Use the time/tip data from the table below, which includes data from New York City taxi rides. (The distances are in 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 takes30minutes. How does the result compare to the actual tip amount of$4.70? Distance1.321.021.808.512.470.681.6512.71 Time8.008.0025.0031.0018.006.0011.0027.00 Fare7.807.8016.3031.7514.306.309.8036.80Tip0.002.341.502.984.291.891.960.00The regression equation isy=enter your response here+enter your response herex.(Round the y-intercept to two decimal places as needed. Round the slope to four decimal places as needed.) The best predicted tip for a ride that takes 30 minutes is$enter your response here.(Round to the nearest cent as needed.)

It is given that the predictor variable x is time and response variable y is tip.

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

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

Use the time/tip data from the table below, which includes data from New York City taxi rides. (The distances are in 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

minutes. How does the result compare to the actual tip amount of

$4.70?

Distance	1.32	1.02	1.80	8.51	2.47	0.68	1.65	12.71
Time	8.00	8.00	25.00	31.00	18.00	6.00	11.00	27.00
Fare	7.80	7.80	16.30	31.75	14.30	6.30	9.80	36.80
Tip	0.00	2.34	1.50	2.98	4.29	1.89	1.96	0.00