37.5 5.9894 37.9 7.5422 44.5 8.7951 37.9 6.0831 38.9 8.3607 36.9 8.1400 45.8 9.1416 (a) Calculate the least squares estimates of the slope and intercept. i (Round your answer to 3 decimal places.) i (Round your answer to 2 decimal places.) (b) Find the mean selling price given that the taxes paid are x = 8.4. i (Round your answer to 2 decimal places.) (c) Calculate the fitted value of y corresponding tox = 5.6039 (observation #8). Find the corresponding residual. y = (Round your answer to 2 decimal places.) y - ŷ = (Round your answer to 2 decimal places.) Statistical Tables and Charts

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

3

An article in Technometrics by S. C. Narula and J. F. Wellington ("Prediction, Linear Regression, and a Minimum Sum of Relative Errors,
Vol. 19, 1977) presents data on the selling price (y) and annual taxes (x) for 24 houses. The taxes include local, school and county taxes
The data are shown in the following table.
Sale Price/1000 Taxes/1000
25.9
4.9176
29.5
5.0208
27.9
4.5429
25.9
4.5573
29.9
5.0597
29.9
3.8910
30.9
5.8980
28.9
5.6039
35.9
5.8282
31.5
5.3003
31.0
6.2712
30.9
5.9592
30.0
5.0500
36.9
8.2464
41.9
6.6969
40.5
7.7841
43.9
9.0384
Transcribed Image Text:An article in Technometrics by S. C. Narula and J. F. Wellington ("Prediction, Linear Regression, and a Minimum Sum of Relative Errors, Vol. 19, 1977) presents data on the selling price (y) and annual taxes (x) for 24 houses. The taxes include local, school and county taxes The data are shown in the following table. Sale Price/1000 Taxes/1000 25.9 4.9176 29.5 5.0208 27.9 4.5429 25.9 4.5573 29.9 5.0597 29.9 3.8910 30.9 5.8980 28.9 5.6039 35.9 5.8282 31.5 5.3003 31.0 6.2712 30.9 5.9592 30.0 5.0500 36.9 8.2464 41.9 6.6969 40.5 7.7841 43.9 9.0384
37.5
5.9894
37.9
7.5422
44.5
8.7951
37.9
6.0831
38.9
8.3607
36.9
8.1400
45.8
9.1416
(a) Calculate the least squares estimates of the slope and intercept.
i
(Round your answer to 3 decimal places.)
i
(Round your answer to 2 decimal places.)
(b) Find the mean selling price given that the taxes paid are x = 8.4.
i
(Round your answer to 2 decimal places.)
(c) Calculate the fitted value of y corresponding tox = 5.6039 (observation #8). Find the corresponding residual.
y =
(Round your answer to 2 decimal places.)
y - ŷ =
(Round your answer to 2 decimal places.)
Statistical Tables and Charts
Transcribed Image Text:37.5 5.9894 37.9 7.5422 44.5 8.7951 37.9 6.0831 38.9 8.3607 36.9 8.1400 45.8 9.1416 (a) Calculate the least squares estimates of the slope and intercept. i (Round your answer to 3 decimal places.) i (Round your answer to 2 decimal places.) (b) Find the mean selling price given that the taxes paid are x = 8.4. i (Round your answer to 2 decimal places.) (c) Calculate the fitted value of y corresponding tox = 5.6039 (observation #8). Find the corresponding residual. y = (Round your answer to 2 decimal places.) y - ŷ = (Round your answer to 2 decimal places.) Statistical Tables and Charts
Expert Solution
steps

Step by step

Solved in 5 steps

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman