[Regression Analysis] How do you solve this question WITHOUT USING ANY CODE? The answer is provided in the picture, but I need help on how to solve the problem by hand. Please include any formulas used and show all calculations. Thank you!
[Regression Analysis] How do you solve this question WITHOUT USING ANY CODE? The answer is provided in the picture, but I need help on how to solve the problem by hand. Please include any formulas used and show all calculations. Thank you!
[Regression Analysis] How do you solve this question WITHOUT USING ANY CODE? The answer is provided in the picture, but I need help on how to solve the problem by hand. Please include any formulas used and show all calculations. Thank you!
[Regression Analysis] How do you solve this question WITHOUT USING ANY CODE? The answer is provided in the picture, but I need help on how to solve the problem by hand. Please include any formulas used and show all calculations. Thank you!
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Correct Answers
The marketing manager of a large supermarket chain would like to use shelf space to predict the sales of pet food. A random sample of 12
equal-sized stores is selected, with the following results:
Store
1
2
3
4
5
6
17
8
19
10
11
12
3.8555
Shelf Space (Feet) (X)
3.855 (with margin: 0.01)
15
5
5
10
10
10
15
15
15
20
20
20
Weekly Sales ($) (Y)
160
220
140
190
240
260
230
270
280
260
290
Consider the linear model
Y₁ =B₁ + B₁x₁ + €₁, €₁ ~ N(0,0²)
Ej,
and construct a 95% confidence interval for ₁. Provide the numerical value of the lower confidence limit.
Please round your final answer to four decimal places.
310
Definition Definition Statistical method that estimates the relationship between a dependent variable and one or more independent variables. In regression analysis, dependent variables are called outcome variables and independent variables are called predictors.
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