Statistics

2009-11-25 11:23 pm

An insurance company wishes to examine the relationship between income (in $,000) and the amount of life insurance (in $,000) held by families. The company drew a simple random sample of families and obtained the following results :

Family : Income : Amount of life insurance

A : 60 : 120
B : 80 : 200
C : 100 : 220
D : 80 : 160
E : 90 : 180
F : 120 : 270
G : 110 : 150
H : 100 : 240
I : 70 : 160
J : 100 : 210

Q1. What is the least squares estimate of the slope? (four decimal places)
Q2. What is the least squares estimate of the Y intercept? (four decimal places)
Q3. What is the prediction for the amount of life insurance for a family whose
income is $85,000? (four decimal places)
Q4. What would be the residual (error) term for a family income of $90,000?

回答 (1)

myisland8132

2009-12-03 4:18 am

✔ 最佳答案

圖片參考：http://www.shodor.org/tmp/lls11168.png

Q1 the least squares estimate of the slope is 1.7767

Q2 the least squares estimate of the Y intercept is 29.3204

Q3 the prediction for the amount of life insurance for a family whose
income is $85,000 is 180.3399 (in $,000)

Q4 the prediction for the amount of life insurance for a family whose
income is $90,000 is 189.2234 (in $,000). So the residual (error) term is 180-189.2234=-9.2234 (in $,000)

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