In exercise 1 the following estimated expression equation ba

In exercise 1, the following estimated expression equation based on 10 observations was presented. Y = 29.1270 + 0.5906X1 + 0.4980X2 Develop a point estimate of the mean value of Y when X1 = 180 and X2 = 310. Develop a point estimate for an individual value of Y when X1 = 180 and X2 = 310.

Solution

Further, the point estimate of mean value and point estimate of individual value of Y are equal to y-hat. These point estimates are calculated by substituting the givesn values of x-i into regression equation.

a) y-hat = 29.1270 + 0.5906*180 + 0.4980*310 = 289.815

b) y-hat = 29.1270 + 0.5906*180 + 0.4980*310 = 289.815