Question
In: Statistics and Probability
We are interested in studying the linear relationship between someone's age and how much they spend...
We are interested in studying the linear relationship between someone's age and how much they spend on travel. The following data is provided: Amount Spent on Travel Age 850 39 997 43 993 50 649 59 1265 25 680 38 Find the standard error of b1, s-b1 (s sub b1). a. 2.88 b. 5.67 c. 8.29 d. 7.59
Solutions
Expert Solution
We use minitab to solve the problem using the following steps :
Stat, regression, regression, fit regression model.
X : independent variable = age.
Y : dependent variable = amount spent on travel.
Minitab output :
So the standard error of b1 is d. 7.59 as shown in the image above. (S.E coef of age)
orchestra answered 2 years agoRelated Solutions
We are interested in studying the linear relationship between someone's age and how much they spend...
We are interested in studying the linear relationship between
someone's age and how much they spend on travel. The following data
is provided:
Amount Spent on Travel
Age
850
39
997
43
993
50
649
59
1265
25
680
38
Find the correlation coefficient.
a.
0.6476
b.
0.4194
c.
-0.6476
d.
0.5806
We are interested in studying the linear relationship between
someone's age and how much they spend on travel. The following data
is provided:
Amount Spent on Travel
Age...
We are interested in studying the linear relationship between someone's age and how much they spend...
We are interested in studying the linear relationship between
someone's age and how much they spend on travel. The following data
is provided:
Amount Spent on Travel
Age
850
39
997
43
993
50
649
59
1265
25
680
38
Find beta1 (b1).
a.
-12.9056
b.
-0.0325
c.
12.9056
d.
3.5933
We are interested in studying the linear relationship between
someone's age and how much they spend on travel. The following data
is provided:
Amount Spent on Travel
Age
850...
We are interested in studying the linear relationship between someone's age and how much they spend...
We are interested in studying the linear relationship between
someone's age and how much they spend on travel. The following data
is provided:
Amount Spent on Travel
Age
850
39
997
43
993
50
649
59
1265
25
680
38
Find SST.
a.
667.33
b.
153,844.05
c.
264,991.33
d.
196.11
We are interested in studying the linear relationship between
someone's age and how much they spend on travel. The following data
is provided:
Amount Spent on Travel
Age
850
39...
We are interested in studying the linear relationship between someone's age and how much they spend...
We are interested in studying the linear relationship between
someone's age and how much they spend on travel. The following data
is provided:
Amount Spent on Travel
Age
850
39
997
43
993
50
649
59
1265
25
680
38
Find the 99% confidence interval for b1.
a.
(-33.98, 8.17)
b.
(-47.86, 22.05)
c.
(-20.65, 2.58)
d.
(-22.05, 47.86)
We are interested in studying the linear relationship between
someone's age and how much they spend on travel. The following data...
An economist was interested in studying the relationship between the way families spend tax refunds and...
An economist was interested in studying the relationship between
the way families
spend tax
refunds and the size of their incomes. He took a sample of 6
families
and looked
at their annual family income and the percentage of the tax
refund
spent
within three months of receipt. The results are below.
Family Income ($1000s)
Percentage of Refund Spent (%)
23
45
52
55
16
100
45
50
64
15
34
20
The sample
covariance between the annual family income...
1) A personal director is interested in studying the relationship (if any) between age and salary....
1) A personal director is
interested in studying the relationship (if any) between age and
salary. Sixteen employees are randomly selected and their age and
salary are recorded.
AGE AND SALARY
AGE
SALARY (in Thousands of $)
25
$22
55
$45
27
$43
30
$30
22
$24
33
$53
19
$18
45
$38
49
$39
37
$45
62
$60
40
$35
35
$34
29
$30
58
$73
52
$42
a) Plot the data points on a
scatterplot.
b) Determine the...
We are studying the relationship of age in years and height in inches for children of...
We are studying the relationship of age in years and height in
inches for children of ages from 2 - 10. We have a sample of five
children. It is a linear relationship, so please find:
(a) r
(b) r(sq);
(c) the equation of the regression line
(d) the expected height in inches for a 7 year-old child.
Age(X)
Height(Y)
2
37
3
40
3
42
6
47
9
54
A researcher is interested to learn if there is a linear relationship between the hours in...
A researcher is interested to learn if there is a linear
relationship between the hours in a week spent exercising and a
persons life satisfaction. The researchers collected the following
data from a random sample, which included the number of hours spent
exercising in a week and a ranking of life satisfaction from 1 to
10 ( 1 being the lowest and 10 the highest).
Participant Hours of Exercise Life Satisfaction
1 3 1
2 14 2
3 14 4...
A researcher is interested to learn if there is a linear relationship between the hours in...
A researcher is interested to learn if there is a linear
relationship between the hours in a week spent exercising and a
person’s life satisfaction. The researchers collected the following
data from a random sample, which included the number of hours spent
exercising in a week and a ranking of life satisfaction from 1 to
10 ( 1 being the lowest and 10 the highest). PLEASE help in
SPSS.
Participant
Hours of Exercise
Life Satisfaction
1
3
1
2
14...
1. Suppose we are interested in analyzing how much people spend on travel during the summer....
1. Suppose we are interested in analyzing how much people spend
on travel during the summer. We know that on average, people spend
$1005 on travel with a population standard deviation of $1740.
Suppose we take a sample of 30 people and we find that the average
spent from that sample is $1850. We are interested in seeing if the
amount spent on travel is increasing. a. What is the standard
error? b. What is the margin of error at...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- 4. Why did the United States and the Soviet Union find themselves in a “Cold War”...
- The Facts: Ann and Bill decided to start a coffee shop. They agreed Bill would provide...
- MARGI sells different types of wine. Customers place orders to the most popular “Summer Wine” at...
- A firm's bonds have a maturity of 8 years with a $1,000 face value, have an...
- Naive reasoning suggests that a string theory vacuum with cosmological constant Lambda1 is always unstable as...
- I. Design and code a class Rectangle that has the following properties: Two private members double...
- A bond has a $1,000 par value, 10 years to maturity, and an 8% annual coupon...
ADVERTISEMENT