People have been using Cameras for private daily use since the 1880s and the fir

Question

People have been using Cameras for private daily use since the 1880s and the first Kodak camera cost a lot of money in those days. Today we wish to see if the size of the camera can be used to predict the cost. The data is given below: Y = cost in dollars X - weight in ounces y (300, 250, 350, 400, 150, 180, 140, 300, 300, 200 X (6, 5, 7, 5,6,6,4,6,6, 5) The following information is available for you to use in the analysis of this topic. n=10 x=5.6 y-257 SSxy -248 SSxx-6.4 SSyy-69010 Calculate the prediction error of a 5 ounce camera? y- = 143 y-y -57 33.75 y- y- 16.25, 166.25, 33.75 16.25, 166.25, -33.75 none of these

Explanation / Answer

As we can see in the data, there are 3 y values corresponding to the x value as 5 which are 250, 400 and 200. Hence,

There would be three prediction errors.

From statistical software output: Predicted value = 233.75

Hence,

Option C is correct.

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