10. Fit a straight line trend to the data given below by the method of least squares. Year: 1989 1990 1994 1991 1992 1993 Output: 672 824 968 1205 1464 1758 (Rs Crore)
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- Explain what are the least-squares line and Regression?Suppose the (X,Y) pairs are: (1,5), (2, 3), (3, 4), (4,2), (5,3), (6, 1). Would the least squares fit to these data be much different from the least squares fit to the same data with the first pair replaced by (1,15)? Briefly explain.A world wide fast food chain decided to carry out an experiment to assess the influence of income on number of visits to their restaurants or vice versa. A sample of households was asked about the number of times they visit a fast food restaurant (X) during last month as well as their monthly income (Y). The data presented in the following table are the sums and sum of squares. (use 2 digits after decimal point) ∑ Y = 393 ∑ Y2 = 21027 ∑ ( Y-Ybar )2 = SSY = 1720.88 ∑ X = 324 ∑ X2 = 14272 ∑ ( X-Xbar )2 = SSX = 1150 nx=8 ny=11 ∑ [ ( X-Xbar )( Y-Ybar) ] =SSXY=1090.5 PART A Sample mean income is Answer Sample standard deviation of income is Answer 90% confidence interval for the population mean income (hint: assume that income distributed normally with mean μ and variance σ2) is [Answer±Answer*Answer] 90% confidence interval for the population variance of income (hint: assume that income distributed normally with mean μ and variance σ2) is…
- 58. Fit a straight line trend by least squares method and tabulate the trend Pvalues from the following figures of production of a cement factory : Year Production ('000 tonnes) : 2008 77 2009 88 2010 94 2011 2013 2012 91 2014 90 85 98A least squares line for a sample with 11 observations has an SSE = 192; calculate and s. Please show your work So i can understand how you arrived at the answerThe following gives the number of accidents that occurred on Florida State Highway 101 during the last 4 months: Month Number of Accidents Jan 25 Feb 40 Mar 60 Apr 90 Using the least-squares regression method, the trend equation for forecasting is (round your responses to two decimal places): ŷ-0-0x Using least-squares regression, the forecast for the number of accidents that will occur in the month of May = accidents (enter your response as a whole number).
- Describe in your own words what it means to perform a linear least squares analysis. Provide an example to substantiate your claimsUsing the guide of the textbook and your RQ, determine the equation of the least-square line for the following data: 1 6 3. Select the correct answer in the slope-intercept form. O y=-x+10.5 O y=-2x+11 O y=x O y=x+10 O x+y=11Students who are going to college have a cost per credit. The chart below is a cost of tuition cost increase over the years. A table of the yearly cost is listed below. A) Use technology (graphing calculator or excel) to determine the least squares regression line for the best fit line for the data given above. List the equation and R^2 Regression factor. B) Use your equation from technology to estimate how much college credits will cost in 2021