The Summary Statistics for a Certain Set of Points Are $\sum { ( x - \bar { x } ) ^ { 2 } }$

question 15

Short Answer

The summary statistics for a certain set of points are: n=10, s_e=3.199, $\sum { ( x - \bar { x } ) ^ { 2 } }$ =11.257, and $\beta _ { 1 }$ =1.704 . Assume the conditions of the linear model hold. A 99% confidence interval for $\beta _ { 1 }$ will be constructed.
i). How many degrees of freedom are there for the critical value?
ii). What is the critical value?
iii). What is the margin of error?
iv). Construct the 99% confidence interval.

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Definitions:

Earnings

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The process or strategy of adjusting production and prices to achieve the highest possible profit.

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The additional output produced as a result of adding one more unit of a specific input, keeping all other inputs constant.