Calculate SSE and S2 for Exercise
Refer to Exercise 11.43. Find a 95% prediction interval for the median sale price for the year 1981. Repeat for 1982.Would you feel comfortable in using this model and the data of Exercise 11.5 to predict the median sale price for the year 1988?
Exercise 11.43
Refer to Exercises 11.5 and 11.17. Use the data and model given there to construct a 95% prediction interval for the median sale price in 1980.
Exercises 11.17
a Calculate SSE and S2 for Exercise 11.5.
b It is sometimes convenient, for computational purposes, to have x-values spaced symmetrically and equally about zero. The x-values can be rescaled (or coded) in any convenient manner, with no loss of information in the statistical analysis. Refer to Exercise 11.5. Code the x-values (originally given on a scale of 1 to 8) by using the formula
Then fit the model Y 
Calculate SSE. (Notice that the x∗-values are integers symmetrically spaced about zero.) Compare the SSE with the value obtained in part (a).
Exercise 11.5
What did housing prices look like in the “good old days”? The median sale prices for new single-family houses are given in the accompanying table for the years 1972 through 1979.1 Letting Y denote the median sales price and x the year (using integers 1, 2, . . . , 8), fit the model Y = β0 + β1x +ε What can you conclude from the results?
Answers
Status NEW
Posted 26 Apr 2017 09:04 AM
My Price 15.00
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file 1493197584-Answer.docx preview (228 words )
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