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Author Question: The owner of a bakery wants to analyze the relationship between the expenditure of a customer and ... (Read 27 times)

Maddie9229

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on: Mar 25, 2023

The owner of a bakery wants to analyze the relationship between the expenditure of a customer and the customer's income. A sample of 5 customers is taken and the following information was obtained.

Y

X

Expenditure

Income (In Thousands)

    .45

20

10.75

19

  5.40

22

  7.80

25

  5.60

14


The least squares estimated line is = 4.348 + 0.0826 X.

a.Obtain a measure of how well the estimated regression line fits the data.
b.You want to test to see if there is a significant relationship between expenditure and income at the 5% level of significance. Be sure to state the null and alternative hypotheses.
c.Construct a 95% confidence interval estimate for the average expenditure for all customers with an income of $20,000.
d.Construct a 95% confidence interval estimate for the expenditure of one customer whose income is $20,000.

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
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Marked as best answer by Maddie9229 on Mar 25, 2023

KeriJennin

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Reply #1 on: Mar 25, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Maddie9229

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Reply 2 on: Mar 25, 2023
Great answer, keep it coming :)

cici

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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