3. The following sample contains values of the price and quantity sold of a particular commodity. Use quantity sold as the dependent variable Y. Price (X) Quantity sold (Y) 6.00 3.00 7.00 1.00 2.00 8.00 53 67 48 76 70 Σ æ=27, Σy=342, Σ 2 =163, Σ wy=1295, Σ υ = 21062, n = 6. y = 5.8795 + 83.4578 x Oy = 83.4578 - 5.8795 x ŷ = = -5.8795 + 83.4578 x 28 a. Estimate the regression line and also write the prediction equation. y = 83.4578 +5.8795 x

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