In: Statistics and Probability
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?
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
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