Question

Price in Dollars 20 30 34 38 45

Number of Bids 4 5 6 7 9

tep 1 of 6:

Find the estimated slope. Round your answer to three decimal places.

Step 2 of 6:

Find the estimated y-intercept. Round your answer to three decimal places.

Step 3 of 6:

Determine if the statement "Not all points predicted by the linear model fall on the same line" is true or false.

Step 4 of 6:

Substitute the values you found in steps 1 and 2 into the equation for the regression line to find the estimated linear model. According to this model, if the value of the independent variable is increased by one unit, then find the change in the dependent variable y^.

Step 5 of 6:

Determine the value of the dependent variable yˆ at x=0

()b0

()b1

()x

()y

Step 6 of 6:

Find the value of the coefficient of determination. Round your answer to three decimal places.

Answer 1