Suppose a random sample of 15 families had the following annual incoMeand savings. Using SPSS, answe
Question: Suppose a random sample of 15 families had the following annual incoMeand savings. Using SPSS, answer the following:
| Family | Income | Savings |
| 1 | 22 | 2 |
| 2 | 18 | 2 |
| 3 | 17 | 1.6 |
| 4 | 27 | 3.2 |
| 5 | 30 | 3 |
| 6 | 21 | 2 |
| 7 | 23 | 1.9 |
| 8 | 28 | 3.1 |
| 9 | 15 | 1.5 |
| 10 | 20 | 2.5 |
| 11 | 16 | 1.8 |
| 12 | 22 | 2.1 |
| 13 | 21 | 2 |
| 14 | 30 | 3 |
| 15 | 15 | 1.4 |
(a) Estimate the population regression line for savings. Also construct the confidence interval for \(\beta \)
(b) Graph the points and a fitted line
(c) If income is 25, what can you estimate savings be?
(d) What is the null hypothesis? Can you reject the null hypothesis?
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Solution: The solution consists of 3 pages
Deliverables: Word Document
Deliverables: Word Document
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