Suppose that a researcher, using data on 150 randomly selected bicycles, estimates the OLS regression Price = 672 65 -2.12x Weight (176 4) (0 28) where Price measures the price of the " bike in dollars and Weight measures the weight of the bike in kilograms The 99% confidence interval for the intercept, Bo, will be ( ) (Round your answers to two decimal places.) The 99% confidence interval for the slope, , will be ( (Round your answers to two decimal places. Enter a minus sign if your answer is negative.) Based on the calculated confidence intervals, and a two-tailed hypothesis test, we can say that at the 1% significance level, we wil the hypothesis A, 170, and we will v the hypotheso -00 reject fail to reject
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
 alt="Suppose that a researcher, using data on 150 randomly selected bicycles, estimates the OLS regression:
Price= 672.65-2.12 x Weight,
(176.4) (0 28)
%3D
where Price measures the price of the i" bike in .
dollars and Weight measures the weight of the bike in kilograms.
The 99% confidence interval for the intercept, Po. will be ( D
(Round your answers to two decimal places.)
The 99% confidence interval for the slope, B1, will be ( ).
(Round your answers to two decimal places. Enter a minus sign if your answer is negative.)
Based on the calculated confidence intervals, and a two-tailed hypothesis test, we can say that at the 1% significance level, we will
v the hypothesis 170, and we will
v the hypothesis ,-08
reject
fail to reject
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