Question
Price of eggs and milk: The following table presents the average price in dollars for a dozen eggs and a gallon of milk for each
Price of eggs and milk:The following table presents the average price in dollars for a dozen eggs and a gallon of milk for each month from January through October
2007
.Use a TI-
84
calculator to answer the following.
Dozen Eggs | Gallon of Milk |
---|---|
1.57 | 2.88 |
1.58 | 2.81 |
1.63 | 2.79 |
1.56 | 2.91 |
1.37 | 3.37 |
1.31 | 3.57 |
1.25 | 3.48 |
1.28 | 3.30 |
1.15 | 3.15 |
1.09 | 3.16 |
Part 1 of 3
Compute the least-squares regression line for predicting the price of milk from the price of eggs. Round the slope and
y-interceptto at least four decimal places.
Regression line equation: =y |
If the price of eggs differs by $0.79 from one month to the next, by how much would you expect the price of milk to differ? Round your answer to at least two decimal places.
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