Solution:
We are given the data on the number of bids an items on eBay received and the items selling price.
Part 3) We have to find the estimated variance of slope, that is: S2b1
Thus we need to make following table:
x: Price | y: Number of Bids | x^2 | y^2 | xy |
29 | 2 | 841 | 4 | 58 |
32 | 3 | 1024 | 9 | 96 |
40 | 7 | 1600 | 49 | 280 |
45 | 8 | 2025 | 64 | 360 |
49 | 9 | 2401 | 81 | 441 |
Thus
Thus
Thus estimated variance is given by:
Part 4) 95% confidence interval for slope:
Formula:
where
and
Thus we need to find t critical value for c = 95% confidence level.
Thus two tailed area = 1 - c = 1 - 0.95 = 0.05
and df = n - 2 = 5 - 2 = 3
Thus look in t table for df = 3 and two tail area = 0.05 and find t critical value.
Thus from t table , we get:
tc = 3.182
Thus
Thus
Lower end point =
Upper end point =
Lower end point = 0.256
Upper end point = 0.471
Part 5) 90% confidence interval for slope:
Formula:
We need to find t critical value for c = 90% confidence level.
Thus two tailed area = 1 - c = 1 - 0.90 = 0.10
and df = n - 2 = 5 - 2 = 3
Thus look in t table for df = 3 and two tail area = 0.10 and find t critical value.
Thus from t table , we get:
tc = 2.353
Thus
Thus
Lower end point =
Upper end point =
Thus
Lower end point =0.284
Upper end point = 0.443
Consider the relationship between the number of bids an item on eBay received and the item's...
Please rate I’ll give a thumbs up! 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 29 32 40 45 49 Number of Bids 23 7 89 Table Copy Data Step 1 of S: Calculate the sum of squared errors (SSE). Use the values bo-8.3804 and b10.3636 for the calculations. Round your answer to three decimal...
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 9 32 40 45 49 Number of Bids 23 78 9 Table Copy Data Step 2 of 5: Calculate the estimated variance of errors, s2. Round your answer to three decimal places. Answer(How to Enter) 2 Points Keypadables rev Next
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 23 26 32 41 Number of Bids 11 13 15 18 20 Step 3 of 3 : Calculate the correlation coefficient, r. Round your answer to three decimal places.
00:46:48 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 50 Price in Dollars 26 35 38 41 Number of Bids 13 14 16 18 19 Copy Data Step 3 of 3: Calculate the correlation coefficient, r. Round your answer to three decimal places. Answer How to Enter) 2 Points Keypad Keyboard Shortcuts < Prev NO
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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 26 41 44 47 Number of Bids 10 11 15 16 19 Calculate the correlation coefficient, r. Round your answer to three decimal places.
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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 | 23 26 | 41 47 50 Number of Bids 12 15 17 18 19 Copy Data Calculate the correlation coefficient, r. Round your answer to three decimal places.
Please help with this problem! It has five parts uestion 5 of 11 Step 1 of 5 01:20:14 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 29 32 40 45 49 Number of Bids 2 3 7 89 Table Copy Data Step 1 of S: Calculate the sum of squared errors (SSE), Use the values...
Consider the relationship between the number of bids an iten on eBay received and the item's selling price. The following is a sample of through an auction. Price in Dollars 21 32 36 45 49 Number of Bids 2 4 7 8 8 Table Copy Data Step 1 of 5: Calculate the sum of squared errors (SSE). Use the values bo--2.6253 and b three decimal places. 0.2302 for the calculations. Round your answer to