Question: The following data give information on the lowest cost ticket price (in dollars) and the average attendance (rounded to the nearest thousand) for the last year for six football teams.
a. Taking ticket price as an independent variable and attendance as a dependent variable, compute SSxx, SSyy, and SSxy.
b. Find the least squares regression line.
c. Briefly explain the meaning of the values of a and b calculated in part b.
d. Calculate r and r2 and briefly explain what they mean.
e. Compute the standard deviation of errors.
f. Construct a 90% confidence interval for B.
g. Test at the 2.5% significance level whether B is negative.
h. Using the 2.5% significance level, test whether ρ is negative.