A random sample of 36 days yielded the average daily output, Ask an Expert

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Q1) The antique collector thinks that price received for particular item increases with its age and with number of bidders.

Formulate and evaluate the multiple regression models by using given data. Interpret each of evaluated regression coefficients. Is antique collector correct in believing that price received for item increases with its age and with number of bidders?

Q2) A chemical plant which produces bleach claims the average daily yield of 880 tons per day. It is sensible to suppose production levels are normally distributed-some days are slightly higher than others, some are lower. A random sample of 36 days yielded the average daily output of 890.2 tons, with standard deviation of 19.8 tons. Use this information to make a 95% confidence interval for mean.

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