The table below shows the income (X) and expenditure (Y) data for 10 households. Please answer the following questions. Estimate the expenditure function manually: Yi=b0+b1Xi Interpret b0 and b1 Test the significance of parameters (alpha = 0.05). Write down the 95% confidence interval for Y when X=45 X 20 30 33 40 15 13 26 38 35 43 Y 7 9 8 11 5 4 8 10 9 10

The table below shows the income (X) and expenditure (Y) data for 10 households. Please answer the following questions. Estimate the expenditure function manually: Yi=b0+b1Xi Interpret b0 and b1 Test the significance of parameters (alpha = 0.05). Write down the 95% confidence interval for Y when X=45 X 20 30 33 40 15 13 26 38 35 43 Y 7 9 8 11 5 4 8 10 9 10

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.5: Comparing Sets Of Data

Problem 4CYU

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Question

The table below shows the income (X) and expenditure (Y) data for 10 households. Please answer the following questions.

Estimate the expenditure function manually: Y_i=b₀+b₁X_i
Interpret b₀ and b₁
Test the significance of parameters (alpha = 0.05).
Write down the 95% confidence interval for Y when X=45

X	20	30	33	40	15	13	26	38	35	43
Y	7	9	8	11	5	4	8	10	9	10

Expression, rule, or law that gives the relationship between an independent variable and dependent variable. Some important types of functions are injective function, surjective function, polynomial function, and inverse function.

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