MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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The scatter plot below shows the average cost of a designer jacket in a sample of years between 2000 and 2015. The least squares regression line modeling this data is given by yˆ=−4815+3.765x.

 

 

A scatterplot has a horizontal axis labeled Year from 2005 to 2015 in increments of 5 and a vertical axis labeled Price ($) from 2660 to 2780 in increments of 20. The following points are plotted: (2003, 2736); (2004, 2715); (2007, 2675); (2009, 2719); (2013, 270). All coordinates are approximate. 

 

Interpret the slope of the least squares regression line.

Select the correct answer below:

 

1.The average cost of a designer jacket decreased by $3.765 each year between 2000 and 2015.

 

2.The average cost of a designer jacket increased by $3.765 each year between 2000 and 2015.

 

3.The average cost of a designer jacket decreased by $4815 each year between 2000 and 2015.

 

4. The average cost of a designer jacket increased by $4815 each year between 2000 and 2015.

2,780
y
2,760
2,740
2,720
2,700
2,680
X
2,660
2005
2010
2015
Year
Price ($)
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Transcribed Image Text:2,780 y 2,760 2,740 2,720 2,700 2,680 X 2,660 2005 2010 2015 Year Price ($)
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