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An auctioneer has recorded the profit made at a random sample of eight auctions and the nu

An auctioneer has recorded the profit made at a random sample of eight auctions and the nu

An auctioneer has recorded the profit made at a random sample of eight auctions and the number of people attending each of them. Attendance 100 120 140 250 420 470 580 650 Profit (£) 275 192 380 372 518 611 546 973 (a) Find the regression equation and test the hypothesis that the population slope is zero at the 5 per cent level of significance. (b) Produce a 95 per cent confidence interval for the mean profit from auctions that attract 300 people. (c) Produce a 95 per cent prediction interval for the profit that can be expected from a single auction that attracts 300 people
Abhinav 29-Nov-2019

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