Question 1
Consider the data set shown below. Find the standard deviation of the least squares regression line.
◦ 0.94643
◦ 1.49045
◦ 1.5
◦ 0.9003
Question 2
What is the relationship between diamond price and carat size? 307 diamonds were sampled and a straight-line relationship was hypothesized between y = diamond price (in dollars) and x = size of the diamond (in carats). The simple linear regression for the analysis is shown below:
Least Squares Linear Regression of PRICE
Predictor
Variables Coefficient Std Error T P
Constant
-2298.36
158.531
-14.50
0.0000
Size
11598.9
230.111
50.41
0.0000
R-Squared
0.8925
Resid. Mean Square (MSE)
1248950
Adjusted R-Squared
0.8922
Standard Deviation
1117.56
Interpret the standard deviation of the regression model.
◦ We can explain 89.25% of the variation in the sampled diamond prices around their mean using the size of the diamond in a linear model.
◦ We expect most of the sampled diamond prices to fall within $2235.12 of their least squares predicted values.
◦ We expect most of the sampled diamond prices to fall within $1117.56 of their least squares predicted values.
◦ For every 1-carat increase in the size of a diamond, we estimate that the price of the diamond will increase by $1117.56.
Relationship of the 12 cranial nerves to specific regions of the brain.
Dose–response relationship
The relationship between the crankshaft position (CKP) sensor and the camshaft position (CMP) sensor ...
Relationship between Latitude and Income per Capita
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.