Posted by hani on .
Hi all i have this assignment,please help me :D
1.The following table presents the monthly consumption (C) and income (I) of 5 families, in Jordanian Dinars:
A) Plot the data;
B) Write the estimated simple regression model;
C) What is the estimated consumption when the income is 500?
The plotting and regression-fitting tool at this site should help you:
Using this site and entering the C and I values in a table provided, I get the best linear fit to be
C = 0.368 I + 131.524
For I = 500, this results in C = 315.5
statistics (correction) -
I made a mistake reading the results of that Java applet that was referenced.
The constant value in that regression fit should be
b = 109.59107,
which makes the best fit
C = 0.368 I + 109.59
Fot I = 500, C = 293.6
thank you so much,but i need the solution i know its can be done on that site but the teacher wants to see the solution in details !
You will find the formulas at
The plotting of the graph is also something you will have to do yourself.