A random sample of 20 workers in a factory were asked to report the age of...

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Statistics

A random sample of 20 workers in a factory were asked to reportthe age of their car and how many miles the vehicle had on it. Acomputer printout resulted in the following information.
Variable
Coef
SE Coef
t-ratio
Prob
Constant
7288.54
6591
1.11
<0.2826
Age
11630.6
1249
9.31
<0.0001
R sq = 82%
R sq adj = 81.1%
s = 19280
Find the LSRL
A new worker starts next week and we know that his car is 7years old, how many miles would you expect to be on his car?
Interpret the slope of the LSRL in the context of thisproblem.
Find a 95% confidence interval for the slope of the LSRL
Without calculating it what do you know about an 85% confidenceinterval compared to your answer in part b?

Answer & Explanation Solved by verified expert

4.5 Ratings (870 Votes)

The given result a simple linear model to predict age ofthe carThe simple linear regression is used topredict a continuous outcome variable y based on one singlepredictor variable xThe mathematical formula isy b0 b1x eWhich meansbeta1 b1 times x plus aconstant beta0 b0 plus an error term e b0 is the intercept b1 is the slope of the regressionline e is the error termFrom the give computer printed resultsx Age of the cary miles the vehicle had on See Answer

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Variable	Coef	SE Coef	t-ratio	Prob
Constant	7288.54	6591	1.11	<0.2826
Age	11630.6	1249	9.31	<0.0001
R sq = 82%	R sq adj = 81.1%	s = 19280