Ronald Weasley is a student at Hogwarts School of Witchcraft and Wizardry. He likes Bertie Botts...

 

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Ronald Weasley is a student at Hogwarts School of Witchcraft and Wizardry. He likes Bertie Botts Every Flavor Beans a lot. He has data for the previous 28 weeks on his weekly income in galleons (X) (most valued coin of the wizarding currency) and number of pockets of Bertie Botts Every Flavor Beans that he consumes (Y): N = 28 EY; = 20835 EX; = 10462 EY? = 8500750 EX? = 5329789 EX;Y; = 9209990 E(X; - X;)((Y; – Ý;) = 377534 %3D E(Y; – Y;) = 917854 E (X; – X;) = 250144 Eû,? = 348053 %3D Use the above sample information to answer all the following questions. Show expilicitly all formulas and calculations. a) Use the above information to compute OLS estimates of the intercept coefficient Bo and the slope coefficient B1. b) Interpret the slope coefficient you calculated in part (a). c) Calculate an estimate of o?, the error variance. d) Compute the value of R2, the coefficient of determination for the estimated OLS sample regression equation. Briefly explain what the calculated value of R2 means. Ronald Weasley is a student at Hogwarts School of Witchcraft and Wizardry. He likes Bertie Botts Every Flavor Beans a lot. He has data for the previous 28 weeks on his weekly income in galleons (X) (most valued coin of the wizarding currency) and number of pockets of Bertie Botts Every Flavor Beans that he consumes (Y): N = 28 EY; = 20835 EX; = 10462 EY? = 8500750 EX? = 5329789 EX;Y; = 9209990 E(X; - X;)((Y; – Ý;) = 377534 %3D E(Y; – Y;) = 917854 E (X; – X;) = 250144 Eû,? = 348053 %3D Use the above sample information to answer all the following questions. Show expilicitly all formulas and calculations. a) Use the above information to compute OLS estimates of the intercept coefficient Bo and the slope coefficient B1. b) Interpret the slope coefficient you calculated in part (a). c) Calculate an estimate of o?, the error variance. d) Compute the value of R2, the coefficient of determination for the estimated OLS sample regression equation. Briefly explain what the calculated value of R2 means.

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Answer a nExy ExEy B1 28 3209990 10462 20835 28 5329789 104622 3D ... View the full answer