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a. Give the value of the correlation coefficient and interpret its meaning. -Correlation Coefficient r= 0.9598472 b. Compute the least-squares regression line for predicting energy consumption (y) from income (x). D. S c. Interpret the value of the slope.

a. Give the value of the correlation coefficient and interpret its meaning. -Correlation Coefficient r= 0.9598472 b. Compute the least-squares regression line for predicting energy consumption (y) from income (x). D. S c. Interpret the value of the slope.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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  1. Predict the amount of energy consumption for a household with an income of $150,000. Round to the nearest tenth.
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Energy Consumption: @mple of ten households was monitored for one year. The household income (in $1000s) and the amount of energy consumed (1010 joules) were determined. The results follow. Income Energy Income Energy 31 40 28 48 195 Multiple R R Square 16.0 40.2 Intercept Income 29.8 45.6 96 Adjusted R Square Standard Error Observations 70 100 98.3 93.8 The following output was obtained after performing regression analysis in Excel: Regression Statistics 77.1 145 114.8 184.6 78 67.0 0.9598472 0.92130665 0.91146998 14.754434 c. Interpret the value of the slope. 10 coefficients std. error t (df=8) 0.325169 8.940931 4.1659 0.888239 0.091781 9.677832 0.00000522134 p-value 0.753394 a. Give the value of the correlation coefficient and interpret its meaning. -Correlation Coefficient r= 0.9598472 Lower 95% -17.710512 0.675 Upper 95% 23.525136 1.095 b. Compute the least-squares regression line for predicting energy consumption (y) from income (x).
Transcribed Image Text:Energy Consumption: @mple of ten households was monitored for one year. The household income (in $1000s) and the amount of energy consumed (1010 joules) were determined. The results follow. Income Energy Income Energy 31 40 28 48 195 Multiple R R Square 16.0 40.2 Intercept Income 29.8 45.6 96 Adjusted R Square Standard Error Observations 70 100 98.3 93.8 The following output was obtained after performing regression analysis in Excel: Regression Statistics 77.1 145 114.8 184.6 78 67.0 0.9598472 0.92130665 0.91146998 14.754434 c. Interpret the value of the slope. 10 coefficients std. error t (df=8) 0.325169 8.940931 4.1659 0.888239 0.091781 9.677832 0.00000522134 p-value 0.753394 a. Give the value of the correlation coefficient and interpret its meaning. -Correlation Coefficient r= 0.9598472 Lower 95% -17.710512 0.675 Upper 95% 23.525136 1.095 b. Compute the least-squares regression line for predicting energy consumption (y) from income (x).
d. Predict the amount of energy consumption for a household with an income of $150,000. Round to the nearest tenth. e. What is the 95% confidence interval for the slope. You do not have to interpret the results. f. Construct a 99% confidence interval for the slope. You do not have to interpret the results. g. Test Ho: P₁ = 0 versus H₁: B₁ > 0. Can you conclude that income is useful in predicting energy consumption? Use the a= 0.05 level of significance. i. Is this a left-tailed test, a right-tailed test, or a two-tailed test? ii. iii. iv. What is the value of the test statistic? Do not round. Identify the p-value for this procedure. Do not round. Using the p-value method, should Ho be rejected at the a = 0.05 level of significance? Why or why not?
Transcribed Image Text:d. Predict the amount of energy consumption for a household with an income of $150,000. Round to the nearest tenth. e. What is the 95% confidence interval for the slope. You do not have to interpret the results. f. Construct a 99% confidence interval for the slope. You do not have to interpret the results. g. Test Ho: P₁ = 0 versus H₁: B₁ > 0. Can you conclude that income is useful in predicting energy consumption? Use the a= 0.05 level of significance. i. Is this a left-tailed test, a right-tailed test, or a two-tailed test? ii. iii. iv. What is the value of the test statistic? Do not round. Identify the p-value for this procedure. Do not round. Using the p-value method, should Ho be rejected at the a = 0.05 level of significance? Why or why not?
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