11. Consider the relationship between the umber 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 120 154 163 179 180 Number of Bids 14 14 16 18 20 Summation table x2 y2 196 y ху Item 1 120 14 1680 14400 Item 2 154 14 2156 23716 196 Item 3 163 16 2608 26569 256 324 Item 4 179 18 3222 32041 Item 5 180 20 3600 32400 400 Sum 796 82 13266 129126 1372 Step 1. Calculate the sum of squared errors (SSE). Use the values bo = 2.3745 and b. = 0.0881 for the calculations. Round your answer to three decimal places. Answer: Step 2. Calculate the estimated variance of errors, sế Round your answer to three decimal places. Answer:

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11.
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 120 154 163 179 180
Number of Bids 14 14 16 18 20
Summation table
y
ху
x2
y2
Item 1 120 14 1680 14400 196
Item 2 154 14 2156 23716 196
Item 3 163 16 2608 26569 256
Item 4 179 18 3222 32041 324
Item 5 180 20 3600 32400 400
Sum 796 82 13266 129126 1372
= 2.3745 and
Step 1. Calculate the sum of squared errors (SSE). Use the values b,
= 0.0881 for the calculations. Round your answer to three decimal places.
Answer:
Step 2. Calculate the estimated variance of errors, sế Round your answer to three
decimal places.
Answer:
113 of 135
MAT 106.04 Professor Felix
Transcribed Image Text:11. 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 120 154 163 179 180 Number of Bids 14 14 16 18 20 Summation table y ху x2 y2 Item 1 120 14 1680 14400 196 Item 2 154 14 2156 23716 196 Item 3 163 16 2608 26569 256 Item 4 179 18 3222 32041 324 Item 5 180 20 3600 32400 400 Sum 796 82 13266 129126 1372 = 2.3745 and Step 1. Calculate the sum of squared errors (SSE). Use the values b, = 0.0881 for the calculations. Round your answer to three decimal places. Answer: Step 2. Calculate the estimated variance of errors, sế Round your answer to three decimal places. Answer: 113 of 135 MAT 106.04 Professor Felix
Step 3. Calculate the estimated variance of slope, s. Round your answer to three
decimal places.
Answer:
Step 4. Construct the 80% confidence interval for the slope. Round your answers to
three decimal places.
Answer: Lower endpoint:
Upper endpoint:
Step 5. Construct the 98% confidence interval for the slope. Round your answers to
three decimal places.
Answer: Lower endpoint:
Upper endpoint:
The following data give the number of hours 5 students spent studying and their
corresponding grades on their midterm exams.
12.
Hours Studying 3 3 4 55
Midterm Grades 72 74 74 75 79
Transcribed Image Text:Step 3. Calculate the estimated variance of slope, s. Round your answer to three decimal places. Answer: Step 4. Construct the 80% confidence interval for the slope. Round your answers to three decimal places. Answer: Lower endpoint: Upper endpoint: Step 5. Construct the 98% confidence interval for the slope. Round your answers to three decimal places. Answer: Lower endpoint: Upper endpoint: The following data give the number of hours 5 students spent studying and their corresponding grades on their midterm exams. 12. Hours Studying 3 3 4 55 Midterm Grades 72 74 74 75 79
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