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The owner of a bakery wants to analyze the relationship between the expenditure of a customer and the customer's income. A sample of 5 customers is taken and the following information was obtained.
The least squares estimated line is = 4.348 + 0.0826 X.
a. Obtain a measure of how well the estimated regression line fits the data.
b. You want to test to see if there is a significant relationship between expenditure and income at the 5% level of significance. Be sure to state the null and alternative hypotheses.
c. Construct a 95% confidence interval estimate for the average expenditure for all customers with an income of $20,000.
d. Construct a 95% confidence interval estimate for the expenditure of one customer whose income is $20,000.
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The degree to which a person's physical features are considered aesthetically pleasing or beautiful.
Similarity
A measure of how much two or more entities share in common, often used to assess closeness in features, opinions, or characteristics.
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Witnessing someone suffering and wanting to remove that suffering.
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The ability to see the world from another’s point of view.
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