a) The table below shows the quantity supplied (Y) of a commodity at various prices (X),...

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a) The table below shows the quantity supplied (Y) of a commodity at various prices (X), holding all other factors constant. N 1 2 3 4 5 6 7 8 Y 12 14 10 13 17 12 11 15 X 5 11 7 8 11 7 6 9 i. ii. Estimate the regression equation of Y on X, interpret and predict Y when X=20. [6 Marks] Test for the statistical significance of the parameter estimates at the 5% level of significance. xy b) Prove that R = [5 Marks] [4 Marks] a) The table below shows the quantity supplied (Y) of a commodity at various prices (X), holding all other factors constant. N 1 2 3 4 5 6 7 8 Y 12 14 10 13 17 12 11 15 X 5 11 7 8 11 7 6 9 i. ii. Estimate the regression equation of Y on X, interpret and predict Y when X=20. [6 Marks] Test for the statistical significance of the parameter estimates at the 5% level of significance. xy b) Prove that R = [5 Marks] [4 Marks]

Answer rating: 100% (QA)

a To estimate the regression equation of Y on X and predict Y when X 20 we can use ordinary least squares OLS regression First lets calculate the necessary values for the regression analysis N 10 numb... View the full answer