Concept explainers
(a)
To find: the least regression line.
(a)
Answer to Problem 86E
The least squares regression line is
Explanation of Solution
Given information:
Since,
The result can be arranged in table format as shown below:
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Calculation:
The system of linear equations for getting values of
Multiply
Subtracting equation (3) from equation (4):
Put the value of
Therefore, the value of
Calculate the least squares regression line.
(b)
To validate: the result by using a regression feature of graphing utility.
(b)
Answer to Problem 86E
The least squares regression line by graphing utility is
Explanation of Solution
Given information:
Since,
The result can be arranged in table format as shown below:
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Calculation:
Use regression feature of a graphing utility to confirm the result.
Therefore, the least squares regression line by graphing utility is
(c)
To plot : the given data and graph the linear model .
(c)
Answer to Problem 86E
Plotted the given data and graphed the linear model.
Explanation of Solution
Given information:
Since,
The result can be arranged in table format as shown below:
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Plot the data on graph as shown below.
(d)
To predict: the demand when the price is
(d)
Answer to Problem 86E
The demand of product when the price
Explanation of Solution
Given information:
Since,
The result can be arranged in table format as shown below:
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Price of the product
Calculation:
To predict the demand of product when the price is
Here,
Putting the value of
Therefore, the demand of product when the price
Chapter 7 Solutions
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