Economics and Finance Scientists at the U.S. Mint believe that the number of years a quarter is…
Economics and Finance Scientists at the U.S. Mint believe that the number of years a quarter is in circulation is linearly related to the condition of the coin. To test this theory, a random sample of quarters was obtained. The number of years in circulation (x) was recorded for each coin, and each quarter was assessed for wear using the Official American Numismatic Association Grading Standards for U.S. Coins ( y, a 70-point scale). A simple linear regression analysis was performed, and the following partial ANOVA table was obtained.
a. Complete the ANOVA table.
b. Find an estimate of the variance of the random error terms.