Access the data, labeled Urban_Rural, from the text website to estimate a regression model using consumption as

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Access the data, labeled Urban_Rural, from the text website to estimate a regression model using consumption as the response variable. The explanatory variables include income and a dummy variable that equals 1 for urban, 0 otherwise.

a. Construct and interpret the 99% confidence interval for the average consumption of an urban family with an income of $80,000.

b. Construct and interpret the 99% confidence interval for the average consumption of a rural family with an income of $80,000.

c. Comment on the width of the above confidence intervals.

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Essentials Of Business Statistics Communicating With Numbers

ISBN: 9780078020544

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Authors: Sanjiv Jaggia, Alison Kelly

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Question Posted: Jan 28, 2015 10:24 AM

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Access the data, labeled Urban_Rural, from the text website to estimate a regression model using consumption as

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a Using for consumption and for income and dummy variable Urban respectively the estimated model is ...View the full answer

Essentials Of Business Statistics Communicating With Numbers

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