Consider the following data table: x 8 5 4 6 2 5 3 y 1 3...

Consider the following data table:

x	8	5	4	6	2	5	3
y	1	3	6	3	7	2	5

(15 points) Create a scatterplot of the data either by hand or with a computer. Does there appear to be a linear relationship between x and y? If so, what is the strength and direction of the relationship?

(20 points) Give the Simple Linear Regression Model, using x as the predictor variable and y as the response variable. What is the meaning of β₁ in this model?

(25 points) Give the least squares line and correlation coefficient. Round everything to three decimal places. What is the meaning of the slope estimate?

(25 points) Obtain the predicted values and residuals. Round all values to three decimal places.

Expert Solution

orchestra answered 1 year ago

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