Question: Answers for a, b. c, d An article in Technometrics by S. C. Narula and J. F. Wellington (Prediction, Linear Regression, and a Minimum Sum

Answers for a, b. c, d

An article in Technometrics by S. C. Narula and J. F. Wellington ("Prediction, Linear Regression, and a Minimum Sum of Relative Errors," Vol. 19, 1977) presents data on the selling price (y) and annual taxes (x) for 24 houses. The taxes include local, school and county taxes. The data are shown in the following table. Sale Price/1000 Taxes/1000 26.4 5.0752 |29.5 5.0208 27.9 4.5429 25.9 4.5573 29.9 5.0597 29.9 3.891 30.9 5.898 28.9 5.6039 35 .9 5.8282 31.5 5.3003 31 6.2712 30.9 5.9592 30.0 4.8291 36.9 8.2464 41.9 6.6969 40.5 7.7841 43.9 9.0384 37.5 5.9894 37.9 7.5422 44.5 8.7951 37.9 6.0831 38.9 8.3607 36.9 8.14 45.8 9.1416 Round your answers to 3 decimal places. Find a 98.00% confidence interval on each of the following: (a) Intercept. ! S BOS (b) Slope. SBIS ! (c) Mean selling price when the taxes paid are xo =6.9. ! d) Compute the 98.00% prediction interval for selling price when the taxes paid are xo = 6.9. ! SyOS Statistical Tables and Charts

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