Question
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,
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 Dollars20
2027
2730
3033
3342
42Number of Bids1
13
34
49
910
10
Table
Copy Data
Step2of6:Find the estimatedy-intercept. Round your answer to three decimal places.
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