Question
A random sample of ten professional athletes produced the following data where x is the number...
A random sample of ten professional athletes produced the following
data where x is the number of endorsements the player has
and y is the amount of money made (in millions of
dollars).
| x | y | x | y |
|---|---|---|---|
| 0 | 2 | 5 | 11 |
| 3 | 8 | 4 | 9 |
| 2 | 6 | 3 | 8 |
| 1 | 3 | 0 | 3 |
| 6 | 14 | 5 | 10 |
What is the y-intercept, a, of the line of best fit? (Round your answer to three decimal places.)
a =
What does it represent? (Round your answer to three decimal places.)
The y-intercept means that on average, players with no endorsements earn _______________ million dollars a year.
Homework Answers
Answer #1
Answer: The linear regression equation is given by y_hat = 2.196 +1.795 x, where y_hat= the predicted value of the amount of money made (in millions of dollars) made by the athlete and x= the number of endorsements the player has.
The line of best fit thus has y-intercept = a = 2.196 (rounded to 3 decimals). It means that on average, players with no endorsements earn 2.196 million dollars a year.
The linear regression equation is obtained using R-software. Code and Output are attached below.
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