We have obtained the ages and amounts for treats at the movies. We let the x variable be age and the y variable be the amount data. Here are the summary data:
> #Problems 13 - 15
> summary(xm.lm)
Call:
lm(formula = ym ~ xm)
Residuals:
Min 1Q Median 3Q Max
-3.6596 -1.1337 0.2707 1.4529 2.3427
Coefficients:
Estimate Std. Error t value Pr(>|t|)
(Intercept) 6.96094 2.08849 3.333 0.0103 *
xm -0.05298 0.06140 -0.863 0.4133
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Signif. codes: 0 *** 0.001 ** 0.01 * 0.05 . 0.1 1
Residual standard error: 2.128 on 8 degrees of freedom
Multiple R-squared: 0.08514, Adjusted R-squared: -0.02922
F-statistic: 0.7445 on 1 and 8 DF, p-value: 0.4133
Find the slope term, ^ 1:^
Find the y intercept component, ^ 0:
If x is 10, what do we expect ^y to be?