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, y = bo + bjx, 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 20 30 35 42 49 Number of Bids 3 4 9 Table Copy Data Step 4 of 6: Find the estimated value of ywhen x = 35. 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, y = bo + bjx, 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 20 30 35 42 49 Number of Bids 3 4 9 Table Copy Data Step 4 of 6: Find the estimated value of ywhen x = 35. Round your answer to three decimal places.
Chapter4: Linear Functions
Section: Chapter Questions
Problem 30PT: For the following exercises, use Table 4 which shows the percent of unemployed persons 25 years or...
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Transcribed Image Text: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, y = bo + bjx, 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
20 30 35 42 49
Number of Bids
3
4
5
9
Table
Copy Data
Step 4 of 6: Find the estimated value of ywhen x = 35. Round your answer to three decimal places.
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