Concept explainers
(a)
Towrite:The equation of best fit line for the data given in table.
(a)
Answer to Problem 10PT
The equation of the best fit line is
Explanation of Solution
Given:
The table is:
Calculation:
The equation for the regression line can be calculated by performing the following calculations.
Sum of x = 51
Sum of y = 214
Mean x = 10.2
Mean y = 42.8
Sum of squares (SSx) = 230.8
Sum of products (SP) = 435.2
Regression Equation =
Here,
Substitute the values of a andb .
The equation of the regression line is
The plot for the regression line is:
(b)
Tofind:The co-relation coefficient and its meaning.
(b)
Answer to Problem 10PT
The co-relation coefficient is 0.9844 and its meaning is explained below.
Explanation of Solution
Given:
The table is:
Calculation:
The equation for the regression line can be calculated by performing the following calculations.
Sum of x = 51
Sum of y = 214
Mean x = 10.2
Mean y = 42.8
Sum of squares (SSx) = 230.8
Sum of products (SP) = 435.2
Regression Equation =
Here,
Substitute the values of a andb .
The equation of the regression line is
The plot for the regression line is:
Calculate the co-relation coefficient.
Therefore the co-relation coefficient is very near to 1. This explains that the fit obtained is almost accurate.
From the co-relation coefficient it can be understood that there is direct co-relation between the years of experience and the salary. The more the number of years of experience, the more the salary is likely to be.
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