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, y^=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 101 126 154 172 185 Number of Bids 10 14 17 18 20 Summation Table x y xy x2 y2 Bid 1 101 10 1010 10201 100 Bid 2 126 14 1764 15876 196 Bid 3 154 17 2618 23716 289 Bid 4 172 18 3096 29584 324 Bid 5 185 20 3700 34225 400 Sum 738 79 12188 113602 1309 Step 1 of 6: Find the estimated slope. Round your answer to three decimal places. Step 2 of 6: Find the estimated y-intercept. Round your answer to three decimal places. Step 3 of 6: Find the estimated value of y when x=172. Round your answer to three decimal places. Step 4 of 6: Determine the value of the dependent variable y^ at x=0. Step 5 of 6: Find the error prediction when x=172. Round your answer to three decimal places. Step 6 of 6: Find the value of the coefficient of determination. Round your answer to three decimal place
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, y^=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 101 126 154 172 185 Number of Bids 10 14 17 18 20 Summation Table x y xy x2 y2 Bid 1 101 10 1010 10201 100 Bid 2 126 14 1764 15876 196 Bid 3 154 17 2618 23716 289 Bid 4 172 18 3096 29584 324 Bid 5 185 20 3700 34225 400 Sum 738 79 12188 113602 1309 Step 1 of 6: Find the estimated slope. Round your answer to three decimal places. Step 2 of 6: Find the estimated y-intercept. Round your answer to three decimal places. Step 3 of 6: Find the estimated value of y when x=172. Round your answer to three decimal places. Step 4 of 6: Determine the value of the dependent variable y^ at x=0. Step 5 of 6: Find the error prediction when x=172. Round your answer to three decimal places. Step 6 of 6: Find the value of the coefficient of determination. Round your answer to three decimal place
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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Question
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, y^=b0+b1x, for predicting the number of bids an item will receive based on the list price. Keep in mind, the
| Price in Dollars | 101 | 126 | 154 | 172 | 185 |
|---|---|---|---|---|---|
| Number of Bids | 10 | 14 | 17 | 18 | 20 |
Summation Table
| x | y | xy | x2 | y2 | |
|---|---|---|---|---|---|
| Bid 1 | 101 | 10 | 1010 | 10201 | 100 |
| Bid 2 | 126 | 14 | 1764 | 15876 | 196 |
| Bid 3 | 154 | 17 | 2618 | 23716 | 289 |
| Bid 4 | 172 | 18 | 3096 | 29584 | 324 |
| Bid 5 | 185 | 20 | 3700 | 34225 | 400 |
| Sum | 738 | 79 | 12188 | 113602 | 1309 |
Step 1 of 6:
Find the estimated slope. Round your answer to three decimal places.
Step 2 of 6:
Find the estimated y-intercept. Round your answer to three decimal places.
Step 3 of 6:
Find the estimated value of y when x=172. Round your answer to three decimal places.
Step 4 of 6:
Determine the value of the dependent variable y^ at x=0.
Step 5 of 6:
Find the error prediction when x=172. Round your answer to three decimal places.
Step 6 of 6:
Find the value of the coefficient of determination. Round your answer to three decimal places.
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