The Smiths are also thinking about adding some premium channels to their cable package. They surveyed some friends and discovered the information shown in the table. Inspect the table to determine the slope of the relationship between the cost of cable service and the number of premium channels. Number of premium channels 1 4 Cost $54.98 $99.95 $114.94 What is the cost per premium channel? What does this tell you about the y-intercept? Write a sentence in context, which includes the slope and y-intercept of this relationship. Does the y-intercept make sense in this situation? Explain.

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The Smiths are also thinking about adding some premium channels to their cable
package. They surveyed some friends and discovered the information shown in the table.
Inspect the table to determine the slope of the relationship between the cost of cable
service and the number of premium channels.
Number of premium channels
1
4
Cost
$54.98
$99.95
$114.94
What is the cost per premium channel? What does this tell you about the y-intercept?
Write a sentence in context, which includes the slope and y-intercept of this relationship.
Does the y-intercept make sense in this situation? Explain.
Transcribed Image Text:The Smiths are also thinking about adding some premium channels to their cable package. They surveyed some friends and discovered the information shown in the table. Inspect the table to determine the slope of the relationship between the cost of cable service and the number of premium channels. Number of premium channels 1 4 Cost $54.98 $99.95 $114.94 What is the cost per premium channel? What does this tell you about the y-intercept? Write a sentence in context, which includes the slope and y-intercept of this relationship. Does the y-intercept make sense in this situation? Explain.
Expert Solution
Step 1

8.

Consider that x is the independent variable and y is the dependent variable. The size of the observations is n.

The formula for best fitted line is,

Statistics homework question answer, step 1, image 1

Step 2

Here, the sample size is n = 3. The number of premium channels is the independent variable (x) and the cost is the dependent variable (y).

Now, obtain the following table for necessary calculations.

Statistics homework question answer, step 2, image 1

Thus, the slope of the relationship between the cost of cable service and the number of premium channels is 14.99.

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