A.J. used linear regression to help him understand his monthly telephone bill. The line of best fit

Question:

A.J. used linear regression to help him understand his monthly telephone bill. The line of best fit was yˆ =23.65 + 1.28x where x is the number of long-distance calls made during a month, and y is the total telephone cost for a month. In terms of number of long-distance calls and cost:
a. Explain the meaning of the y-intercept, 23.65.
b. Explain the meaning of the slope, 1.28.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Elementary Statistics

ISBN: 9780538733502

11th Edition

Authors: Robert R. Johnson, Patricia J. Kuby

Question Posted: