Question

In: Economics

The following table gives the bushels of corn per acre, y resulting from the use of...

  1. The following table gives the bushels of corn per acre, y resulting from the use of the various amounts of fertilizer in pounds per acre, x, produced on a farm in each of 10 years from 1971 to 1980.  

Year

n

y

x

1971

1

40

6

1972

2

44

10

1973

3

46

12

1974

4

48

14

1975

5

52

16

1976

6

58

18

1977

7

60

22

1978

8

68

24

1979

9

74

26

1980

10

80

32

  1. What is the simple linear regression population model?

  1. What is the estimated simple linear regression model in notation form?

  1. What are the estimated intercept and slope? Interpret the estimated intercept and slope.

                        

  1. Write the estimated simple linear regression model using the estimated intercept and slope?

  1. If  18 pounds of fertilizer is used, what are:

  1. the actual bushel of corn per acre yielded,

  1. the fitted value of the regression line, and

  1. the value of the residual.  Does the residual lie above or below the regression line?  Please explain.

  1. Calculate the SST, SSE, and SSR of the model.
  1. Calculate the estimated variances and the standard errors of and .

  1. Calculate the R2 term of the estimated model and interpret the R2 term.

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