Question 1: Suppose we have the following information from a simple regression:

-What is the coefficient of determination??

-What is the correlation coefficient?

-What is the sample mean of Y??

-Test the hypothesis vs. , with ? = 0.05.

Question 2: survey 35 students and find that the mean daily spending is $63.57 with a sample standard deviation of $17.32.

-Develop a 95% confidence interval for the population mean daily spending.

-What level of confidence is associated with an interval of $58.62 to $68.52 for the population mean daily spending?

Question 3: wholesaler finds that 229 of the previous 500 calls to hardware store owners resulted in new product placements. Assume these 500 calls represent a random sample.

-Find a 95% confidence interval for the long-run proportion of new product placements.

-What level of confidence is associated with an interval of .400513 to .515487 for the long-run proportion of new

Question 4: The following results were obtained for a sample of n =20 restaurants of approximately equal size:

Where:

y = Number of bottles of imported premium beer sold, and

x = Average cost, in dollars, of a meal.

-Determine the sample regression line.

-Interpret the slope of the sample regression line.

-Is it possible to provide a meaningful interpretation of the intercept of the sample regression line? Explain.