Question

8. 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 items sold through an auction.

Price in Dollars 20   36 38 41 42

Number of Bids 5 5 5 8 8

Step 1 of 5: Calculate the sum of squared errors (SSE). Use the values b0= 2.1396 and b1= 0.1147 for the calculations. Round your answer to three decimal places.

Step 2 of 5: Calculate the estimated variance of errors, s2e. Round your answer to three decimal places.

Step 3 of 5: Calculate the estimated variance of slope, s2b1. Round your answer to three decimal places.

Step 4 of 5: Construct the 95% confidence interval for the slope. Round your answers to three decimal places.

Lower endpoint and Upper endpoint

Step 5 of 5: Construct the 90% confidence interval for the slope. Round your answers to three decimal places.

Lower endpoint and Upper endpoint

Answer 1