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)
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