2. The table below lists the annual land-line phone cost per costumer: Year 2012 2013 2014 2015 Cost ($) a. 692 610 Find a linear regression model for this data b. Interpret the slope of the model 580 c. Predict the annual land-line phone cost per customer in 2022 495 2016 434

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
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2. The table below lists the annual land-line phone cost per costumer:
Year
2012
2013
2014
2015
Cost ($)
a.
692
610
Find a linear regression model for this data
b. Interpret the slope of the model
580
C. Predict the annual land-line phone cost per customer in 2022
495
2016
434
Transcribed Image Text:2. The table below lists the annual land-line phone cost per costumer: Year 2012 2013 2014 2015 Cost ($) a. 692 610 Find a linear regression model for this data b. Interpret the slope of the model 580 C. Predict the annual land-line phone cost per customer in 2022 495 2016 434
Expert Solution
Step 1

The linear regression is used to fit a data set into a linear equation of the form: y=mx+b. The equation: y=mx+b represents a straight line whose slope is m and y-intercept is b.

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