D Team Exercises

UNDER CONSTRUCTION

Important Terms and Concepts

• Model a statistical relationship.
• Understand the concept of the least squares criterion.
• Interpret the intercept \(\beta_0\) and slope \(\beta_1\) of an estimated regression equation.
• Know how to obtain the estimates \(\beta_0\) and \(\beta_1\) using diferent tools.
• Summarize the four conditions that underlie the simple linear regression model.
• Know how to obtain the estimate MSE of the unknown population variance \(\sigma2^\)
• Know that the coefficient of determination (\(R^2\)) and the correlation coefficient (\(\rho\)) are measures of linear association.
• Know how to interpret the \(R^2\) value.
• Know how to build confidence intervals for parameters and predictions