.The following regression equation for quantity supplied was estimated
using a sample of fiftyobservations.
Q= 2.2 + 0.104P.
(3.4) (0.005)
Standard errors are in the brackets. The total sum of squares was 132 and the
residual sum of squares was 19.5.
a)Establish a 99% confidence interval for slope and intercept confidence by steps
The slope coefficient is 0.104 and the standard error is 0.005. The 99% confidence interval for the slope coefficient is 0.104 ± 2.58*0.005, which is (0.093, 0.115).
The intercept coefficient is 2.2 and the standard error is 3.4. The 99% confidence interval for the intercept coefficient is 2.2 ± 2.58*3.4, which is (-4.7, 9.1).