Determining standard error of estimate

Assignment Help Basic Statistics

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

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