In: Statistics and Probability
The accompanying data are x = advertising share and y = market share for a particular brand of cigarettes during 10 randomly selected years.
x | 0.101 | 0.072 | 0.071 | 0.077 | 0.086 | 0.047 | 0.060 | 0.050 | 0.070 | 0.052 |
y | 0.136 | 0.125 | 0.123 | 0.086 | 0.079 | 0.076 | 0.065 | 0.059 | 0.051 |
0.039 |
(a) Calculate the equation of the estimated regression line. (Round your answers to six decimal places.)
y=________
Obtain the predicted market share when the advertising share is 0.09. (Round your answer to five decimal places.)
__________
b)Calculate a point estimate of σ. (Round your answer to four decimal places.)
_________
The statistical software output for this problem is:
From above output:
a) y = -0.004329 + 1.286131 x
Predicted value = 0.11142
b) Point estimate = 0.0269