Question

Price in Dollars	27 27	28 28	29 29	31 31	39 39
Number of Bids	3 3	7 7	8 8	9 9	10 10

Table

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Step 3 of 5: Calculate the estimated variance of slope,

s

2

b

1

sb12. Round your answer to three decimal places.

Consider the relationship between the number of bids an item on eBay received and the item's selling price. The following is a sample of

5

5 items sold through an auction.

Price in Dollars	27 27	28 28	29 29	31 31	39 39
Number of Bids	3 3	7 7	8 8	9 9	10 10

Table

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Step 4 of 5: Construct the

98%

98% confidence interval for the slope. Round your answers to three decimal places.

Consider the relationship between the number of bids an item on eBay received and the item's selling price. The following is a sample of

5

5 items sold through an auction.

Price in Dollars	27 27	28 28	29 29	31 31	39 39
Number of Bids	3 3	7 7	8 8	9 9	10 10

Table

Copy Data

Step 5 of 5: Construct the

95%

95% confidence interval for the slope. Round your answers to three decimal places.

Answer 1

The statistical software output for this problem is:

Hence,

Step - 3: Variance of Slope = (0.218655)² = 0.048

Step - 4: 98% confidence interval:

Lower limit = -0.579

Upper limit = 1.407

Step - 5: 95% confidence interval:

Lower limit = -0.282

Upper limit = 1.110