Reference no: EM131709583

Question: For the situation of problem, find the standard errors of the estimates of the regression parameters; give an estimate of the variance of the regression errors. Also give a 95% confidence interval for the true regression slope. Is zero a plausible value for the true regression slope at the 95% level of confidence?

Problem: Recently, research efforts have focused on the problem of predicting a manufacturer's market share by using information on the quality of its product. Suppose that the following data are available on market share, in percentage (Y ), and product quality, on a scale of 0 to 100, determined by an objective evaluation procedure (X ):

X:        27         39         73         66         33           43          47          55           60        68         70          75          82

Y:        2           3          10          9          4             6            5           8             7         9           10         13           12

Estimate the simple linear regression relationship between market share and product quality rating.