A study of 25 online jewelry retailers was done to find the statistical relationship between the price yyin dollars of a diamond ring and the weight xxin carats of the diamond. Based on this data the following least-squares regression line was found: y^=−6047.75+11975.14xy^=−6047.75+11975.14x One online retailer sells a 3.00 carat diamond ring for 28,999 dollars. What is the residual (error) for the predicted price of a 3.00 carat diamond ring? Give your answer to two decimal places.
A study of 25 online jewelry retailers was done to find the statistical relationship between the price yyin dollars of a diamond ring and the weight xxin carats of the diamond. Based on this data the following least-squares regression line was found: y^=−6047.75+11975.14xy^=−6047.75+11975.14x One online retailer sells a 3.00 carat diamond ring for 28,999 dollars. What is the residual (error) for the predicted price of a 3.00 carat diamond ring? Give your answer to two decimal places.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A study of 25 online jewelry retailers was done to find the statistical relationship between the price yyin dollars of a diamond ring and the weight xxin carats of the diamond. Based on this data the following least-squares regression line was found:
y^=−6047.75+11975.14xy^=−6047.75+11975.14x
One online retailer sells a 3.00 carat diamond ring for 28,999 dollars. What is the residual (error) for the predicted price of a 3.00 carat diamond ring? Give your answer to two decimal places.
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