Question

In: Statistics and Probability

The accompanying data are x = advertising share and y = market share for a particular...

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.)

_________

Solutions

Expert Solution

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


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