Statistics Question
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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Expert Solution
Step 1
a)
The equation of best fitted line passing through (x1, y1), (x2, y2) is (y – y1)/ (x – x1) = (y2 – y1)/ (x2 – x1).
Step 2
In this case, (x1, y1) = (3.50, 270) and (x2, y2) = (4.75, 230).
Here, the price, p, is the independent variable and Q is the quantity of cables sold.
Thus,
Thus, the equation of the line is Q = -32p + 382.
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