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 55 items sold through an auction.
Price in Dollars | 104 | 141 | 153 | 173 | 185 |
---|---|---|---|---|---|
Number of Bids | 11 | 11 | 11 | 18 | 19 |
Step 1 of 5:
Calculate the sum of squared errors (SSE). Use the values b0=−2.1784 and b1=0.1070 for the calculations. Round your answer to three decimal places.
Step 2 of 5:
Calculate the estimated variance of errors, s2ese2. 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 90% confidence interval for the slope. Round your answers to three decimal places.
....lower endpoint...uppper endpoint
Step 5 of 5:
Construct the 95% confidence interval for the slope. Round your answers to three decimal places.
....lower endpoint...upper endpoint
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