Question 8 An article in Technometrics by S. C. Narula and J. F. Wellington ["Prediction, Linear Regression, and a Minimum Sum of Relative Errors" (Vol. 19, 1977) presents data on the selling price and annual taxes for 24 houses. The data are shown in the following table. X is taxes paid. Taxes Sale (Local, School), Price/1000 Countyy1000 25.9 4.9176 295 5.0208 27.9 4.5429 25.9 4.3373 29.9 5.0597 29.9 3.8910 309 5.8980 289 5.6039 35.9 S.82K2 31.5 5.3003 31.0 6.2712 30.9 5.9592 (a) Assuming that a simple linear regression model is appropriate, obtain the regression equation applicable and compute for the coefficient of determination. (b) Test the significance of the correlation coefficient. (C) Find the mean selling price given that the taxes paid is 6.111.
Question 8 An article in Technometrics by S. C. Narula and J. F. Wellington ["Prediction, Linear Regression, and a Minimum Sum of Relative Errors" (Vol. 19, 1977) presents data on the selling price and annual taxes for 24 houses. The data are shown in the following table. X is taxes paid. Taxes Sale (Local, School), Price/1000 Countyy1000 25.9 4.9176 295 5.0208 27.9 4.5429 25.9 4.3373 29.9 5.0597 29.9 3.8910 309 5.8980 289 5.6039 35.9 S.82K2 31.5 5.3003 31.0 6.2712 30.9 5.9592 (a) Assuming that a simple linear regression model is appropriate, obtain the regression equation applicable and compute for the coefficient of determination. (b) Test the significance of the correlation coefficient. (C) Find the mean selling price given that the taxes paid is 6.111.
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
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Transcribed Image Text:Question 8
An article in Technometrics by S. C. Narula and J. F. Wellington ["Prediction, Linear Regression, and a Minimum Sum of Relative
Errors" (Vol. 19, 1977)) presents data on the selling price and annual taxes for 24 houses. The data are shown in the following table.
X is taxes paid.
Taxes
Sale (Local, School).
Price/1000 Countyy1000
25.9
4.9176
29.5
5.0208
27.9
4.3429
25.9
4.5573
29.9
5.0597
29.9
3.8910
30.9
5.3980
28.9
5.6039
35.9
S.8282
31.3
5.3003
31.0
6.2712
30.9
5.9592
(a) Assuming that a simple linear regression model is appropriate, obtain the regression equation applicable and compute for the
coefficient of determination.
(b) Test the significance of the correlation coefficient.
(C) Find the mean selling price given that the taxes paid is 6.111.
(d) Construct a 95% Confidence Interval for the mean selling price computed in (C).
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