Use again the data given for question 1.

(a) Find the standard deviation of the regression line’s slope sb.

(b) Find an interval that you can be 95 % confident will contain

b, the slope of the population regression line.

Question 1

Here x is the number of units of a product produced during a certain period, and y represents total variable costs incurred during the period.

(a) Find the estimated equation for the regression of y on x.

(b) Find the predicted value of y given x = 8.

(c) Find the standard error of estimate.

(d) Find the coefficient of determination r².