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 21 22 22 2331 Number of Bids 1 3 3 6 8 Summation table x2 y2 У ху 1 21 441 Item 2 22 3 66 484 9 Item 3 22 3 66 484 9 Item 4 23 6 138 529 36 Item 5 31 8 248 961 64 Sum 119 21 539 2899 119 X Item 1 21 1

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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.
13.
Price in Dollars 21 22 22 23 31
Number of Bids 1 3 3 68
Summation table
x2 y2
у ху
1 21 441
Item 2 22 3 66 484
Item 3 22 3 66
Item 4 23 6 138 529 36
Item 5 31 8 248 961 64
Sum 119 21 539 2899 119
Item 1 21
1
9
484
9
nswenA
Step 1. Calculate the sum of squared errors (SSE). Use the values bo = -9.7658 and
b, = 0.5868 for the calculations. Round your answer to three decimal places.
Answer:
Step 2. Calculate the estimated variance of errors, s. Round your answer to three
decimal places.
Answer:
116 of 135
MAT 106.04 Professor Felix
Step 3. Calculate the estimated variance of slope, sf,. Round your answer to three
decimal places.
Answer:
Transcribed Image Text: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. 13. Price in Dollars 21 22 22 23 31 Number of Bids 1 3 3 68 Summation table x2 y2 у ху 1 21 441 Item 2 22 3 66 484 Item 3 22 3 66 Item 4 23 6 138 529 36 Item 5 31 8 248 961 64 Sum 119 21 539 2899 119 Item 1 21 1 9 484 9 nswenA Step 1. Calculate the sum of squared errors (SSE). Use the values bo = -9.7658 and b, = 0.5868 for the calculations. Round your answer to three decimal places. Answer: Step 2. Calculate the estimated variance of errors, s. Round your answer to three decimal places. Answer: 116 of 135 MAT 106.04 Professor Felix Step 3. Calculate the estimated variance of slope, sf,. Round your answer to three decimal places. Answer:
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