• In the following tableof paired data the variablexrepresents the opening
• bid suggested by an auctioneer andyrepresents the final winning bid for
• several items.
• x1500500500400300
• -------------------------------------------------------------------------
• y650175125275125
• What is the sum of the x-values?[x]
• What is the sum of the y-values?[y]
• What is the sum of the squares of the x-values?[a]
• What is the sum of the squares of the y-values?[b]
• What is the sum of the products xy?[c]

Question 2

• In the following tableof paired data the variablexrepresents the opening
• bid suggested by an auctioneer andyrepresents the final winning bid for
• several items.
• Calculate the correlation coefficient for the data.
• Round your final answer tothreedecimal places.
• x1500500500400300
• -------------------------------------------------------------------------
• y650175125275125
• Answer

Question 3

• In the following tableof paired data the variablexrepresents the opening
• bid suggested by an auctioneer andyrepresents the final winning bid for
• several items.
• x1500500500400300
• -------------------------------------------------------------------------
• y650175125275125
• Is there a correlation between the suggested opening bid
• and the final winning bid for the items?
• Use Table A-5to help you to carefullyexplain your answer.

Question 4

• Find the equation of the regression line for the data in Problem 1.
• Round your slope andy-intercept to three decimal places.

Question 5

• Use your regression line equation to predict the final bid
• on an item with suggest opening bid $450.
• Round your answer to the nearest whole number.

Question 6

• Does it make sense to use the regression line to make the prediction
• in problem #5?Explain.