Homework Answers
The given data is:
The given problem can be solved using the MS Excel tool REGRESSION through Data Analysis in Data Tab.
The regression equation can be derived using regression table given below:
Regression line equation
Y = a + bX - - - - - - - - - - (1)
Y(x) = Intercept + (X_Variable_1 x X)
Y(x) = -6337.97 + 492.52 X (Regression line equation)
comparing the above equation with (1),
a = -6337.97
b = 492.52
Y(95) = -6337.97 + (492.52 x 95) = $40451
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