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The study on Price ($) and Sales of automobiles resulted in the following data: Use the following formula to calculate the correlation between the Sakes
The study on Price ($) and Sales of automobiles resulted in the following data: Use the following formula to calculate the correlation between the Sakes (Y) and the price (X) in the table below: Price 10 20 30 40 50 60 70 80 90 100 Sales 28 25 25 19 15 12 9 10 6 5 (Y Use the variables and numbers in the table above to calculate the equation of the regression line: i= bo+bo is the predicted value of y (Sales) using x (Cost) with b. (the sample intercept) and b1 (the sample slope). A. Calculate b1 (3 marks) ANSWER: I B. Calculate bo (1 marks) ANSWER: C. Write the equation of the regression line (1 mark): s=butbe ANSWER: D. What is the estimated value, y for x = 15? (2 marks)
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