Complete the following worksheet and then use it to calculate the coefficient of determination. xi yi ŷ (1-5)² (vi-5)² (x-5)² 1 12 265.2 253.2 2,277.2 144.0 1,275.9 23 2 20.2 279.6 286.2 216.7 43.6 454.5 27 311.2 313.5 158.3 5.3 105.7 4 30 328.0 325.6 609.1 5.8 733.3 5 30 355.0 325.6 609.1 864.4 2,924.6 6 21.4 281.2 291.0 98.4 96.0 388.9 7 21.6 288.4 291.8 83.2 11.6 156.8 8 25.2 292.8 306.3 28.9 182.3 65.9 9 15 37.2 358.0 354.5 10 14.4 263.2 262.9 11 15 272.4 265.3 12 22.4 291.2 295.0 13 23.9 299.6 301.0 14 26.6 307.6 311.9 15 30.7 320.4 328.4 Total 2,870.8 12.3 3,258.1 1,445.5 0.1 1,422.8 1,268.8 50.4 813.4 35.0 14.4 94.5 0.0 2.0 1.7 120.6 18.5 44.6 755.2 64.0 379.5 The coefficient of determination (r) is The F-ratio is , which means that the assessor reject, at the 5% level of significance, the null hypothesis that there is no relationship between the selling price and the area of the house. (Hint: The critical value of Fo.05,1,1is 4.67.) Which of the following is an approximate 95% prediction interval for the selling price of a house having an area (size) of 15 (hundred) square feet? 171.8 to 218.4 173.5 to 216.7 243.7 to 286.9
Complete the following worksheet and then use it to calculate the coefficient of determination. xi yi ŷ (1-5)² (vi-5)² (x-5)² 1 12 265.2 253.2 2,277.2 144.0 1,275.9 23 2 20.2 279.6 286.2 216.7 43.6 454.5 27 311.2 313.5 158.3 5.3 105.7 4 30 328.0 325.6 609.1 5.8 733.3 5 30 355.0 325.6 609.1 864.4 2,924.6 6 21.4 281.2 291.0 98.4 96.0 388.9 7 21.6 288.4 291.8 83.2 11.6 156.8 8 25.2 292.8 306.3 28.9 182.3 65.9 9 15 37.2 358.0 354.5 10 14.4 263.2 262.9 11 15 272.4 265.3 12 22.4 291.2 295.0 13 23.9 299.6 301.0 14 26.6 307.6 311.9 15 30.7 320.4 328.4 Total 2,870.8 12.3 3,258.1 1,445.5 0.1 1,422.8 1,268.8 50.4 813.4 35.0 14.4 94.5 0.0 2.0 1.7 120.6 18.5 44.6 755.2 64.0 379.5 The coefficient of determination (r) is The F-ratio is , which means that the assessor reject, at the 5% level of significance, the null hypothesis that there is no relationship between the selling price and the area of the house. (Hint: The critical value of Fo.05,1,1is 4.67.) Which of the following is an approximate 95% prediction interval for the selling price of a house having an area (size) of 15 (hundred) square feet? 171.8 to 218.4 173.5 to 216.7 243.7 to 286.9
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Transcribed Image Text:Complete the following worksheet and then use it to calculate the coefficient of determination.
xi
yi
ŷ
(1-5)²
(vi-5)²
(x-5)²
1
12
265.2 253.2
2,277.2
144.0
1,275.9
23
2
20.2 279.6 286.2
216.7
43.6
454.5
27 311.2 313.5
158.3
5.3
105.7
4
30 328.0 325.6
609.1
5.8
733.3
5
30 355.0 325.6
609.1
864.4
2,924.6
6
21.4 281.2 291.0
98.4
96.0
388.9
7 21.6 288.4 291.8
83.2
11.6
156.8
8 25.2 292.8 306.3
28.9
182.3
65.9
9
15
37.2 358.0 354.5
10 14.4 263.2 262.9
11 15 272.4 265.3
12 22.4 291.2 295.0
13 23.9 299.6 301.0
14 26.6 307.6 311.9
15 30.7 320.4 328.4
Total
2,870.8
12.3
3,258.1
1,445.5
0.1
1,422.8
1,268.8
50.4
813.4
35.0
14.4
94.5
0.0
2.0
1.7
120.6
18.5
44.6
755.2
64.0
379.5
The coefficient of determination (r) is
The F-ratio is
, which means that the assessor
reject, at the 5% level of
significance, the null hypothesis that there is no relationship between the selling price and the area
of the house. (Hint: The critical value of Fo.05,1,1is 4.67.)
Which of the following is an approximate 95% prediction interval for the selling price of a house
having an area (size) of 15 (hundred) square feet?
171.8 to 218.4
173.5 to 216.7
243.7 to 286.9
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