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 124 143 158 160 196 Number of Bids 12 13 15 16 20 Table Step 1 of 6 : Find the estimated slope. Round your answer to three decimal places.
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 124 143 158 160 196 Number of Bids 12 13 15 16 20 Table Step 1 of 6 : Find the estimated slope. Round your answer to three decimal places.
Chapter4: Linear Functions
Section: Chapter Questions
Problem 40RE: For the following exercises, consider the data in Table 5, which shows the percent of unemployed ina...
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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 | 124 | 143 | 158 | 160 | 196 |
---|---|---|---|---|---|
Number of Bids | 12 | 13 | 15 | 16 | 20 |
Table
Step 1 of 6 :
Find the estimated slope. Round your answer to three decimal places.
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