Question

n 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

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y                 750         550        125        275       125

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.

Answer 1

The answer is as follows : -

x	y	x2	y2	xy
1500	750	2250000	562500	112500
500	550	250000	3032500	275000
450	125	202500	15625	56250
400	125	160000	75625	110000
300	125	90000	15625	37500

Sum of x - values = 3150

Sum of y - values = 1825

Sum of squares of   x   -   values   = x epsilon x² - ( epsilon x )²

=   5 x 2952500 - (3150 )²

=   4840000

Sum   of   squares   of    of   y   =   x   epsilon   y² -   ( epsilon y )²

=   1528750

Sum   of product xy = 1603750

Sum   of product xy = 1603750