Concept explainers
a.
To find: An equation of the regression line.
a.
Answer to Problem 10PPS
The equation of regression line is
Explanation of Solution
Given Information: A table showing the prices of the eight top-selling brands of jeans.
Calculation:
An equation of the best fit line is given by,
- Here, a is the intercept and b is the slope.
Find
|
|
|
|
1 | 43 | 43 | 1 |
2 | 44 | 88 | 4 |
3 | 50 | 150 | 9 |
4 | 61 | 244 | 16 |
5 | 64 | 320 | 25 |
6 | 135 | 810 | 36 |
7 | 106 | 742 | 49 |
8 | 78 | 624 | 64 |
Sum of every column is,
Calculate a as,
Calculate b as,
Substitute the values of a and b in equation (1),
Hence, the equation of regression line is,
b.
To calculate: The price of a pair of the 12th best-selling brand.
b.
Answer to Problem 10PPS
The price of a pair of the 12th best-selling brand is 145.219
Explanation of Solution
Given Information: The equation of regression line is
Calculation:
Substitute
The price of a pair of the 12th best-selling brand is 145.219.
c.
To find: Whether the prediction is reasonable.
c.
Answer to Problem 10PPS
No, the prediction is not reasonable.
Explanation of Solution
Given Information: The price of a pair of the 12th best-selling brand is 145.219.
Calculation:
From the table it is evident that the prices of the top-6 selling brands are low but slowly increasing. The second pattern is that for the 7th and 8th top-selling brands, the prices are decreasing. So, if this pattern continues, the price will decrease and since our prediction is an increased value it is not a reasonable prediction.
Chapter 4 Solutions
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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