Question

Use these data for Questions 5 and 6.

Conduct a regression analysis in Excel using the following data:

X	Y
12	40
23	50
40	59
33	58
18	45

What is the value of b₀? Include 1 decimal place in your answer.

What is the value of b1? Include 2 decimal places in your answer.

Answer 1

we know that b1 is the slope for the regression equation and bo is the intercept

First, we need to enter the data into two excel cells, then using the INTERCEPT and SLOPE function, we can solve for the required values of bo and b1

We have to consider Y values as known y's and X values as known x' for the excel funtion

then, we get

b1(using SLOPE function) = SLOPE(Y,X) = 0.7

SImilarly using the intercept formula, we can write it as

bo(using INTERCEPT function) = INTERCEPT(Y,X) = 32.5

The value of bo is 32.5

The value of b1 is 0.7