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, yˆ=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 Dollars 21 26 28 35 43 Number of Bids 1 3 5 6 9 Step 3 of 6 : Substitute the values you found in steps 1 and 2 into the equation for the regression line to find the estimated linear model. According to this model, if the value of the independent variable is increased by one unit, then find the change in the dependent variable yˆ. NOTE: Step 1 of 6: Estimated slope = Slope: 0.347 Step 2 of 6: Find y-intercept = y-intercept: -5.818 Regression Line: y= 0.347x + -5.818
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, yˆ=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 Dollars 21 26 28 35 43 Number of Bids 1 3 5 6 9 Step 3 of 6 : Substitute the values you found in steps 1 and 2 into the equation for the regression line to find the estimated linear model. According to this model, if the value of the independent variable is increased by one unit, then find the change in the dependent variable yˆ. NOTE: Step 1 of 6: Estimated slope = Slope: 0.347 Step 2 of 6: Find y-intercept = y-intercept: -5.818 Regression Line: y= 0.347x + -5.818
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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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, yˆ=b0+b1x, for predicting the number of bids an item will receive based on the list price. Keep in mind, the
| Price in Dollars | 21 |
| 26 | |
| 28 | |
| 35 | |
| 43 | |
| Number of Bids | 1 |
| 3 | |
| 5 | |
| 6 | |
| 9 |
Step 3 of 6 :
Substitute the values you found in steps 1 and 2 into the equation for the regression line to find the estimated linear model. According to this model, if the value of the independent variable is increased by one unit, then find the change in the dependent variable yˆ.
NOTE:
| Step 1 of 6: Estimated slope = | Slope: 0.347 | |||
| Step 2 of 6: Find y-intercept = | y-intercept: -5.818 | |||
| Regression Line: y= 0.347x + -5.818 |
.
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