Question

In: Economics

(a) Make an Excel worksheet to calculate SSxx, SSyy, and SSxy. (Leave no cells blank -...

(a)

Make an Excel worksheet to calculate SSxx, SSyy, and SSxy. (Leave no cells blank - be certain to enter "0" wherever required. Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.)

       
Part-Time Weekly Earnings ($) by College Students
Hours Worked (X) Weekly Pay (Y) (xi−x⎯⎯)2(xi−x¯)2 (yi−y⎯⎯)2(yi−y¯)2 (xi−x⎯⎯)(yi−y⎯⎯)(xi−x¯) (yi−y¯)
10 93 ?        ?        ?
15 171           ?        ?           ?
20 204        ?        ?           ?
20 156        ?        ?        ?
35 261        ?        ?        ?
                    
             x⎯⎯x¯              y⎯⎯y¯            ssxxssxx          ssyyssyy               ssxyssxy
? ? ? ? ?

    

(b)

Use the formulas to calculate the slope and intercept. (Round your answers to 3 decimal places.)

  b1    ?
  b0    ?

  

(c)

Use your estimated slope and intercept to make a worksheet to calculate SSE, SSR, and SST. (Leave no cells blank - be certain to enter "0" wherever required. Negative values should be indicated by a minus sign. Do not round intermediate calculations, but final answers should be rounded to 3 decimal places.)

  

Hours Worked
(xi)
Weekly Pay
(yi)
Estimated Pay
   (yˆi)(y^i)  
yi−yiˆyi−yi^ (yi−yˆi)2(yi−y^i)2 (yˆi−y⎯⎯)2(y^i−y¯)2 (yi−y⎯⎯)2(yi−y¯)2
10 93    ?    ?    ?    ?    ?
15 171    ?    ?    ?       ?    ?
20 204    ?    ? ?      ?    ?
20 156    ?    ? ?      ? ?  
35 261    ?    ?    ?    ?    ?

   

   
    x⎯⎯x¯    ?
    y⎯⎯y¯    ?
  SSE    ?
  SSR    ?
  SST    ?

  

(d) Calculate the R2. (Round your answer to 4 decimal places.)

  

  R2      ?

Solutions

Expert Solution

The formula view of the spreadsheet is as follows:


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