Question
The study on Price ($) and Sales of automobiles resulted in the following data: Use the following formula to calculate the correlation r between the
The study on Price ($) and Sales of automobiles resulted in the following data: Use the following formula to calculate the correlation r between the Sakes (Y) and the price (X) in the table below:
Price (X) |
| 10 | 20 | 30 | 40 | 50 | 60 | 70 | 80 | 90 | 100 |
Sales (Y) |
| 28 | 25 | 25 | 19 | 15 | 12 | 9 | 10 | 6 | 5 |
Use the variables and numbers in the table above to calculate the equation of the regression line:
is the predicted value of y (Sales) using x (Cost) with bo (the sample intercept) and b1 (the sample slope).
A. Calculate b1
B. Calculate b0
C. Write the equation of the regression line :
D. What is the estimated value, for x = 15?
Please type yourself, not in paper.
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