Solved on Dec 07, 2023

Compute the regression line equation for a dataset with xˉ=9\bar{x}=9, sx=1s_{x}=1, yˉ=682\bar{y}=682, sy=51s_{y}=51, r=0.71r=-0.71. Round aa and bb to two decimal places.

STEP 1

Assumptions
1. The given dataset has a mean of xx values denoted by xˉ=9\bar{x}=9.
2. The standard deviation of xx values is given by sx=1s_{x}=1.
3. The mean of yy values is denoted by yˉ=682\bar{y}=682.
4. The standard deviation of yy values is given by sy=51s_{y}=51.
5. The correlation coefficient between xx and yy values is given by r=0.71r=-0.71.
6. The regression line we are looking for has the form y^=ax+b\hat{y} = ax + b, where aa is the slope and bb is the y-intercept.
7. The slope aa of the regression line can be calculated using the formula a=rsysxa = r \cdot \frac{s_{y}}{s_{x}}.
8. The y-intercept bb of the regression line can be calculated using the formula b=yˉaxˉb = \bar{y} - a\bar{x}.

STEP 2

Calculate the slope aa of the regression line using the formula a=rsysxa = r \cdot \frac{s_{y}}{s_{x}}.
a=0.71511a = -0.71 \cdot \frac{51}{1}

STEP 3

Perform the multiplication to find the slope aa.
a=0.7151a = -0.71 \cdot 51

STEP 4

Calculate the value of the slope aa.
a=36.21a = -36.21

STEP 5

Round the slope aa to two decimal places.
a36.21a \approx -36.21

STEP 6

Now, calculate the y-intercept bb of the regression line using the formula b=yˉaxˉb = \bar{y} - a\bar{x}.
b=682(36.219)b = 682 - (-36.21 \cdot 9)

STEP 7

Perform the multiplication and subtraction to find the y-intercept bb.
b=682+36.219b = 682 + 36.21 \cdot 9

STEP 8

Calculate the value of the y-intercept bb.
b=682+325.89b = 682 + 325.89

STEP 9

Calculate the sum to find the y-intercept bb.
b=1007.89b = 1007.89

STEP 10

Round the y-intercept bb to two decimal places.
b1007.89b \approx 1007.89

STEP 11

Write down the equation of the regression line with the calculated slope aa and y-intercept bb.
y^=36.21x+1007.89\hat{y} = -36.21x + 1007.89
The regression line is y^=36.21x+1007.89\hat{y} = -36.21x + 1007.89.

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