Solved on Dec 07, 2023
Compute the regression line equation for a dataset with , , , , . Round and to two decimal places.
STEP 1
Assumptions
1. The given dataset has a mean of values denoted by .
2. The standard deviation of values is given by .
3. The mean of values is denoted by .
4. The standard deviation of values is given by .
5. The correlation coefficient between and values is given by .
6. The regression line we are looking for has the form , where is the slope and is the y-intercept.
7. The slope of the regression line can be calculated using the formula .
8. The y-intercept of the regression line can be calculated using the formula .
STEP 2
Calculate the slope of the regression line using the formula .
STEP 3
Perform the multiplication to find the slope .
STEP 4
Calculate the value of the slope .
STEP 5
Round the slope to two decimal places.
STEP 6
Now, calculate the y-intercept of the regression line using the formula .
STEP 7
Perform the multiplication and subtraction to find the y-intercept .
STEP 8
Calculate the value of the y-intercept .
STEP 9
Calculate the sum to find the y-intercept .
STEP 10
Round the y-intercept to two decimal places.
STEP 11
Write down the equation of the regression line with the calculated slope and y-intercept .
The regression line is .
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