Answers are baabdd Please explain the steps Economics 390 Fi

Economics 390, Final, Page The next six problems usilize information in the following paragraph A regression of height (X. in inches) on hourty carnings (Y in dollars ields the following resulis n-23 SSE 300 SST-1000 (Hint: how is this # related to the variance of Y (S Sy-3 EY,-460 EX, 1035 25. What is the value of Y ? a. 16 d. 28 e 30 26. What is the value orb, in the regression YahMo 26. What is the value of b, in the regression Y-butb,X? r1 ) a. 1.23 1o c. 1.51 d. 1.84 e. 1.92 2- 611 2 27. What is the variance of bi? 35-3o.1 3s- 3 a. 0.I 0.65 d. 1.01 e. 3.65 se 5.3 Noate: Ie onder to avoid wnnecessarily compounding any mistakes that ore posble on the prior 3 !Note: In order to avoid umnecessarily composending any mistakes that are possible on the prior 3 guestions, for the next 3 questions I am going to choose incarrect valnes for certain statistics as we contimwe the heigh earnings problem Io particular, sppose that br-1.0 and the standard deviation of bi hat is, S) is.7558. All other information from ahove continues to hold for the purposes of the remainder of the problem 28. What is the predicted hourly canings for someone 67 inches tall? (Hint: don\'t forget to calcugesSS 3x a. $40 b. $42 )35 35 s d. $46 e $48 Y--35354(1)167).-47.06

Solution

y bar = 20

20
slope =1.23
bi = 0.17
substitute xand get 47 hence nearest is 48	47.06
p value	0.25	(use the link for calculating p value from t)
30	mrgin of error	1.645*std error	1.34