The relationship (assumed linear) between yield of bourbon Y and aging time X was studied by observing yields Yi from batches that have been allowed to age Xi=2i years, i= 1, 2,..., 6. The results are given below. Find, assuming n=E(Y l X) = B0 + B1X1 the least squares estimates of B0 and B1, and hence the least squares estimates of n. Construct 95% confidence intervals for B0 , B B1, and n0 = B0 + B1x0. Let X0 take the values 2, 4, 6, 8, 10 and 12 and draw the confidence band for the estimated regression equation.
| X |
2 |
4 |
6 |
8 |
10 |
12 |
| Y |
3 |
3.4 |
4 |
4.5 |
4.4 |
5 |