a) Write the regressed equation and interpret it. b) Construct a confidence interval for the slope at 95% confidence level. c) Test whether the slope is less than 0.35 at 90% confidence level.
The output table below represents the results of the estimation of household expenditures (Y) and income (X) in thousand dollars. Considering the results, answer the following questions.
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Dependent Variable: Y |
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Method: Least Squares |
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Date: 01/07/16 Time: 11:22 |
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Sample: 2000 2015 |
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Included observations: 16 |
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Variable |
Coefficient |
Std. Error |
t-Statistic |
Prob. |
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C |
-0.241942 |
2.452237 |
-0.098662 |
0.9228 |
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X |
0.363176 |
0.013890 |
26.14674 |
0.0000 |
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R-squared |
0.979933 |
Mean dependent var |
55.43750 |
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Adjusted R-squared |
0.978499 |
S.D. dependent var |
33.17221 |
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S.E. of regression |
4.864079 |
Akaike info criterion |
6.118100 |
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Sum squared resid |
331.2297 |
Schwarz criterion |
6.214674 |
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Log likelihood |
-46.94480 |
Hannan-Quinn criter. |
6.123046 |
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F-statistic |
683.6522 |
Durbin-Watson stat |
0.632113 |
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Prob(F-statistic) |
0.000000 |
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a) Write the regressed equation and interpret it.
b) Construct a confidence interval for the slope at 95% confidence level.
c) Test whether the slope is less than 0.35 at 90% confidence level.
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