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, 9 by+byx, 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 23 25 28 43 44 Number of Bids 2 4 6 8 9 Table Step 2 of 6: Find the estimated y-intercept. Round your answer to three decimal places Copy Data
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, 9 by+byx, 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 23 25 28 43 44 Number of Bids 2 4 6 8 9 Table Step 2 of 6: Find the estimated y-intercept. Round your answer to three decimal places Copy Data
Chapter4: Linear Functions
Section: Chapter Questions
Problem 30PT: For the following exercises, use Table 4 which shows the percent of unemployed persons 25 years or...
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Explanation it correctly
![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, bo+bix, 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 23 25 28 43 44
Number of Bids 24689
Table
Step 2 of 6: Find the estimated y-intercept. Round your answer to three decimal places.
Copy Data](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F14883e3d-a3b9-4971-b1ba-d6facc0e6986%2Fbfe708ef-adba-4496-87dc-a76e2cf9aa49%2F703hny6_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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, bo+bix, 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 23 25 28 43 44
Number of Bids 24689
Table
Step 2 of 6: Find the estimated y-intercept. Round your answer to three decimal places.
Copy Data
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