he 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+b1xfor 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 23 29 43 50 Number of Bids 1 2 4 5 7 Step 5 of 6: Determine if the statement "All points predicted by the linear model fall on the same line" is true or false. Step 6 of 6: Find the value of the coefficient of determination. Round your answer to three decimal places.
he 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+b1xfor 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 23 29 43 50 Number of Bids 1 2 4 5 7 Step 5 of 6: Determine if the statement "All points predicted by the linear model fall on the same line" is true or false. Step 6 of 6: Find the value of the coefficient of determination. Round your answer to three decimal places.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 15PPS
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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+b1xfor predicting the number of bids an item will receive based on the list price. Keep in mind, the
| Price in Dollars | 21 | 23 | 29 | 43 | 50 |
|---|---|---|---|---|---|
| Number of Bids | 1 | 2 | 4 | 5 | 7 |
Step 5 of 6: Determine if the statement "All points predicted by the linear model fall on the same line" is true or false.
Step 6 of 6: Find the value of the coefficient of determination. Round your answer to three decimal places.
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