Solve the below:
Question 1: Suppose we have the following information from a simple regression:
-What is the coefficient of determination?
-What is the correlation coefficient?
-What is the sample mean of Y?
Question 2: survey 35 students and find that the mean daily spending is $63.57 with a sample standard deviation of $17.32.
-Develop a 95% confidence interval for the population mean daily spending.
-What level of confidence is associated with an interval of $58.62 to $68.52 for the population mean daily spending?
Question 3: wholesaler finds that 229 of the previous 500 calls to hardware store owners resulted in new product placements. Assume these 500 calls represent a random sample.
-Find a 95% confidence interval for the long-run proportion of new product placements.
-What level of confidence is associated with an interval of .400513 to .515487 for the long-run proportion of new
Question 4: The following results were obtained for a sample of n =20 restaurants of approximately equal size:
Where:
y = Number of bottles of imported premium beer sold, and
x = Average cost, in dollars, of a meal.
-Determine the sample regression line.
-Interpret the slope of the sample regression line.
-Is it possible to provide a meaningful interpretation of the intercept of the sample regression line? Explain.