Determining standard error of estimate

Reference no: EM1320447

Q1) Data for sample of houses sold recently in suburb of a large metropolis are given below:

Area of House (hundreds of square feet)	Selling Price (thousands of dollars)
20	250
19	220
27	350
28	390
30	320
15	200
25	360
23	290
18	210
35	410

(a) Do scatter diagram for data, insert trend line and add equation and R² value to diagram.

(b) Determine SS_xx, SS_yy and SS_xy.

d) Now, create the regression report. Compare equation from regression report with equation obtained manually and while doing the scatter plot.

e) Determine SS_yy, SSR, SSE.

f) Determine the degrees of freedom associated with the sum of squares in part (a).

g) Determine MSR and MSE.

h) Summarize your findings as ANOVA table.

i) Determine the coefficient of determination R².

j) Determine standard error of the estimate s_e

k) Test hypothesis that Y and X are not related. That is, test H₀: b₁= 0 vs. H₁: b₁¹ 0 by using t-statistic. Use a = 0.05.

l) Determine predicted value of Y given X = 24. Give interpretation of predicted value in context of problem.

m) Determine 95 % confidence interval for mean value of Y given X = 24. Give interpretation of confidence interval in context of the problem.

Reference no: EM1320447

Questions Cloud

Utcome reveal about the size of the multiplier : Illustrate what does this outcome reveal about the size of the multiplier

How far will the mass travel before coming to rest : An object of mass "m" is thrown up an inclined plane of angle "theta" with an initial velocity "v knot". If the motion is resisted by retarding force Fr=-kv (where k is a force coefficient and v the velocity of the object.)

Country initially has no restrictions on trade : Assume that the country initially has no restrictions on trade also then imposes an import quota

Write a linear regression equation : Write a linear regression equation for these data and forecast how much money Robert will win if he spends $28.

Determining standard error of estimate : Determine the coefficient of determination R 2 . Determine standard error of the estimate s e .

Will the observed pitch be higher or lower : A rookie quarterback throws a football with an initial upward velocity component of 15.33 and a horizontal velocity component of 20.4. Overlook air resistance.

Esource prices return to original levels : If the resource prices return to original levels, but a new technique is invented that can produce.

Similarity of observed distribution as expected distribution : At the .05 significance level, can we conclude that the guideline is still reasonable?

Industrys profit maximizing output level : Illustrate what is the industry's profit maximizing output level. Is the organization in long-run equilibrium.

User Account

All Pages