Find the equation of the line of best fit for the data in Example 4.1.

We need to find four summations; the sum of the x values, the sum of the y values, the sum of the x squared values and the sum of the products of each pair of x and y values multiplied together. We also need to know n, the number of pairs of observations

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222222 2 Price (x) 18 324 Number sold (y) xy 20 25 27 400 625 729 28 784 32 1024 865227 8 144 6 120 5 125 2 54 2 56 1 32 Ex = 150 = 3886 = 24 Oxy = 531 n = 6