The table below gives the list price and the number of bids received for five randomly selected items sold through online auctions. Using this data, consider the equation of the regression line,y

=b

0

+b

1

x

y^=b0+b1x, for predicting the number of bids an item will receive based on the list price. Keep in mind, the correlation coefficient may or may not be statistically significant for the data given. Remember, in practice, it would not be appropriate to use the regression line to make a prediction if the correlation coefficient is not statistically significant.

Price in Dollars24

2428

2834

3440

4043

43Number of Bids2

24

46

68

810

10

Table

Copy Data

Step4of6:Determine the value of the dependent variabley

y^atx=0

x=0.