When you are given raw data on a test, solving the problem using technology is relatively simple. But when you are given intermediates or partial solutions, the task becomes a bit more difficult since most software is not set up to work on intermediates.
Consider the following problem:
A scientist employed simple linear regression to model the monthly price of recycled newspaper as a function of the monthly price of pulpwood. The results shown below were obtained for monthly data collected over a recent 10-year period (n = 120 months).
Use this information to conduct a simple linear regression analysis:
ŷ = 35.20+5.28x; for testing H0: β1 = 0, t = 2.45; r = 0.22; r2 = 0.05. [Read more…] about Simple Regression Part 3