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c) Find the equation of the best-fitting line (the least squares regression equation). Round values to 2 decimal places. Include the restricted domain. equation: ? = restricted domain: dollars < X <= • Every time we increase Select an answer can expect Select an answer d) Interpret the slope from part c in the context of this problem. (Pay attention to the units) When Select an answer on average. Select an answer *X dollars. Hint: Your interpretation for the slope should be something like: Every time we increase (x) by (1) (unit), we can expect (y) to increase by (slope) (units). Just fill in the parts in parentheses with the information from this example. e) Interpret the Y-intercept from part c in the context of this problem. Include units. is ✓to be by to Select an answer by we we expect Does it make sense to interpret the Y-intercept on this problem? Why or why not? Select an answer Hint: Your interpretation for the y-intercept should be something like: When (x) is (0) (units), we expect (y) to be (y-intercept) (units). Again, just fill in the information from this particular example.

c) Find the equation of the best-fitting line (the least squares regression equation). Round values to 2 decimal places. Include the restricted domain. equation: ? = restricted domain: dollars < X <= • Every time we increase Select an answer can expect Select an answer d) Interpret the slope from part c in the context of this problem. (Pay attention to the units) When Select an answer on average. Select an answer *X dollars. Hint: Your interpretation for the slope should be something like: Every time we increase (x) by (1) (unit), we can expect (y) to increase by (slope) (units). Just fill in the parts in parentheses with the information from this example. e) Interpret the Y-intercept from part c in the context of this problem. Include units. is ✓to be by to Select an answer by we we expect Does it make sense to interpret the Y-intercept on this problem? Why or why not? Select an answer Hint: Your interpretation for the y-intercept should be something like: When (x) is (0) (units), we expect (y) to be (y-intercept) (units). Again, just fill in the information from this particular example.

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter7: Analytic Trigonometry
Section7.6: The Inverse Trigonometric Functions
Problem 94E
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The table below contains the value (in dollars) and the amount of annual rental income (in dollars) for a random sample of 42 houses.

X, value (in dollars) Y, annual rental income (in dollars)
289000 11648
145000 8320
244500 11232
155000 7488
240000 12064
240000 10192
67500 6864
200000 10608
95000 7904
140000 9568
225000 12480
240000 11648
90000 6240
190000 8320
135000 7488
126000 6240
208000 10400
130000 9776
125000 7904
135000 8320
178000 11856
200000 12272
270000 12896
75000 7280
140000 9152
170000 12688
174000 10400
104000 7904
85000 7072
325000 12480
115000 7904
194000 11232
200000 10400
303000 12272
121000 12064
165000 13312
165000 8528
300000 12480
148000 8320
310000 12480
81000 6656
214000 8528
c) Find the equation of the best-fitting line (the least squares regression equation). Round values to 2 decimal places. Include the restricted domain. equation: ? = restricted domain: dollars <= x <= Every time we increase Select an answer can expect Select an answer d) Interpret the slope from part c in the context of this problem. (Pay attention to the units) • When Select an answer on average. Select an answer * X dollars Hint: Your interpretation for the slope should be something like: Every time we increase (x) by (1) (unit), we can expect (y) to increase by (slope) (units). Just fill in the parts in parentheses with the information from this example. e) Interpret the Y-intercept from part c in the context of this problem. Include units. ✓is ✓to be ✓by to Select an answer by we we expect Does it make sense to interpret the Y-intercept on this problem? Why or why not? Select an answer Hint: Your interpretation for the y-intercept should be something like: When (x) is (0) (units), we expect (y) to be (y-intercept) (units). Again, just fill in the information from this particular example.
Transcribed Image Text:c) Find the equation of the best-fitting line (the least squares regression equation). Round values to 2 decimal places. Include the restricted domain. equation: ? = restricted domain: dollars <= x <= Every time we increase Select an answer can expect Select an answer d) Interpret the slope from part c in the context of this problem. (Pay attention to the units) • When Select an answer on average. Select an answer * X dollars Hint: Your interpretation for the slope should be something like: Every time we increase (x) by (1) (unit), we can expect (y) to increase by (slope) (units). Just fill in the parts in parentheses with the information from this example. e) Interpret the Y-intercept from part c in the context of this problem. Include units. ✓is ✓to be ✓by to Select an answer by we we expect Does it make sense to interpret the Y-intercept on this problem? Why or why not? Select an answer Hint: Your interpretation for the y-intercept should be something like: When (x) is (0) (units), we expect (y) to be (y-intercept) (units). Again, just fill in the information from this particular example.
f) Should you use the regression equation to predict the annual rental income of a randomly selected house that has a value of 279801 dollars? Select an answer Should you use the regression equation to predict the annual rental income of a randomly selected house that has a value of 476399 dollars? Select an answer Looking at your answers above, predict the annual rental income for the one above that it made sense to do so. Make sure you use the stored equation and not the rounded equation from part c. Round final answer to 2 decimal places. • The predicted annual rental income for a randomly selected house that has a value of dollars is g) Compute the residual for the following ordered pair in the data: (155000, 7488). Make sure you use the stored equation and not the rounded equation from part c. Round final answer to 2 decimal places. The residual for the house with a value of 155000 dollars is Interpret what this value means in the context of this problem. • The actual annual rental income of a randomly selected house with a value of 155000 dollars is Select an answer what was predicted.
Transcribed Image Text:f) Should you use the regression equation to predict the annual rental income of a randomly selected house that has a value of 279801 dollars? Select an answer Should you use the regression equation to predict the annual rental income of a randomly selected house that has a value of 476399 dollars? Select an answer Looking at your answers above, predict the annual rental income for the one above that it made sense to do so. Make sure you use the stored equation and not the rounded equation from part c. Round final answer to 2 decimal places. • The predicted annual rental income for a randomly selected house that has a value of dollars is g) Compute the residual for the following ordered pair in the data: (155000, 7488). Make sure you use the stored equation and not the rounded equation from part c. Round final answer to 2 decimal places. The residual for the house with a value of 155000 dollars is Interpret what this value means in the context of this problem. • The actual annual rental income of a randomly selected house with a value of 155000 dollars is Select an answer what was predicted.
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