(A)Estimate the Regression Model

question 11

Essay

(A)Estimate the regression model.How well does this model fit the given data?
(B)Is there a linear relationship between X and Y at the 5% significance level? Explain how you arrived at your answer.
(C)Use the estimated regression model to predict the number of caps that will be sold during the next month if the average selling price is $10.
(D)Find a 95% prediction interval for the number of caps determined in Question 90.Use t- multiple = 2.
(E)Find a 95% confidence interval for the average number of caps sold given an average selling price of $10.Use a t-multiple = 2.
(F)How do you explain the differences between the widths of the intervals in (D)and (E)?

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Definitions:

Middle Term

In logic, the term that appears in both premises of a syllogism but not in the conclusion, used to link the major and minor terms.

Propositions

Statements or assertions expressing a judgement or an opinion that can be either true or false.

Middle Term

In the context of a syllogism in logic, the middle term is the term that appears in both premises but not in the conclusion, serving as a link between the two terms that do appear in the conclusion.

Major Premise

In deductive reasoning, the overarching statement or proposition from which a logical conclusion is drawn.