Find the slope of the equation of the regression line for the following data:Consumer Price Index30.248.3112.3162.2191.9197.8Cost of Pizza0.150.351.001.251.752.00

regression equation Y=aX+b Y is the independent variable (consumer price index) X is the dependent…

Answered: slope of the equation of the…

Math

Statistics

slope of the equation of the regression line

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter3: Straight Lines And Linear Functions

Section3.4: Linear Regression

Problem 12SBE: Find the equation of the regression line for the following data set. x 1 2 3 y 0 3 4

See similar textbooks

Similar questions

Find the equation of the regression line for the following data set. x 1 2 3 y 0 3 4
Find the slope ofthe line in Figure l.
The follow table gives the approximate economic value associated with various levels of oil recovery in Texas. Find the regression line, and use it to estimate the economic value associated with a recovery level of 70%.
Find the y-intercept of the equation of the regression line for the following data: Consumer Price Index (X) 30.2 48.3 112.3 162.2 191.9 197.8 Cost of Pizza(Y) 0.15 0.35 1.00 1.25 1.75 2.00
Find the regression line of the points: (12.7, 18.7), (9.1, 17.2), (15.3, 14.5), (19.5, 12.9)
The following regression model shows the relationship between selling price of a house(y) and the number of bedrooms(x); y=100+0.6x. Another separate regression between selling price of the house(y) and the level of crime per week in the neighborhood(x); y=100+0.3x. Draw the regression line for the first and second regression. Write an interpretation for the slope coefficient in the first and second regression. Be specific. What is the estimated value of the price of a house which has two bedrooms.
Based on the firm's data and the regression line, complete the following. A. For these data, values for campaign cost that are less than the mean of the values for campaign cost tend to be paired with values for percentage increase in sales that are (greater than) or (less than) the mean of the values for percentage increase in sales. B. According to the regression equation, for an increase of one million dollars in advertising campaign cost, there is a corresponding increase of how many percent in sales?
Increase in sales (percent) An advertising firm wishes to demonstrate to its clients the effectiveness of the advertising campaigns it has conducted. The following bivariate data on twelve recent campaigns, including the cost of each campaign (in millions of dollars) and the resulting percentage increase in sales following the campaign, were presented by the firm. Based on these data, we would compute the least-squares regression line to be y = 6.16+0.18x, with x representing campaign cost and y representing the resulting percentage increase in sales. (This line is shown below, along with a scatter plot of the data.) Increase in sales, y Campaign cost, x (in millions of dollars) (percent) 3.02 6.91 7.2+ 1.92 6.80 3.83 6.85 6.8- 1.40 6.37 6.6 - 3.12 6.42 3.56 6.82 6.4- 4.06 6.94 6.2 1.64 6.56 6- 2.06 6.50 1.62 6.18 1.5 2.5 3.5 6.66 Campaign cost (in millions of dollars) 2.87 2.25 6.61 Send data to calculator Based on the firm's data and the regression line, complete the following. (a)…
Illustration 15.35. In trying to evaluate the effectiveness of its advertising campaign, a firm compiled the following data: Year: 1973 1974 1975 1976 1977 1978 1979 1980 48 Expenditure ('000): 12 Sale (lacs): 15 15 23 24 38 42 5.0 5.6 5.8 7.0 7.2 8.8 9.2 9.5
For 39 nations, a correlation of 0.887 was found between y = Internet use (%) and x = gross domestic product (GDP, in thousands of dollars per capita). The regression equation is y = -3.68 + 1.73x. Complete parts (a) through (c). a. Based on the correlation value, the slope had to be positive. Why? A. The slope and correlation are positive because gross domestic product could not be negative. B. The correlation and the slope are positive because the y-intercept is negative. That is a very unusual fact, because the slope and correlation usually have different signs. D. Although slope and correlation usually have different values, they always have the same sign. b. One nation had a GDP of 31.3 thousand dollars and Internet use of 28.5%. Find its predicted Internet use based on the regression equation. % (Round to one decimal place as needed.)
For 39 nations, a correlation of 0.887 was found between y = Internet use (%) and x = gross domestic product (GDP, in thousands of dollars per capita). The regression equation is y = -3.68 + 1.73x. Complete parts (a) through (c). a. Based on the correlation value, the slope had to be positive. Why? A. The slope and correlation are positive because gross domestic product could not be negative. B. The correlation and the slope are positive because the y-intercept is negative. C. That is a very unusual fact, because the slope and correlation usually have different signs. D. Although slope and correlation usually have different values, they always have the same sign.
The following data show the daily closing prices (in dollars per share) for a stock. Define the independent variable Period, where Period = 1 corresponds to the data for November 3, Period = 2 corresponds to the data for November 4, and so on. Develop the estimated regression equation that can be used to predict the closing price given the value of the Period. At the .05 level of significance, test for any positive autocorrelation in the data. Date Price ($) Nov. 3 82.87 Nov. 4 83.00 Nov. 7 83.61 Nov. 8 83.15 Nov. 9 82.84 Nov. 10 83.99 Nov. 11 84.55 Nov. 14 84.36 Nov. 15 85.53 Nov. 16 86.54 Nov. 17 86.89 Nov. 18 87.77 Nov. 21 87.29 Nov. 22 87.99 Nov. 23 88.80 Nov. 25 88.80 Nov. 28 89.11 Nov. 29 89.10 Nov. 30 88.90 Dec. 1 89.21