Question
Can you help me understand the process of calculating the regression slope and intercept when given the mean, SD, and n values. Regression formula: y(i)=b(o)+b(1)x(i)
Can you help me understand the process of calculating the regression slope and intercept when given the mean, SD, and n values.
- Regression formula: y(i)=b(o)+b(1)x(i)
- Slope b(1)=r*(SD(y)/SD(x))
- I know that the regression line passed through the mean values of x and y but not sure how to calculate
- Not sure how to calculate r (correl coefficient) from the information below
A linear model was fit to predict weekly Sales of frozen pizza (in pounds) from the average Price ($/unit) charged by a sample of stores in a city in 39 weeks over a three-year period. The average Price of the pizza was $3.44 (SD = $0.34), and the average Sales were 59,981 pounds (SD = 10,719 pounds). If the Price in a particular week was equal to the mean price of $3.44 , how much pizza would you predict was sold that week? Answer to the nearest pound.
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