Question

In: Statistics and Probability

hypothetically data on weekly family consumption expenditure Y and weekly family income X. Y = 70...

hypothetically data on weekly family consumption expenditure Y and weekly family income X. Y = 70 ,65, 90, 95, 110, 115, 120, 140, 155, 150. AND X = 80, 100, 120, 140, 160, 180, 200, 220, 240, 260. from the data given above ,you are required to obtain the estimates of the regression coefficients,their variances and standard errors, the correlation and coefficient of determination

Solutions

Expert Solution

Please don't hesitate to give a "thumbs up" in case you're satisfied with the answer

All of the metrics asked in the question are highlighted in red, their definitions marked underneath.

I have performed a linear regression on Excel as below:

orchestra answered 1 year ago
Next > < Previous

Related Solutions

The following data represent Aggregate Consumption (Y) and Disposable Income (X) for one country. Year Y...
The following data represent Aggregate Consumption (Y) and Disposable Income (X) for one country. Year Y X 1993 102 114 1994 105 118 1995 109 126 1996 110 130 1997 121 134 1998 125 140 a. Develop the least squares estimated regression equation. b. Find coefficient of correlation and coefficient of covariance
How much does household weekly income affect the household weekly expenditure on food? The following data...
How much does household weekly income affect the household weekly expenditure on food? The following data shows household weekly expenditure on food and the household weekly income (all in dollars). Use the data below to develop an estimated regression equation that could be used to predict food expenditure for a weekly income. Use Excel commands for your calculations. FOOD INCOME y x 91 292 148 479 107 428 146 766 243 1621 312 1661 243 1292 272 1683 349 1808...
Question 2: Consider the following data on 10 students: Observation Weekly Food Expenditure Weekly Income 1...
Question 2: Consider the following data on 10 students: Observation Weekly Food Expenditure Weekly Income 1 80 200 2 70 100 3 60 80 4 80 220 5 100 230 6 70 160 7 50 60 8 70 80 9 70 130 10 80 140 (a) Calculate the values of β0 ̂ and β1 ̂ for the simple linear regression model given by: food =β̂0 +β̂1 incomei + ei (b) Interpret those values in the context of the variable definitions...
In a study relating consumption expenditure (Y) on income (X2) and wealth (X3) based on 10...
In a study relating consumption expenditure (Y) on income (X2) and wealth (X3) based on 10 observations , the following equation was obtained Yhat = 24.337 + 0.08764X2 - 0.0349X3      SE   (6.2801)    (0.31438)   (0.0301)        t    (3.875)      (2.7726)     (-1.1595)                i) In your opinion, what type of problem takes in this result? Explain it ii)   What are the practical consequences of this problem? iii) What are the theoretical of this problem iv) How to detect this problem? v)In your judgement,...
Income    (Yd) Consumption Expenditure Saving Investment Expenditure Government Expenditure Net Export Expenditure Aggregate Expenditure $8000...
Income    (Yd) Consumption Expenditure Saving Investment Expenditure Government Expenditure Net Export Expenditure Aggregate Expenditure $8000 $11,000 $2,500 $5,000 $12,500   12,000 14,000 2,500 5,000 12,500 20,000 20,000 2,500 5,000 12,500 30,000 27,500 2,500 5,000 12,500 50,000 42,500 2,500 5,000 12,500 100,000 80,000 2,500 5,000 12,500 1. Calculate savings, autonomous consumption, MPC, MPS, break even income, and the equilibrium level of income (Y = AE = C + I + G + NX) in the above given information. 2. Draw a...
Income    (Yd) Consumption Expenditure Saving Investment Expenditure Government Expenditure Net Export Expenditure Aggregate Expenditure $8000...
Income    (Yd) Consumption Expenditure Saving Investment Expenditure Government Expenditure Net Export Expenditure Aggregate Expenditure $8000 $11,000 $2,500 $5,000 $12,500   12,000 14,000 2,500 5,000 12,500 20,000 20,000 2,500 5,000 12,500 30,000 27,500 2,500 5,000 12,500 50,000 42,500 2,500 5,000 12,500 100,000 80,000 2,500 5,000 12,500 Calculate savings, autonomous consumption, MPC, MPS, break even income, and the equilibrium level of income (Y = AE = C + I + G + NX) in the above given information. Draw a graph showing...
Explain the ‘permanent income’ theory of household consumption expenditure.
Explain the ‘permanent income’ theory of household consumption expenditure.
Determine the slopes of the Engel curves for goods x and y when the income consumption...
Determine the slopes of the Engel curves for goods x and y when the income consumption curve slopes upward, downward, is vertical, and is horizontal.
State the general relationship between consumption Y and disposable income X in ( a ) exact...
State the general relationship between consumption Y and disposable income X in ( a ) exact linear form and ( b ) stochastic form. ( c ) Why would you expect most observed values of Y not to fall exactly on a straight line?
A Regression analysis was applied between sales data (y in $1000s) and advertising expenditure (x in...
A Regression analysis was applied between sales data (y in $1000s) and advertising expenditure (x in $100s) and the estimated regression equation is obtained as ŷ = 12 + 1.8 x. Suppose SST=300, SSE=75, sb1 =0.2683 and ?=17 a) Carry out a t-test to see whether the advertising expenditure is significant. Use α = 0.05 and critical value approach to draw your conclusion. Make sure to show all your steps. b) Carry out an F-test to see whether the advertising...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT