A Regression and Correlation Analysis Resulted in the Following Information $\Sigma$

question 78

Essay

A regression and correlation analysis resulted in the following information regarding an independent variable (x) and a dependent variable (y).
$\Sigma$ X = 42
$\Sigma$ (Y - )(X - ) = 37
$\Sigma$ Y = 63
$\Sigma$ (X - )² = 84
n = 7
$\Sigma$ (Y - )² = 28
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 $\alpha$ = 0.05.
d.Compute the coefficient of determination.

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Definitions:

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The estimated market value of an asset if sold again; often used in reference to vehicles, electronics, and real estate.

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A method of depreciation which accelerates cost recovery of an asset by applying a decreasing fraction of its depreciable cost each year.

Resale Value

The estimated amount that an asset or item is expected to sell for at some point in the future.