Given n=10, x=20,∝=0.01: Based on the data the regression equation is given by y=70+1.03x, y ̅=74...

Given n=10, x=20,∝=0.01: Based on the data the regression equation is given by y=70+1.03x, y ̅=74 and r=.25. What is the best predicted value for x?

Expert Solution

Ho:   ρ = 0
Ha:   ρ ╪ 0

n=   10
alpha,α =    0.01
correlation , r =   0.2500

Df =    n-2 =   8
t-test statistic = r*√(n-2)/√(1-r²) =        0.2500   * √    8   / √ ( 1 -    0.2500   ² ) =   0.730

p-value =    0.4860   [excel function: =t.dist.2t(t-stat,df) ]
decision:   p value > α , so, do not reject the null hypothesis

sO, regression model is not useful

hence, best predicted value for x = y ̅ = 74

please revert for doubts and

please UPVOTE the solution

orchestra answered 1 year ago

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