Price in Dollars 2020 3030 3535 4242 4949 Number of Bids 33 44 55 66 99 Table Copy Data Step 1 of 6 : Find the estimated slope. Round your answer to three decimal places.
Price in Dollars 2020 3030 3535 4242 4949 Number of Bids 33 44 55 66 99 Table Copy Data Step 1 of 6 : Find the estimated slope. Round your answer to three decimal places.
Price in Dollars 2020 3030 3535 4242 4949 Number of Bids 33 44 55 66 99 Table Copy Data Step 1 of 6 : Find the estimated slope. Round your answer to three decimal places.
The table below gives the list price and the number of bids received for five randomly selected items sold through online auctions. Using this data, consider the equation of the regression line, yˆ=b0+b1xy^=b0+b1x, for predicting the number of bids an item will receive based on the list price. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.
Price in Dollars
2020
3030
3535
4242
4949
Number of Bids
33
44
55
66
99
Table
Copy Data
Step 1 of 6 :
Find the estimated slope. Round your answer to three decimal places.
Definition Definition Statistical measure used to assess the strength and direction of relationships between two variables. Correlation coefficients range between -1 and 1. A coefficient value of 0 indicates that there is no relationship between the variables, whereas a -1 or 1 indicates that there is a perfect negative or positive correlation.
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