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/100025.94.917629.55.020827.94.542925.94.557329.95.059729.93.891030.95.898028.95.603935.95.828231.55.300331.06.271230.95.959230.05.050036.98.246441.96.696940.57.784143.99.038437.55.989437.97.542244.58.795137.96.083138.98.360736.98.140045.89.1416 (a) Calculate the least squares estimates of the slope and intercept.i(Round your answer to 3 decimal places.)Bo = 1(Round your answer to 2 decimal places.)(b) Find the mean selling price given that the taxes paid arex- 8.3.(Round your answer to 2 decimal places.)(c) Calculate the fitted value of y corresponding to x- 6.6969 (observation #15). Find the corresponding residual.ŷ = i(Round your answer to 2 decimal places.)y – ý =(Round your answer to 2 decimal places.)

(a) The sums are, y x x2 xy 25.9 4.9176 24.18278976 127.36584 29.5 5.0208 25.20843264…

Answered: (a) Calculate the least squares…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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The first image is question and the second one is R output.
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