Question
Question 3: The following data shows the yearly income (in $1000) and age of a sample...
Question 3:
The following data shows the yearly income (in $1000) and age of
a sample of seven individuals.
|
Income (in $1000) |
Age |
|
20 |
18 |
|
24 |
20 |
|
24 |
23 |
|
25 |
34 |
|
26 |
24 |
|
27 |
27 |
|
34 |
27 |
- Develop the least squares regression equation.
- Estimate the yearly income of a 30-year old individual.
- Compute the coefficient of determination.
- Use a t test to determine whether the slope is significantly different from zero. Use level of significance as 0.05.
Homework Answers
Answer #1
Not the answer you're looking for?
Similar Questions
6. The following estimated regression model was developed relating yearly income (Y in $1,000s) of 30...
6. The following estimated regression model was developed
relating yearly income (Y in $1,000s) of 30 individuals with their
age (X1) and their gender (X2) (0 if male and 1 if female).
ˆ Y =20+0.7X1 +2X2 SST = 1,000 and SSE = 256
b) Is there a significant relationship between the yearly income
and the set of predictors (i.e., age and gender)? Use α=0.05 and
make sure to show all your steps.
The following data represent a company's yearly sales volume and its advertising expenditure over a period...
The following data represent a
company's yearly sales volume and its advertising expenditure over
a period of 8 years.
Sales (Millions)
Advertising ($10,000)
15
32
16
33
18
35
17
34
16
36
19
37
19
39
24
42
To make sure the Excel regression package is
installed.
Click “Tools”,
à“Add-Ins”
àchoose “Analysis Toolpak” and click
“OK”.
To use the Excel regression
package,
Click “Tools”, à“Data
Analysis” and click “Regression”.
f. Use the F test to
determine whether or not...
Age and the Price of Wine. For a particular red wine, the following data show the...
Age and the Price of Wine. For a particular red wine, the
following data show the auction price for a 750-milliliter bottle
and the age of the wine in June of 2016 (WineX website).
Age (years) 36 20 29 33 41 27 30 45 34 22
Price ($) 256 142 212 255 331 173 209 297 237 182
a. Develop a scatter diagram for these data with age as the
independent variable.
b. What does the scatter diagram developed in...
11. The following table shows the class size and the average test score Class Size 15...
11. The following table shows the class size and the average
test score
Class Size
15
17
18
20
21
24
26
29
Average Test
score
85
86
85
82
80
78
75
72
Calculate:
Coefficient of correlation ( r )
Coefficient of determination (r2)
Slope of the regression line
Intercept of the regression line
Equation of the regression line
Predicted value of test score for class size = 22
Use the following data to determine the values of the following questions. Age 23 37 26...
Use the following data to determine the values of the following
questions.
Age 23 37 26 32 42 31 41
Cholesterol 140 177 155 195 160 144 210
1 What is the dependent variable? Group of answer choices -Age
-No answer text provided. -Cholesterol -No answer text
provided.
2 What is the independent variable? Group of answer choices -No
answer text provided. -Age -No answer text provided.
-Cholesterol
3 What is the Y - intercept? Group of answer choices -1517.755...
10. The following frequency table shows the age distribution of a sample of 180 college students....
10. The following frequency table shows the age distribution of
a sample of 180 college students.
Age of Students
Number of Students
15 - 19
27
20 - 24
45
25 - 29
60
30 - 34
36
35 - 39
12
What percentage is more than 24 but younger than 35 years of
age?
78.3%
53.3%
96%
60%
The data below shows age (x, in years) and weekly entertainment expenses (y, in dollars) for...
The data below shows age (x, in years) and weekly
entertainment expenses (y, in dollars) for a random sample
of ten adults. The least squares regression model for this data is
yˆ=344.07 − 4.21x.y^=344.07 − 4.21x. Select all valid statements
regarding the use of this regression model.
You must make a selection for each option. Click once to
place a check mark for correct answers and click twice to place an
"x" for the wrong answers.
It is appropriate to...
The table below shows a sample of the distribution of income per age group for clients...
The table below shows a sample of the distribution of income per
age group for clients that have bought an iPad in 2019
Age
<$25,000
$25,000-50,000
>$50,000
<25 years old
5%
10%
4%
25-35 years old
5%
20%
12%
36-55 years old
7%
15%
9%
>55 years old
3%
5%
5%
Determine the following probabilities:
4) P (income more than $25,000) =
5) P P (Income less than $50,000) =
6) P (Age more than 55 years old) =
7)...
The accompanying table shows a portion of data consisting of the selling price, the age, and...
The accompanying table shows a portion of data consisting of the
selling price, the age, and the mileage for 20 used sedans.
Selling Price
Age
Miles
13,604
7
61,459
13,831
7
54,341
⋮
⋮
⋮
11,951
9
42,432
a. Determine the sample regression equation
that enables us to predict the price of a sedan on the basis of its
age and mileage. (Negative values should be indicated by a
minus sign. Round your answers to 2 decimal places.) [If you...
A random sample of 11 hikers produced the following data, where x is the age of...
A random sample of 11 hikers produced the following data, where
x is the age of the hiker, and y is the maximum number of miles
hiked per week. The data are presented below in the table of
values.
x y
6 19
7 26
10 35
13 34
14 36
17 45
18 44
20 54
23 48
24 67
25 53
What is the value of the intercept of the regression line, b,
rounded to one decimal place?...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 2 minutes ago
asked 25 minutes ago
asked 34 minutes ago
asked 34 minutes ago
asked 40 minutes ago
asked 40 minutes ago
asked 42 minutes ago
asked 51 minutes ago
asked 52 minutes ago
asked 57 minutes ago
asked 1 hour ago
asked 1 hour ago