Question

Following are the observed values of bivariate data (xi, yi): (0,3),(1,2),(2,3),(3,5), (4,6) 1. Using the least square method on the above data, estimate the regression line y=Î²0+Î²1x and compute the relationship between x and y. 2. Predict the value of yi for each value of xi using the regression line equation computed in (1). Plot the data points and regression line. 3. Compute the residuals, Îµi. 4. Determine the coefficient of determination R^2 to check the goodness of fit of the fitting line to the data. 5. Which degree of polynomial is required to fit all the data points given above and tell the degree of polynomial that can be considered as the best fitting model of data? (Justify your answer)

          Following are the observed values of bivariate data (xi, yi):
(0,3),(1,2),(2,3),(3,5), (4,6)

1. Using the least square method on the above data, estimate the regression line y=Î²0+Î²1x and compute the relationship between x and y.

2. Predict the value of yi for each value of xi using the regression line equation computed in (1). Plot the data points and regression line.

3. Compute the residuals, Îµi.

4. Determine the coefficient of determination R^2 to check the goodness of fit of the fitting line to the data.

5. Which degree of polynomial is required to fit all the data points given above and tell the degree of polynomial that can be considered as the best fitting model of data? (Justify your answer)

Added by Jason B.

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