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(Solution Library) The following information was obtained from a random sample of 30 MacFreeze trucks widely used in the transportation of perishable goods.

Question: The following information was obtained from a random sample of 30 MacFreeze trucks widely used in the transportation of perishable goods. X represents the age of the truck in years while Y represents the resale price in hundreds of thousands of dollars.

\[\begin{aligned} & \sum\limits_{i=1}^{n}{{{X}_{i}}=159,\,\,\,\sum\limits_{i=1}^{n}{X_{i}^{2}}=1031,\,\,\,\sum\limits_{i=1}^{n}{{{Y}_{i}}}}=2471 \\ & \sum\limits_{i=1}^{n}{Y_{i}^{2}}=258361,\,\,\,\sum\limits_{i=1}^{n}{{{X}_{i}}{{Y}_{i}}}=13560,\,\,\,n=30 \\ \end{aligned}\]
  1. Compute Cov (X, Y) and the coefficient of correlation r.
  2. Find the 95% confidence limits of the true coefficient of correlation \(\rho \)

%hwG9w22!AK^vioB(d) Compute the error sum of squares. Then use this information to evaluate the 95% confidence limits of \({{\beta }_{1}}\).

Price: $2.99
Solution: The downloadable solution consists of 3 pages
Deliverable: Word Document


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