Market researchers were interested in the relationship between the number of pieces in a brick-building set and the cost of a set. Information was collected from a survey and was used to obtain the regression equation ŷ = 0.08x + 1.20, where x represents the number of pieces in a set and ŷ is the predicted price (in dollars) of a set. Which statement best describes the meaning of the y-intercept of the regression line? When the price of a set is $0, the predicted number of pieces is 0. When the price of a set is $0, the predicted number of pieces is 1.20. When the number of pieces is 0, the predicted price is $1.20. This interpretation is not meaningful because a set cannot have 0 pieces. When the number of pieces is 0, the predicted price is $0.08. This interpretation is not meaningful because a set cannot have 0 pieces.
Market researchers were interested in the relationship between the number of pieces in a brick-building set and the cost of a set. Information was collected from a survey and was used to obtain the regression equation ŷ = 0.08x + 1.20, where x represents the number of pieces in a set and ŷ is the predicted price (in dollars) of a set. Which statement best describes the meaning of the y-intercept of the regression line? When the price of a set is $0, the predicted number of pieces is 0. When the price of a set is $0, the predicted number of pieces is 1.20. When the number of pieces is 0, the predicted price is $1.20. This interpretation is not meaningful because a set cannot have 0 pieces. When the number of pieces is 0, the predicted price is $0.08. This interpretation is not meaningful because a set cannot have 0 pieces.
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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Market researchers were interested in the relationship between the number of pieces in a brick-building set and the cost of a set. Information was collected from a survey and was used to obtain the regression equation ŷ = 0.08x + 1.20, where x represents the number of pieces in a set and ŷ is the predicted price (in dollars) of a set. Which statement best describes the meaning of the y-intercept of the regression line?
When the price of a set is $0, the predicted number of pieces is 0.
When the price of a set is $0, the predicted number of pieces is 1.20.
When the number of pieces is 0, the predicted price is $1.20. This interpretation is not meaningful because a set cannot have 0 pieces.
When the number of pieces is 0, the predicted price is $0.08. This interpretation is not meaningful because a set cannot have 0 pieces.
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