Learning the mechanics. Find the correlation coefficient and the coefficient of determination for the sample data of each of the following exercises. Interpret your results.
(a) Exercise 1 (b) Exercise 2
Exercise 1
Learning the mechanics. Use the method of least squares to fit a straight line to these six data points:
|
X
|
1
|
2
|
3
|
4
|
5
|
6
|
|
y
|
1
|
2
|
2
|
3
|
5
|
5
|
(a) What are the least square estimates of β0 and β1?
(b) Plot the data points and graph the least squares line on the scatterplot.
Exercise 2
Learning the mechanics. Use the method of least squares to fit a straight line to these five data points:
|
X
|
-2
|
-1
|
0
|
1
|
2
|
|
y
|
4
|
3
|
3
|
1
|
-1
|
(a) What are the least squares estimates of β0 and β1?
(b) Plot the data points and graph the least squares line on the scatterplot.