Question

In the following table of paired data the variable x represents the opening

bid suggested by an auctioneer and y represents the final winning bid for

several items.

x               1500       500       450       400       300

-------------------------------------------------------------------------

y                 750         550        125        275       125

#5 Use your regression line equation to predict the final bid

on an item with suggest opening bid $425.

Round your answer to the nearest whole number.

Question: Does it make sense to use the regression line to make the prediction

in problem #5?  Explain

Answer 1

When X = 425

Yes The value of X = 425 is within the range of data, hence it make sense to use the regression line to make the prediction