Question

How much does household weekly income affect the household weekly expenditure on food? The following data...

How much does household weekly income affect the household weekly expenditure on food?
The following data shows household weekly expenditure on food and the household weekly income (all in dollars).

Use the data below to develop an estimated regression equation that could be used to predict food expenditure for a weekly income.

Use Excel commands for your calculations.

FOOD

INCOME

y

x

91

292

148

479

107

428

146

766

243

1621

312

1661

243

1292

272

1683

349

1808

223

1147

205

1648

182

1351

414

1919

291

2046

212

1577

298

1805

374

2031

141

1618

205

1999

387

1953

426

2114

136

1606

273

1833

400

2166

192

2124

25

The margin of error for a 95% confidence interval for the population slope parameter is,

a

0.0721

7.2

¢

b

0.0627

6.3

¢

c

0.0545

5.5

¢

d

0.0463

4.6

¢

26

The upper boundary of the 95% interval estimate for β₁ is,

a

0.1870

18.7

¢

b

0.1795

18.0

¢

c

0.1687

16.9

¢

d

0.1552

15.5

¢

27

The value of the test statistic to test the hypothesis that weekly income has no impact on food expenditure is,

a

6.030

b

5.025

c

4.020

d

3.216

Homework Answers

Answer #1

from excel: data-data analysis:regression :below is the output for slope:

Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0%
Intercept 44.36508 43.42596 1.021626 0.317584 -45.4684 134.1985 -45.4684 134.1985
x 0.132442 0.026355 5.025345 4.38E-05 0.077923 0.186961 0.077923 0.186961

25)

  margin of error for a 95% confidence interval =(upper limit-lower limit)/2=0.0545

26) upper boundary of the 95% interval estimate for β =0.1870

27)

value of the test statistic =5.025

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