Based on a sample of n= 23, the least-squares method was used to develop the prediction line Y, = 8+ 3X,. In addition, Syy = 3.8, X= 6, and > (x -X)2 = 23. Complete parts (a) and (b) below. i=1 Click here for page 1 of critical values of t. Click here for page 2 of critical values of t. a. Construct a 90% confidence interval estimate of the population mean response for X = 4. (Round to four decimal places as needed.) b. Construct a 90% prediction interval of an individual response for X= 4. (Round to four decimal places as needed.)
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- When we use a least-squares line to predict y values for x values beyond the range of x values found in the data, are we extrapolating or interpolating? Are there any concerns about such predictions?An agent for a residential real estate company in a large city would like to be able to predict the monthly rental cost for apartments, based on the size of an apartment, as defined by square footage. The agent selects a sample of 25 apartments in a particular residential neighborhood and gathers the following data a. Construct a scatter plot. b. Use the least-squares method to determine the regression coefficients b0 and b1 c. Interpret the meaning of and in this problem. d. Predict the monthly rent for an apartment that has 1,000 square feetThe following table shows the length, in centimeters, of the humerus and the total wingspan, in centimeters, of several pterosaurs, which are extinct flying reptiles. (A graphing calculator is recommended.) (a) Find the equation of the least-squares regression line for the data. (Where × is the independent variable.) Round constants to the nearest hundredth. y= ? (b) Use the equation from part (a) to determine, to the nearest centimeter, the projected wingspan of a pterosaur if its humerus is 52 centimeters. ? cm
- For variables x1, x2, x3, and y satisfying the assumptions for multiple linear regression inferences, the population regression equation is y = 27 – 4.7x1 + 2.3x2 + 5.8x3. For samples of size 20 and given values of the predictor variables, the distribution of the estimates of ß1 for all possible sample regression planes is a _________ distribution with mean a_________ and standard deviation _______.Are the following statements true or false? Explain your answer.a. “An ordinary least squares regression of Y onto X will not be internallyvalid if Y is correlated with the error term.”b. “If the error term exhibits heteroskedasticity, then the estimates of Xwill always be biased.”Years of Work Experience and number of Job Offers of 10 job-seekers were as follows: Work Exp. 4 2 5 3 7 12 2 5 4 9 No. of Offers 7 1 8 4 13 19 3 11 9 15 a. Fit the regression equation of No. of Job Offers on Years of Work Experience. b. What will be the predicted number of offers for an applicant with 6 years of experience? c. Verify the relationship between the number of job offers and years of work experience using at least two relevant methods
- The least-squares regression line relating two statistical variables is given as = 24 + 5x. Compute the residual if the actual (observed) value for y is 38 when x is 2. 4 38 2Based on a sample of n=30,the least-squares method was used to develop the prediction line Yi=4+5Xi. In addition, SYX=3.2, X=7, and ∑i=1nXi−X2=30.Complete parts (a) and (b) below. a. Construct a 95% confidence interval estimate of the population mean response for X=3. ? ≤μY|X=3≤ ? (Round to four decimal places as needed.) b. Construct a 95% prediction interval of an individual response for X=3. ? ≤YX=3≤ ? (Round to four decimal places as needed.) Find the critical value, the computed t-value, and whether to reject or accept the null hypothesis.
- In a regression based on 30 annual observations, U.S. farm income was related to four independent variables—grain exports, federal government subsidies, population, and a dummy variable for bad weather years. The model was fitted by least squares, resulting in a Durbin-Watson statistic of 1.29. The regression of e2i on ŷi yielded a coefficient of determination of 0.043.a. Test for heteroscedasticity.b. Test for autocorrelated errors.1) Calculate the slope b1 and intercept b0 of the least squares prediction line y = b0 + b1x where the x-variable is time spent on Facebook and the y-variable is GPA. a) slope b) intercept 2) what is the predicted GPA of a student that spends 60 minutes a day on Facebook?We have estimated the impact of gross domestic product (GDP), energy consumption (ENERGY) and population (POP) on CO2 emiisions (CO2) in Cyprus. The results are as follows; Dependent Variable: CO2 Method: Least Squares Date: 04/20/17 Time: 09:46 Sample: 1990 2013 Included observations: 24 Variable Coefficient Std. Error t-Statistic Prob. C 2.002813 6.458672 0.310097 0.7597 GDP 0.022114 0.011872 1.862670 0.0773 ENERGY -0.734352 0.328388 -2.236233 0.0369 POP 0.203927 0.293686 0.694371 0.4954 R-squared 0.825079 Mean dependent var 3.625982 Adjusted R-squared 0.798841 S.D. dependent var 0.108170 S.E. of regression 0.048515 Akaike info criterion -3.062883 Sum squared resid 0.047074 Schwarz criterion -2.866541 Log likelihood 40.75460 Hannan-Quinn criter. -3.010793 F-statistic 31.44583 Durbin-Watson stat 1.410912…