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Simple Linear Regression Analysis

In New Jersey, Banks have been charged with withdrawing from countries having a high percent of minorities. To substantiate this charge, P.D. Ambrosio and S Chambers (1995), present in the data in shown at the bottom:

A.) Determine if there is significant relationship between X and Y.

B.) Describe the exact nature of any relationship that exists between X and Y. HINT: estimate B1 by a point estimate and a confidence interval.

The New Jersey Bank Data Set

County % of Minority Population, x Number of Residents per Bank Branch, y
Atlantic 23.3 3073
Bergen 13.0 2095
Bulington 17.8 2905
Camden 23.4 3330
Cape May 7.3 1321
Cumberland 26.5 2557
Essex 48.8 3474
Gloucester 10.7 3068
Hudson 33.2 3683
Hunterdon 3.7 1998
Mercer 24.9 2607
Middlesex 18.1 3154
Monmouth 12.6 2609
Morris 8.2 2253
Ocean 4.7 2317
pasaic 28.1 3307
Salem 16.7 2511
Somerset 12.0 2333
Sussex 2.4 2568
Union 25.6 3048
Warren 2.8 2349.

Solution Summary

The solution provides step-by-step method for the calculation of significance of slope and confidence interval for slope. Formula for the calculation and Interpretations of the results are also included.

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