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City government has collected the following data on annual sales tax collections and new car registrations: Annual Sales Tax Collections (in millions) New Car Registrations (in thousands) $1.00 $1.40 $1.88 $2.00 10 14 15 16 $1.82 14 -0.388+ 0.144 x $2.14 18 $2.30 19 a) The least-squares regression equation that shows the best relationship between sales tax (in millions) and car registrations (in thousands) is (round your responses to three decimal places and include a minus sign if necessary): where y = Dependent Variable and x = Independent Variable. b) Using the least-squares regression equation, the estimated sales tax collection when the new number of registrations total is 22,500 = $2.85 million (round your response to two decimal places). c) The coefficient of correlation for the least-squares regression = (round your response to four decimal places).

City government has collected the following data on annual sales tax collections and new car registrations: Annual Sales Tax Collections (in millions) New Car Registrations (in thousands) $1.00 $1.40 $1.88 $2.00 10 14 15 16 $1.82 14 -0.388+ 0.144 x $2.14 18 $2.30 19 a) The least-squares regression equation that shows the best relationship between sales tax (in millions) and car registrations (in thousands) is (round your responses to three decimal places and include a minus sign if necessary): where y = Dependent Variable and x = Independent Variable. b) Using the least-squares regression equation, the estimated sales tax collection when the new number of registrations total is 22,500 = $2.85 million (round your response to two decimal places). c) The coefficient of correlation for the least-squares regression = (round your response to four decimal places).

Elementary Linear Algebra (MindTap Course List)
Elementary Linear Algebra (MindTap Course List)
8th Edition
ISBN:9781305658004
Author:Ron Larson
Publisher:Ron Larson
Chapter2: Matrices
Section2.CR: Review Exercises
Problem 90CR
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City government has collected the following data on annual sales tax collections and new car registrations: Annual Sales Tax Collections (in millions) New Car Registrations (in thousands) $1.00 $1.40 10 14 $1.88 15 $2.00 16 y = -0.388 + 0.144 x $1.82 14 $2.14 $2.30 19 18 a) The least-squares regression equation that shows the best relationship between sales tax (in millions) and car registrations (in thousands) is (round your responses to three decimal places and include a minus sign if necessary): where ŷ = Dependent Variable and x = Independent Variable. b) Using the least-squares regression equation, the estimated sales tax collection when the new number of registrations total is 22,500 = $ 2.85 million (round your response to two decimal places). c) The coefficient of correlation for the least-squares regression = (round your response to four decimal places).
Transcribed Image Text:City government has collected the following data on annual sales tax collections and new car registrations: Annual Sales Tax Collections (in millions) New Car Registrations (in thousands) $1.00 $1.40 10 14 $1.88 15 $2.00 16 y = -0.388 + 0.144 x $1.82 14 $2.14 $2.30 19 18 a) The least-squares regression equation that shows the best relationship between sales tax (in millions) and car registrations (in thousands) is (round your responses to three decimal places and include a minus sign if necessary): where ŷ = Dependent Variable and x = Independent Variable. b) Using the least-squares regression equation, the estimated sales tax collection when the new number of registrations total is 22,500 = $ 2.85 million (round your response to two decimal places). c) The coefficient of correlation for the least-squares regression = (round your response to four decimal places).
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