1. Consider the relationship between the number of bids an itemon eBay received and the item's selling price. The following is asample of 55 items sold through an auction.
| Price in Dollars | 2222 | 2626 | 2727 | 3636 | 4545 |
|---|
| Number of Bids | 11 | 44 | 55 | 55 | 77 |
|---|
Step 1 of 5: Calculate the sum of squared errors (SSE). Use thevalues b0= ?1.9336 and b1= 0.2030 for the calculations. Round youranswer to three decimal places.
Step 2 of 5: Calculate the estimated variance of errors, s2e.Round your answer to three decimal places.
Step 3 of 5: Calculate the estimated variance of slope, s2b1.Round your answer to three decimal places.
Step 4 of 5: Construct the 80% confidence interval for theslope. Round your answers to three decimal places.
Lower endpoint:
Upper endpoint:
Step 5 of 5: Construct the 98% confidence interval for theslope. Round your answers to three decimal places.
Lower endpoint:
Upper endpoint:
