Answer to Question #157355 in Statistics and Probability for EUGINE HAWEZA

Question

a least squares regression to simulated data. Because we constructed these data using a​ computer, we know the SRM holds and we know the parameters of the model. We chose β0=7​, β1=0.5​, and σε=1.4. The fit is to a sample of n=50 cases. Use these results to complete parts​ (a) through​ (c) below.

​(a) If β1=0.5 in the​ population, then why​ isn't b1=0.5​?

​(b) Do the 95​% confidence intervals for β0 and β1 ​"work" in this​ example? (By​ "work," we mean that these intervals contain β0 and β1​, ​respectively.)

(c) What's going to change in this summary if we increase the sample size from n=50 to n=5,000​?

Answer 1

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