Page 1 of 1

A consumer's spending is widely believed to be a function of their income. To estimate this relationship, a university p

Posted: Sun Oct 03, 2021 11:28 am
by answerhappygod
A consumer's spending is widely believed to be a function of
their income. To estimate this relationship, a university professor
randomly selected 19 of his students and collected information on
their spending (Y, in dollars) and income (X, in dollars) patterns
in week 6 of the semester. Assuming a linear relationship between Y
and X, the professor used the least-squares method and found that
the Y intercept = 20.90 and the slope = 0.66. Also, the sum of
squares total (SST) and the regression sum of squares (SSR) were
equal to 65600.74 and 52831.23, respectively.
Based on this information, the standard error of the estimate is
equal to __________. Round your final answer to
two decimal places.
Based on this information, the predicted mean weekly spending
for a student with a weekly income of $225 would be ____________
dollars.
The professor also found that the standard error of the slope
was 0.08. Based on this information, what is the value of the t
test statistic if you are testing the null hypothesis that there is
no linear relationship between the two variables, X and Y? Round
your final answer to two decimal places.