Given Below Are Seven Observations Collected in a Regression Study $\begin{array} { l l } x&y\\2&12\\3&9\\6&8\\7&7\\8&6\\9&5\\9&2\end{array}$

question 69

Essay

Given below are seven observations collected in a regression study on two variables, X independent variable) and Y dependent variable).
$\begin{array} { l l } x&y\\2&12\\3&9\\6&8\\7&7\\8&6\\9&5\\9&2\end{array}$
a. Develop the least squares estimated regression equation.
b. At 95% confidence, perform a t test and determine whether or not the slope is significantly different from zero.
c. Perform an F test to determine whether or not the model is significant. Let α = 0.05.
d. Compute the coefficient of determination.

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Definitions:

Depreciation Expense

The methodical distribution of the expense of a physical asset throughout its expected lifespan.

Net Income

Net income is the total profit of a company after all expenses and taxes have been deducted from revenues, indicating the company's financial performance over a specific period.

Variable Costs

Costs that change in proportion to the level of activity or production volume, such as materials and labor.

Fixed Costs

Fixed costs are business expenses that remain constant regardless of the level of production or sales activities.