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(a) Calculate the least squares estimates of the slope and intercept. (Round your answer to 3 decimal places.) %3D i (Round your answer to 2 decimal places.) (b) Find the mean selling price given that the taxes paid are x = 8.4. (Round your answer to 2 decimal places.) (c) Calculate the fitted value of y corresponding to x = 5.0208 (observation #2). Find the corresponding residual. (Round your answer to 2 decimal places.) y - ŷ = (Round your answer to 2 decimal places.)

(a) Calculate the least squares estimates of the slope and intercept. (Round your answer to 3 decimal places.) %3D i (Round your answer to 2 decimal places.) (b) Find the mean selling price given that the taxes paid are x = 8.4. (Round your answer to 2 decimal places.) (c) Calculate the fitted value of y corresponding to x = 5.0208 (observation #2). Find the corresponding residual. (Round your answer to 2 decimal places.) y - ŷ = (Round your answer to 2 decimal places.)

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter3: Functions And Graphs
Section3.3: Lines
Problem 76E
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An article in Technometrics by S. C. Narula and J. F. Wellington (“Prediction, Linear Regression, and a Minimum Sum of Relative Errors,” Vol. 19, 1977) presents data on the selling price (y) and annual taxes (x) for 24 houses. The taxes include local, school and county taxes. The data are shown in the following table. Sale Price/1000 Taxes/1000 25.9 4.9176 29.5 5.0208 27.9 4.5429 25.9 4.5573 29.9 5.0597 29.9 3.8910 30.9 5.8980 28.9 5.6039 35.9 5.8282 31.5 5.3003 31.0 6.2712 30.9 5.9592 30.0 5.0500 36.9 8.2464 41.9 6.6969 40.5 7.7841 43.9 9.0384 37.5 5.9894 37.9 7.5422 44.5 8.7951 37.9 6.0831 38.9 8.3607 36.9 8.1400 45.8 9.1416
45.8 9.1416 (a) Calculate the least squares estimates of the slope and intercept. (Round your answer to 3 decimal places.) i (Round your answer to 2 decimal places.) (b) Find the mean selling price given that the taxes paid are x = 8.4. i (Round your answer to 2 decimal places.) (c) Calculate the fitted value of y corresponding to x = 5.0208 (observation #2). Find the corresponding residual. i (Round your answer to 2 decimal places.) y - ŷ = (Round your answer to 2 decimal places.) Şave for Later
Transcribed Image Text:45.8 9.1416 (a) Calculate the least squares estimates of the slope and intercept. (Round your answer to 3 decimal places.) i (Round your answer to 2 decimal places.) (b) Find the mean selling price given that the taxes paid are x = 8.4. i (Round your answer to 2 decimal places.) (c) Calculate the fitted value of y corresponding to x = 5.0208 (observation #2). Find the corresponding residual. i (Round your answer to 2 decimal places.) y - ŷ = (Round your answer to 2 decimal places.) Şave for Later
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