we repeat the data and provide the sample regression creations

a. Determine the standard error of the estimate

b. Construct of residual plot.

c. Construct a nommal probability plot of the residuals.

x243
y357

y^=2+x

Short Answer

Expert verified

The standard error of the estimate is given by 2.4494

Step by step solution

01

Part a Step 1: Given Information

x243
y357

y^=2+x

02

Part a Step 2: Explanation

MINITAB Output:

Analysis of variance

SourceDFSSMSFP

Regression1220.330.667

Residual error166



total 2 8

From the above Analysis of variance printout,

We have SSE=6,

df=n-1

=3-2

=1

The formula for the standard error of the estimate is given by.

se=SSEn-2

=61

=2.4494

Therefore, The standard error of the estimate is given by 2.4494

03

Part b Step 1: Given Information

04

Part b Step 2: Explanation

MINITAB procedure: Step 1: Choose Stat > Regression > Regression.

Step 2: In Response, enter the column Low.

Step 3: In Predictors, enter the columns High.

Step 4: In Graphs, enter the columns High under Residuals versus the variables

Step 5: Click OK.

MINITAB output:

Hence, a residual plot is drawn.

05

Part c Step 1: Given Information

06

Part c Step 2: Explanation

MINITAB procedure:

Step 1: Choose Stat > Regression > Regression.

Step 2: In Response, enter the column Low

Step 3: In Predictors, enter the columns High.

Step 4: In Graphs, select Normal probability plot of residuals.

Step 5: Click OK.

MINITAB output:

Hence, the normal probability plot of the residuals is drawn.

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Most popular questions from this chapter

In Exercises 14.48, we repeat the information from Exercises 14.12.

a. Decide, at the 10%significance level, whether the data provide sufficient evidence to conclude that xis useful for predicting y:

b. Find a 90%confidence interval for the slope of the population regression line.

x243y357 role="math" localid="1652276835214" y^=2+x


Find a95%prediction interval for the value of the response variable corresponding to the specified value of the predictor variable.

a. Obtain a point estimate for the mean tax efficiency of all mutual fund portfolios with6%of their investments in energy securities.

b. Determine a95%confidence interval for the mean tax efficiency of all mutual fund portfolios with6%of their investments in energy securities.

c. Find the predicted tax efficiency of a mutual fund portfolio with 6%of its investments in energy securities.

d. Determine a 95%prediction interval for the tax efficiency of a mutual fund portfolio with 6%of its investments in energy securities.

In Exexcises 14.98-14.108, use the technology of your choice to do the following tasks.
a. Decide whether your can reasonably apply the conditional mean and predicted value t-interval procedures to the data. If so, then also do parts (b) - (h).
b. Determine and interpret a point estimate for the conditional mean of the response variable corresponding to the specified value of the predictor variable.
c. Find and interpret a 95% confidence interval for the conditional mean of the response variable corresponding to the specified value of the predictor variable.
d. Determine and interpret the predicted value of the response variable corresponding to the specified value of the predictor variable.
e. Find and interpret a 95%prediction interval for the value of the response variable corresponding to the specified value of the predictor variable.
f. Compare and discuss the differences between the confidence interval that you obtained in part (c) and the prediction interval that you obfained in part (e).
14.102 Home Size and Value. The data from Exercise 14.38 for home size (in square feet) and assessed value (in thousands of dollars) for the same homes as in Exercise 14.101 are on the WeissStats site. Specified value of the predictor variable: 3000 sq. ft.

14.24 Custom Homes. Hanna Properties specializes in custom home resales in the Equestrian Estates, an exclusive subdivision in Phoenix, Arizona. A random sample of nine custom homes currently listed for sale provided the following information on size and price. Here, xdenotes the size, in hundreds of square feet, rounded to the nearest hundred, and ydenotes price, in thousands of dollars, rounded to the nearest thousand.

Which graph used in a residual analysis provides roughly the same information as a scatterplot? What advantages does it have over a scatterplot?

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