4. A regression equation for sales was estimated as: Sales (in millions of dollars) = 300 + .05Per Capita Income (in dollars). There were 25 observations, the standard error of the regression was 100, and the standard error beta = 0.0125. a) Test at the 5% level if there is a statistically significant relationship between income and sales. (Assume a one-tail test.) b) Estimate the level of sales for a per capita income level of $30,000. c) Construct a 95% confidence interval for a per capita income level of $30,000
4. A regression equation for sales was estimated as: Sales (in millions of dollars) = 300 + .05Per Capita Income (in dollars). There were 25 observations, the standard error of the regression was 100, and the standard error beta = 0.0125. a) Test at the 5% level if there is a statistically significant relationship between income and sales. (Assume a one-tail test.) b) Estimate the level of sales for a per capita income level of $30,000. c) Construct a 95% confidence interval for a per capita income level of $30,000
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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4. A regression equation for sales was estimated as:
Sales (in millions of dollars) = 300 + .05Per Capita Income (in dollars).
There were 25 observations, the standard error of the regression was 100, and the standard error beta = 0.0125.
a) Test at the 5% level if there is a statistically significant relationship between income and sales. (Assume a one-tail test.)
b) Estimate the level of sales for a per capita income level of $30,000.
c) Construct a 95% confidence interval for a per capita income level of $30,000.
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