EP CALCULUS FOR BUSINESS..-MYLAB ACCESS
14th Edition
ISBN: 9780135961438
Author: Barnett
Publisher: PEARSON CO
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Chapter 7.5, Problem 13E
In Problems 13–20, find the least squares line and use it to estimate y for the indicated value of x. Round answers to two decimal places.
13.
| x | y |
| 1 | 3 |
| 2 | 1 |
| 2 | 2 |
| 3 | 0 |
Estimate y when x = 2.5.
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You are given the following information about y and x.
Dependent Variable y
Independent Variable x
5
1
4
2
3
3
2
6
1
8
Refer to Exhibit 3. The least squares estimate of b1 (slope) equals
a.
-1
b.
-2.4
c.
-0.53
d.
-5
IlMustration 12.15.
The sales of a company in thousands of Rs
for the year 1965 through 1971 are given below:
Year
1965
1966
1967
1968
1969
1970
1971
Sales
32
47
65
92
132
190
275
Estimate the sales figure for the year 1972 using an equation of
the form. Y=ab* where x year and Y=sales.
9. The equation of the least-squares line for the number of three-base hits (triples) and the
number of home runs hit during the season by a random sample of MLB teams is represented
below. x represents the number of three-base hits (triples) and y represents the number of
home runs hit during the season.
ŷ = 241.1 +1.6x
||
(a) Interpret the meaning of the coefficient of x (the slope of the least-squares line).
(b) What is the predicted value of
if
30.
(c) Interpret the coefficient of determination for the above least-squares line equation, given
that r2
= 0.59.
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