Use the time/tip data from the table below, which includes data from New York City taxi rides. (The distances arein miles, the times are in minutes, the fares are in dollars, and the tips are in dollars.) Find the regression equation,letting time be the predictor (x) variable. Find the best predicted tip for a ride that takes 30 minutes. How does the resultcompare to the actual tip amount of $4.70?Distance 0.49 0.682.47 1.32 1.021.65 8.5111.00 31.00 18.002.00 6.008.004.80 6.30 9.80 31.75 14.30 7.80 7.800.00 1.89 1.962.98 4.29 0.00 2.34TimeFareTip1.808.00 25.0016.301.50The regression equation is ŷ = + (x.X.(Round the y-intercept to two decimal places as needed. Round the slope to four decimal places as needed.)

We have to predict the tip for the ride in dollars, using the independent variable, as time in…

Answered: Use the time/tip data from the table…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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