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  3. 4. consider the relationship between the number of

4. Consider the relationship between the number of bids an item on eBay received and the...

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Basic Math

4. Consider the relationship between the number of bids an itemon eBay received and the item's selling price. The following is asample of 5 items sold through an auction.

Price in Dollars 137 137 151 180 187

Number of Bids 11 12 15 16 17

Step 1 of 5: Calculate the sum of squared errors (SSE). Use thevalues b0= ?1.8618 and b1= 0.1014 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 98% confidence interval for theslope. Round your answers to three decimal places.

Lower endpoint and Upper endpoint

Step 5 of 5: Construct the 90% confidence interval for theslope. Round your answers to three decimal places.

Lower endpoint and Upper endpoint

Answer & Explanation Solved by verified expert
4.1 Ratings (457 Votes)
Step 1 of 5SSE SyySxy2Sxx3628Step 2 of 5error Variance 2 s2 SSEn21209Step 3 of 5estimated    See Answer
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