The table below gives the list price and the number of bids received for five randomly selected items sold through onlin
Posted: Wed May 11, 2022 2:55 pm
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
ˆ
=
b
0
+
b
1
x, 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
24
28
35
44
50
Number of Bids
2
3
5
7
10
Step 1 of 6: Find the estimated slope. Round your answer to
three decimal places.
received for five randomly selected items sold through online
auctions. Using this data, consider the equation of the regression
line,
y
ˆ
=
b
0
+
b
1
x, 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
24
28
35
44
50
Number of Bids
2
3
5
7
10
Step 1 of 6: Find the estimated slope. Round your answer to
three decimal places.