Question 1 The National Highway Association is studying the relationship between the number of bidders on a highway project and the winning (lowest) bid for the project. Of particular interest is whether the number of bidders increases or decreases the amount of the winning bid. d. Determine the regression equation. e. Do more bidders tend to decrease the amount of the winning bid? Use the 0.05 significance level. f. Estimate the amount of the winning bid if there were eight bidders. Note: 1. please clear answer no Whois one d,e,&f 2. No need excel formula
Question 1 The National Highway Association is studying the relationship between the number of bidders on a highway project and the winning (lowest) bid for the project. Of particular interest is whether the number of bidders increases or decreases the amount of the winning bid. d. Determine the regression equation. e. Do more bidders tend to decrease the amount of the winning bid? Use the 0.05 significance level. f. Estimate the amount of the winning bid if there were eight bidders. Note: 1. please clear answer no Whois one d,e,&f 2. No need excel formula
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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Question 1
The National Highway Association is studying the relationship between the number of bidders on a
highway project and the winning (lowest) bid for the project. Of particular interest is whether the
number of bidders increases or decreases the amount of the winning bid.
d. Determine the regression equation.
e. Do more bidders tend to decrease the amount of the winning bid? Use the 0.05 significance
level.
f. Estimate the amount of the winning bid if there were eight bidders.
Note: 1. please clear answer no Whois one d,e,&f
2. No need excel formula
Transcribed Image Text:Winning Bid
($ millions)
Winning Bid
($ millions)
Project
Number of
Project
Number of
Bidders
Bidders
1
9.
5.1
9
6.
10.3
2
8.0
10
6.
8.0
3.
3
9.7
11
4
8.8
4
10
7.8
12
7
9.4
7.7
13
7
8.6
6.
10
5.5
14
7
8.1
7
7
8.3
15
6.
7.8
8.
11
5.5
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