HomeworkLib
Question

The data below shows age (x, in years) and weekly entertainment expenses (y, in dollars) for a random sample of ten adults. Use Excel 6 to find the slope and y-intercept for the least squares regression line Enter your answers as decimals rounded to three places. Enter a sign directly before any negative answer Slope. Y-Intercept- Entertainment expenses 197 215 85 242 159 235 192 229 195 135 Age 42 61 21 28 30 23 45 47

math   Statistics-And-Probability   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

The statistical software output for this problem is:

Simple linear regression results:
Dependent Variable: Entertainment expenses
Independent Variable: Age
Entertainment expenses = 313.90375 - 3.2598378 Age
Sample size: 10
R (correlation coefficient) = -0.89791539
R-sq = 0.80625204
Estimate of error standard deviation: 23.050272

Parameter estimates:

Parameter Estimate Std. Err. Alternative DF T-Stat P-value
Intercept 313.90375 22.94061 ? 0 8 13.683322 <0.0001
Slope -3.2598378 0.5649814 ? 0 8 -5.7698144 0.0004


Analysis of variance table for regression model:

Source DF SS MS F-stat P-value
Model 1 17687.88 17687.88 33.290758 0.0004
Error 8 4250.5202 531.31502
Total 9 21938.4

Hence,

The regression equation will be:

Slope = -3.260

y - Intercept = 313.904

0 0
Add a comment
Know the answer?
Add Answer to:
The data below shows age (x, in years) and weekly entertainment expenses (y, in dollars) for...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Mutant genes: In a study to determine whether the frequency of a certain mutant gene increases with age, the number of mutant genes per micro gram of DNA was counted for each of 15 men. The results a...

    Mutant genes: In a study to determine whether the frequency of a certain mutant gene increases with age, the number of mutant genes per micro gram of DNA was counted for each of 15 men. The results are presented in the following table Age Number of Mutants 100 46 45 53 54 68 53 57 65 47 61 70 72 82 83 52 35 68 71 49 264 29 148 195 83 449 202 a. Compute the least-squares regression line...

  • Complete parts​ (a) through​ (h) for the data below. x- 40, 50, 60, 70, 80 y-62,...

    Complete parts​ (a) through​ (h) for the data below. x- 40, 50, 60, 70, 80 y-62, 58, 55, 47, 33 B) Find the equation of the line containing the points (50, 58) and (80, 33) y=__x+(__) D) By hand, determine the least-squares regression line The equation of the​ least-squares regression line is given by ModifyingAbove y with caret equals b 1 x plus b 0y=b1x+b0 where b1 equals r times StartFraction s Subscript y Over s Subscript x EndFractionb1=r•sysx is...

  • For the data below** a. Make a scatterplot, where y=mortality and x= latitude. b. Find the...

    For the data below** a. Make a scatterplot, where y=mortality and x= latitude. b. Find the least-squares line relating mortality (y) to latitude (x). c. Plot the least-squares line on the graph from part a. d. Is the slope positive or negative? Comment on what this means. Latitude Mortality 33.0 34.5 state 1. Alabama 2. Arizona 3. Arkansas 4. California 5. Colorado 6. Connecticut . DeLaware 8. Florida 9. Georgia 10. Idaho 11. Illinois 12. Indiana 13. Iowa 14. Kansas...

  • Download the hypothesis testing dataset from the class website. 1. This is case 1, in which...

    Download the hypothesis testing dataset from the class website. 1. This is case 1, in which the value of population standard deviation is assumed to be known. a. Compute the standard deviation of the textbook price and assume this to be the population standard deviation. Type this value in E5. b. Pick a random sample of size 15. c. Compute the mean of your random sample in E4 using the AVERAGE function. d. Calculate the standard error in cell E9...

  • Organization: Freestanding ER Services Title: ER Operations Manager Outline: Multiple Regression: Effect of Age and General Health Status Score on Total ER Cost. Purpose Importance Variables Sample...

    Organization: Freestanding ER Services Title: ER Operations Manager Outline: Multiple Regression: Effect of Age and General Health Status Score on Total ER Cost. Purpose Importance Variables Sample Size Hypothesis Methodology Findings Interpretations/Implications Description of each Section Purpose: Identify the purpose of the analysis in this section. What questions do you hope to answer? Importance: State and explain the importance of this analysis to the department/organization. How will the findings be used? Variables: List all variables, explain how they will be...

  • 33 On May 6, Jim Ryan borrowed $14,000 from Lane Bank at 7 % interest. Jim...

    33 On May 6, Jim Ryan borrowed $14,000 from Lane Bank at 7 % interest. Jim plans to repay the loan on March 11. Assume the loan is on ordinary interest. How much will Jim repay on March 11? (Use Days in a year table) (Round your answer to the nearest cent.) Jm repay etbook 7-1 TABLE Exact days-in-a-year calendar (excluding leap year)" Day of month 30 31 30 31 28 31 30 31 31 30 31 31 Dec Mar...

  • I have written my code for an employee management system that stores Employee class objects into...

    I have written my code for an employee management system that stores Employee class objects into a vector, I am getting no errors until I try and compile, I am getting the error: C2679 binary '==': no operator found which takes a right-hand operand of type 'const std::string' (or there is no acceptable conversion). But I am not sure why any help would be great, Thank you! 1 2 3 4 5 6 7 8 9 10 11 12 13...

  • data: (copy and paste in excel to view columns in alignment) Sample   Repair Time (days) 1  ...

    data: (copy and paste in excel to view columns in alignment) Sample   Repair Time (days) 1   12 2   17 3   9 4   16 5   10 6   18 7   12 8   14 9   15 10   14 11   14 12   8 13   11 14   10 15   8 16   8 17   14 18   12 19   14 20   13 21   12 22   15 23   15 24   10 25   24 26   17 27   13 28   15 29   13 30   15 31   36 32   40 33  ...

  • QUESTION 7 The data set Beer Large, which can be found in StatCrunch Shared Data Sets,...

    QUESTION 7 The data set Beer Large, which can be found in StatCrunch Shared Data Sets, gives the Alcohol, Carbohydrates and Calories for different brands of beer. The explanatory variable is x + Carbohydrates and the response variable is Y - Calories. Use this information to answer: Calculate the correlation between carbohydrates and calories. (4 decimal places) Row vars varo var var 8 var9 var 10 2 الميا ABV 4.1 5.4 4.43 4.13 5.9 4.9 Carbs 2.6 13.7 5.8 5...

  • We are interested in the relationship between the compensation of Chief Executive Officers (CEO) ...

    We are interested in the relationship between the compensation of Chief Executive Officers (CEO) of firms and the return on equity of their respective firm, using the dataset below. The variable salary shows the annual salary of a CEO in thousands of dollars, so that y = 150 indicates a salary of $150,000. Similarly, the variable ROE represents the average return on equity (ROE)for the CEO’s firm for the previous three years. A ROE of 20 indicates an average return...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT