Question: Use the least squares method to fit a simple linear model that relates the annual passenger ridership (in '00,000) to the distance covered by the

 Use the least squares method to fit a simple linear model

Use the least squares method to fit a simple linear model that relates the annual passenger ridership (in '00,000) to the distance covered by the public transit system network. In your analysis, state what your model is, and determine whether the independent variable is signicant or not at an alevel of signicance = 5%. a. How effective is the independent variable in predicting the movement of the dependent variable? b. Calculate a 90% condence interval estimate for the true regression slope. c. Based on your model, what is the estimated number of public transit users if the transit system network cove rs a distance of 100km? d. Calculate a 95% prediction interval for your estimate in part (c)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!