Here, Y^i is the predicted value of dependent variable Y for the number of observations i , Xi is the value of independent variable X for observations i , bo is the sample Y intercept and b1 is the sample slope.
Comparing the given equation with general equation, the intercept is, b0=2 . It can be interpreted as the predicted value of Y is 2, when X=0 .
b.
To determine
Interpret the slope coefficient.
b.
Expert Solution
Explanation of Solution
In the given prediction line, the slope is b1=5 .
Slope coefficient gives the change in Y for a unit change in X . Here, slope b1=5 means that for an unit increase in X , the predicted value of Y increases by a mean of 5 units.
c.
To determine
Find the predicted value of Y , when X=3
c.
Expert Solution
Answer to Problem 1PS
The predicted value is 17.
Explanation of Solution
The prediction line is given by Y^i=2+5Xi .
Now, substitute Xi=3 in the above prediction line.
Y^i=2+5×3=17
Thus, the required value is Y^i=17 .
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Part (b)
Draw a scatter plot of the ordered pairs.
N
Life
Expectancy
Life
Expectancy
80
70
600
50
40
30
20
10
Year of
1950
1970 1990
2010 Birth
O
Life
Expectancy
Part (c)
800
70
60
50
40
30
20
10
1950
1970 1990
W
ALT
林
$
#
4
R
J7
Year of
2010 Birth
F6
4+
80
70
60
50
40
30
20
10
Year of
1950 1970 1990
2010 Birth
Life
Expectancy
Ox
800
70
60
50
40
30
20
10
Year of
1950 1970 1990 2010 Birth
hp
P.B.
KA
&
7
80
% 5
H
A
B
F10
711
N
M
K
744
PRT SC
ALT
CTRL
Harvard University
California Institute of Technology
Massachusetts Institute of Technology
Stanford University
Princeton University
University of Cambridge
University of Oxford
University of California, Berkeley
Imperial College London
Yale University
University of California, Los Angeles
University of Chicago
Johns Hopkins University
Cornell University
ETH Zurich
University of Michigan
University of Toronto
Columbia University
University of Pennsylvania
Carnegie Mellon University
University of Hong Kong
University College London
University of Washington
Duke University
Northwestern University
University of Tokyo
Georgia Institute of Technology
Pohang University of Science and Technology
University of California, Santa Barbara
University of British Columbia
University of North Carolina at Chapel Hill
University of California, San Diego
University of Illinois at Urbana-Champaign
National University of Singapore
McGill…
Name
Harvard University
California Institute of Technology
Massachusetts Institute of Technology
Stanford University
Princeton University
University of Cambridge
University of Oxford
University of California, Berkeley
Imperial College London
Yale University
University of California, Los Angeles
University of Chicago
Johns Hopkins University
Cornell University
ETH Zurich
University of Michigan
University of Toronto
Columbia University
University of Pennsylvania
Carnegie Mellon University
University of Hong Kong
University College London
University of Washington
Duke University
Northwestern University
University of Tokyo
Georgia Institute of Technology
Pohang University of Science and Technology
University of California, Santa Barbara
University of British Columbia
University of North Carolina at Chapel Hill
University of California, San Diego
University of Illinois at Urbana-Champaign
National University of Singapore…
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