table for regression model:

Source DF SS MS F-stat P-value
Model 1 531.54904 531.54904 5.7060389 0.0203
Error 56 5216.7093 93.155523
Total 57 5748.2583

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