1) What is the slope(b1) and what is its statistical interpretation?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
Problem 4GP
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1) What is the slope(b1) and what is its statistical interpretation? 

2) Perform the test of hypothesis (t-test) on the following and state your statistical decision.

Use   α = 0.01. Please show all the relevant calculations. 

H0: β1 = 0

H1: β1 ≠ 0

3) Perform the test of hypothesis (F-test) on the following and state your statistical decision.

Use α = 0.01. Please show all the relevant calculations.  

H0: β1 = 0

H1: β1 ≠ 0

4) What is the coefficient of determination (r2) i.e., percentage of variability in the monthly rent explained by the independent variable rental property area? Please show all the relevant calculations.  

5) What is the 99% confidence interval for the population slope(β1)? Please show all the relevant calculations.?

 

Question B:
Consider the partially completed Excel regression analysis shown below between the independent variable rental property area (in square feet) and the dependent
variable monthly rent (in dollars) and answer the following questions.
Regression Statistics
Multiple R
R Square
Adjusted R Square
Standard Error
0.64
Observations
14
ANOVA
Significance
df
ss
MS
IF
Regression
Residual
0.83
0.415
Total
3
14.75
Standard
Coefficients Error
t Stat
P-value
Lower 95% Upper 95%
Intercept
2.51
0.80
0.61
0.10
Transcribed Image Text:Question B: Consider the partially completed Excel regression analysis shown below between the independent variable rental property area (in square feet) and the dependent variable monthly rent (in dollars) and answer the following questions. Regression Statistics Multiple R R Square Adjusted R Square Standard Error 0.64 Observations 14 ANOVA Significance df ss MS IF Regression Residual 0.83 0.415 Total 3 14.75 Standard Coefficients Error t Stat P-value Lower 95% Upper 95% Intercept 2.51 0.80 0.61 0.10
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