People have been using Cameras for private daily use since the 1880s and the fir

Question

People have been using Cameras for private daily use since the 1880s and the first Kodak camera cost a lot of money in those days. Today we wish to see if the size of the camera can be used to predict the cost. The data is given below: Y cost in dollars x- weight in ounces y (300, 250, 350, 400, 150, 180, 140, 300, 300, 200 X (6, 5,7, 5,6,6, 4,6,6, 5 The following information is available for you to use in the analysis of this topic n:10 56 257 ss,y=248 SSn°6.4 SSyy : 69010 Predict the cost of a 5 ounce camera? Y = 233.75 Y = 400 Y-200 none of these

Explanation / Answer

The statistical software output for this problem is:

Simple linear regression results:
Dependent Variable: Y
Independent Variable: X
Y = 40 + 38.75 X
Sample size: 10
R (correlation coefficient) = 0.3731691
R-sq = 0.13925518
Estimate of error standard deviation: 86.16844

Parameter estimates:

Analysis of variance table for regression model:

Predicted values:

Hence,

Predicted value = 233.75

Option A is correct.

Parameter Estimate Std. Err. Alternative DF T-Stat P-value Intercept 40 192.67849 0 8 0.20759972 0.8407 Slope 38.75 34.061066 0 8 1.1376626 0.2882

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